
嘉宾简介:
王姝晶博士现任同济大学经济与管理学院教授,博士生导师。她获得香港科技大学金融学博士学位。在此之前,她获得北京大学物理化学学士学位和美国罗切斯特大学物理化学博士学位。她曾入选国家青年人才,上海市青年东方学者,上海市浦江人才计划,主持国家自然科学基金青年项目和面上项目。
她的研究领域主要集中在大数据分析、资产定价和金融科技。她的研究发表(或被接受)在国际国内一流期刊上,包含Management Science (5篇), Journal of Financial and Quantitative Analysis, Journal of Corporate Finance, Journal of Banking and Finance, Journal of Empirical Finance,《管理科学学报》,《中国工业经济》,《金融研究》等。
讲座简介:
We analyze the pricing of carbon risk in the cross section of global corporate bond returns. We find that the relationship between carbon intensity and future bond returns is insignificant before Paris Agreement but become significantly positive after that. The positive carbon premium is more pronounced in countries with stricter climate policies and greener energy structures. Our results are robust to various specifications and cannot be explained by investor overreaction. Our findings suggest that the market demands a risk premium due to the anticipation of climate policy risk, and carbon risk is priced in the global corporate bond market.
