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Chinese corporate biodiversity exposure

Author

Listed:
  • He, Feng
  • Chen, Longxuan
  • Lucey, Brian M.

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.

Suggested Citation

  • He, Feng & Chen, Longxuan & Lucey, Brian M., 2024. "Chinese corporate biodiversity exposure," Finance Research Letters, Elsevier, vol. 70(C).
    • Handle: RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324013047
    DOI: 10.1016/j.frl.2024.106275
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    More about this item

    Keywords

    Biodiversity; Chinese corporate finance; Risk exposure;
    All these keywords.

    JEL classification:

    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation

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