Seminar Vol. 215
Title: Brain Drain: The Impact of Air Pollution on Firm Performance
Speaker: Bohui Zhang, The Chinese University of Hong Kong, Shenzhen
Time: April 20th, 2020 10:00-11:30
About the speaker:
Bohui Zhang is the Presidential Chair Professor of Finance at The Chinese University of Hong Kong, Shenzhen, the Associate Director of Shenzhen Finance Institute, the Director of the Center for FinTech and Social Finance.
He is also the Professor of Finance at UNSW Business School, UNSW Sydney, and the Associate Director of the Institute of Global Finance (IGF). He studies FinTech, the media, Chinese capital market, and international capital markets. His papers have been accepted for publication in the gPlobal top-tier finance, accounting, and business journals such as the Review of Financial Studies, Journal of Financial Economics, Journal of Accounting Research, Management Science, Journal of Financial Quantitative and Analysis, Journal of International Business Studies, Review of Finance, Journal of Banking and Finance, Journal of Corporate Finance, Journal of Financial Markets, and Journal of International Money and Finance.
Abstract:
We hypothesize that firms located in more polluted areas are less able to recruit and retain quality human capital, and thereby suffer poor performance. First, we find that people increase search for jobs in less polluted areas on days when air pollution occurs in their location. Second, we show that air pollution reduces the accumulation of executive talent and high-quality employees. This brain drain effect is more pronounced when the public raises concerns about health triggered by air pollution. Third, firms located in polluted areas have poorer performance, especially when they have a greater dependence on human capital.
Interested in this webinar? Please contact Feiyan at feiyantang@jnu.edu.cn, or scan the QR code bellow to register by April 18th (12pm local time).
