喻园管理论坛2025年第5期(总第1046期)

演讲主题：ClimateTech

主讲人：曹顺 美国马里兰大学史密斯商学院会计系终身副教授

主持人：高茹 会计与财税系教授

活动时间：2025年2月22日（周六）16:00-18:00

活动地点：管院大楼209室

主讲人简介：

曹顺，美国马里兰大学史密斯商学院会计系终身副教授，主要研究领域为公司信息披露的决策有用性、信息数据结构分析（非结构化大数据）、深层神经网络和人工智能以及区块链。已有研究成果发表在会计财务顶级期刊如Journal of Financial Economics、Journal of Accounting Research、The Accounting Review、Contemporary Accounting Reseah和IEEE Computer等。曹教授目前是Review of Financial Studies, Management Science (Guest Associate Editor)、Contemporary Accounting Research、MIS Quarterly、Accounting、Organizations and Society等顶级期刊的审稿人。

活动简介：

There is a growing trend of firms applying emerging technologies, such as AI, to address climate solutions. This paper provides a systematic analysis of this new economic phenomenon (ClimateTech), examining who is adopting it and its impact on financial value and environmental sustainability. We apply dependency parsing analysis to public companies' press releases to identify ClimateTech investments. Our findings indicate that early adopters of ClimateTech tend to have strong technological expertise in leadership. To diversify investment strategies, ClimateTech firms allocate resources between infrastructure investments and environmental technology investments. The former helps firms mitigate risk, as infrastructure can be used for both environmental and other applications, whereas environmental technology is exclusively dedicated to environmental impact. We observe a slightly higher proportion of firms investing in infrastructure, with a ratio of 2 to 1. When examining financial value and environmental impact, we find that infrastructure technology generates higher financial returns but has a lower environmental impact. In contrast, environmental technology does not contribute to financial value but leads to significant environmental benefits. Additionally, we identify an alternative way for firms to enhance financial value through ClimateTech: integrating it into their core products rather than using it for marketing or side ventures. Enhanced green products can also increase financial value, though their environmental impact remains mixed.