报告题目：
From Smog to Flexibility: The Impact of the Clean Heating Plan
in China on Corporate Labor Costs
报 告 人：加拿大McGill大学 谭红平 教授
主办单位：金融系
报告时间：2025年9月8日 9:30-11:30
报告地点：世俱杯官方网站浑南校区文管学馆B306
报告摘要：
Exploiting the staggered rollout of China’s Clean Heating Plan from 2017 to 2022 as a quasi-experiment, this study investigates how national climate risk mitigation policies influence corporate labor cost stickiness. We find that the Plan significantly reduces air pollution in pilot cities and increases the local labor supply. This expansion of the labor pool leads to a decline in labor adjustment costs, as evidenced by the shortened recruitment time.Labor cost stickiness declines for up to three years following the Plan’s implementation. Further analysis reveals that this effect is primarily driven by headcount adjustments, particularly among high-skilled workers, rather than changes in average wages. The negative effect of the Plan on cost stickiness is more pronounced for firms with greater exposures to labor adjustment costs as proxied by birth rate, net resident inflows, and recruitment time at the firms’ domiciled city level, and by labor intensity, geographical concentration, and staffing flexibility at the firm level. Our findings highlight the economic impact of climate risk mitigation measures on firms’ operational flexibility and labor cost efficiency.
报告人简介：
谭红平，加拿大McGill 大学教授，博士生导师。主要研究领域包括大数据和机器学习、资本市场、企业融资等。在国际TOP期刊Journal of Accounting and Economics、Journal of Financial Economics、Journal of Accounting Research、The Accounting Review、Contemporary Accounting Research、Review of Accounting Studies 等发表论文。谭红平教授曾先后在加拿大约克大学商学院、加拿大滑铁卢大学会计与金融学院、美国纽约州立大学布法罗校区、加拿大北BC省大学(UNBC)商学院等学校任职，是活跃在国际学术一线的著名金融领域学者。