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DTSTART;TZID=Europe/Helsinki:20241003T113000
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SUMMARY:Ivan Diaz-Rainey  (Griffith Business School) " Extreme seas\, climate change and banking stability: A bottom-up temporospatial stress test in the context of domestic real estate"
DESCRIPTION:Quantitative Sustainable Economics and Finance \nTime: 11.30 am\nDate: 03th of October 2024\nRoom 2028 \nIvan Diaz-Rainey (Griffith Business School) ” Extreme seas\, climate change and banking stability: A bottom-up temporospatial stress test in the context of domestic real estate” \nAbstract :Combining new data on biodiversity-capacity and biodiversity-footprint with firm fundamentals\, we conduct a causal analysis of the impact of biodiversity physical risk on firms’ profitability and stock returns. With this purpose\, we build a biodiversity index for 35 countries and use a time series model to capture its variation over time. We show that such time trend estimation can be aggregated as risk exposure and can significantly forecast establishment-level profitability. We then show that the market underprices biodiversity physical risk\, which is due to the insufficient analysis of related information and its impact on the firm-level future cash flow. We also document disparities of risk exposure across firms and sectors\, and our results are consistent with previous findings in terms of climate physical risk. \nOrganizers:\n\nPatricia Crifo\, Emmanuel Gobet\, Peter Tankov\, Gauthier Vermandel\, and Olivier David Zerbib. \nSponsors:\nCREST \n
URL:https://crest.science/event/ivan-diaz-rainey-griffith-business-school-extreme-seas-climate-change-and-banking-stability-a-bottom-up-temporospatial-stress-test-in-the-context-of-domestic-real-estate/
CATEGORIES:Finance-Insurance,Quantitative Sustainable Economics and Finance,Seminars
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