Associate Professor Yonghao Xu, a researcher of the base, has published a collaborative paper titled "Does interest rate liberalization affect corporate green investment?" in Energy Economics.

Energy Economics is an internationally authoritative journal in the fields of energy economics and energy finance, focusing on energy markets, climate policy, tax forecasting, monetary policy, and related themes.

Abstact：This paper explores how early-life exposure to natural disasters, specifically earthquakes, induces environmental-friendly actions in China's manufacturing sector. We establish that early-life earthquake experiences lead to a reduction in enterprises' pollutant emissions, an effect that persists for up to a decade and gradually diminishing over time. Delving into the experimental economics and psychology literature, we identify key drivers of environmentally responsible behavior in firms, including long-term time preferences, prosocial behaviors, and risk-taking attitudes. The pollutant reduction effect is more prevalent in firms with stronger performance, those that are nonstate-owned, operate in heavy-polluting industries, and have endured severe earthquakes. Our research expands the understanding of climate risk, post-traumatic growth, and factors influencing corporate pollutant emissions, offering valuable insights into how individuals' preferences can be nurtured to support environmental protection efforts.

keywords：Natural disaster; Pollution emission; Time preference; Prosocial behavior; Risk-takin

Link：https://doi.org/10.1016/j.eneco.2024.107728

Author profile

Yonghao Xu holds a Ph.D. in Finance from Peking University and joined the School of Finance, Zhongnan University of Economics and Law in 2021. His research interests encompass behavioral finance, asset pricing, and household finance. His research achievements have been published in domestic and international journals such as Management World, International Review of Economics and Finance, and Economics Letters. In 2022, he was awarded a Youth Project from the National Natural Science Foundation of China.