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DTSTART;TZID=Europe/Helsinki:20241003T103000
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SUMMARY:Maria-Eugenia Sanin (Paris Saclay University) "Biodiversity Risk\, Firm Performance\, and Market Mispricing"
DESCRIPTION:Quantitative Sustainable Economics and Finance \nTime: 10.30 am\nDate: 03th of October  2024\nRoom 2028 \nMaria-Eugenia Sanin (Paris Saclay University) “Biodiversity Risk\, Firm Performance\, and Market Mispricing” \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/maria-eugenia-sanin-paris-saclay-university-biodiversity-risk-firm-performance-and-market-mispricing/
CATEGORIES:Finance-Insurance,Quantitative Sustainable Economics and Finance,Seminars
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