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紫金名家讲堂
讲座名称：Cleaner Air and Labor Cost Stickiness: Evidence from the Clean Heating Plan in China
讲座嘉宾：廖冠民 教授
讲座时间：11月15日（周五），14:30
讲座地点：经管院310室
内容简介
Economic evaluation of climate change risks is vital for guiding corporate long-term strategic planning. In this study, we examine the relation between air pollution reduction and labor cost stickiness, as mediated by air quality’s effect on labor force supply. Using the pilot “Clean Heating Plan” implemented by the Chinese government since 2017 to switch winter heating from coal to gas or electricity as a quasi-natural experiment, we first find that the Plan has not only mitigated climate change and air pollution but also increased labor supply in the pilot cities. Labor cost stickiness is reduced for up to two years after the Plan adoption. Our cross-sectional tests show that the Plan’s negative effect on labor cost stickiness is stronger when ex-ante labor supply is lower, ex-ante labor demand is higher, when a firm’s labor employment decision is less rigid, when local government’s environmental regulations enforcement is stricter, or when a firm is not in polluting industries. Finally, we find that firms have improved operating flexibility, better performance, and higher long-term value after the Plan implementation. We provide compelling evidence on real economic benefits of implementing environmental policies that mitigate climate change risks and air pollution simultaneously.
嘉宾简介
廖冠民，中国人民大学商学院教授，博士生导师，党委副书记，兼任中国会计学会会计教育分会常务理事。主要研究政府监管与公司治理、劳动与公司财务、ESG与可持续发展等领域，论文发表于Journal of Finance、Journal of Accounting and Economics、Journal of International Business Studies、Review of Finance、《会计研究》《审计研究》等国内外期刊，主持四项国家自然科学基金项目，获得孙冶方金融创新奖、Review of Finance公司金融最佳论文、北京市优秀博士论文等奖励，入选全国高端会计人才、北京高等学校青年英才。担任Management Science、Journal of Financial and Quantitative Analysis、Contemporary Accounting Research、Review of Accounting Studies、《管理世界》《会计研究》等期刊的审稿人。
图文、初审 | 孙乾
编辑、复审 | 黄佳俊 王亚东
终审 | 游鹏
经管院微信号｜NJUST_SEM
微信搜索｜南京理工大学经济管理学院
