Chinese corporate biodiversity exposure

Feng He, Longxuan Chen and Brian M. Lucey

Finance Research Letters, 2024, vol. 70, issue C

Abstract: We present time series indices of corporate biodiversity risk exposure for listed Chinese companies. Utilizing recent advancements in text-as-data techniques, we analyze the annual reports of more than 4000 companies spanning a 15-year period. Our study introduces two indices: an exposure index, inspired by the work of Giglio et al., 2023, and an extensiveness index, which draws from policy uncertainty indices like Lucey et al. (2022). Our findings reveal substantial exposure to biodiversity risks among Chinese companies, notably exceeding levels observed in the USA.Corporate-level data are available as an Internet appendix to this note.

Keywords: Biodiversity; Chinese corporate finance; Risk exposure (search for similar items in EconPapers)
JEL-codes: Q3 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324013047

DOI: 10.1016/j.frl.2024.106275

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