线上老虎机

2025年江苏省研究生“经济管理前沿研究方法”暑期学校学术讲座——顾弦教授

时间：2025年7月11日 上午9:30-11:30

地点：东校区财科馆215教室

题目：Banking on Forest

摘要：This paper examines whether a firm’s exposure to deforestation risk affects loan terms. We find that forest-dependent firms face higher loan spreads than their peers when forest loss is driven by wildfires. In contrast, when forest loss is human-induced, the gap in spreads becomes significant only after the European Commission proposed the deforestation regulatory framework. Firms obtaining loans in the aftermath of human-induced deforestation subsequently reduce their reliance on forest-based inputs from suppliers in high-risk countries, initiate reforestation efforts, and divest from pollutive deforested plants. Our findings highlight banks’ compliance role in green transition.

主讲人：顾弦 教授（杜伦大学）

Xian Gu joined Durham University Business School in June 2020 as an Associate Professor in Finance. Prior to this, she was an Associate/Assistant Professor in Finance at School of Finance of Central University of Finance and Economics (CUFE) in Beijing, Visiting Lecturer at Wharton School of University of Pennsylvania. Before these, she was a post-doctoral research fellow at the Wharton School of University of Pennsylvania.

Xian’s research interests are corporate finance, financial intermediation, FinTech, law and finance. She has published academic papers in Journal of Financial Economics, Journal of International Economics, and Annual Review of Financial Economics, among others. Her papers have won the Best Paper Awards at conferences including AsianFA (2019); CFRC (2019); CICF (2021); CFRC (2021).

Xian is currently the Deputy Director of the Centre for Banking, Institutions, and Development (CBID) at Durham University Business School. She currently serves as an Associate Editor in Journal of Financial Stability.