报告人简介：王超（Vigdis W Boasson）博士是中密歇根大学商学院资深金融学教授，在纽约州立大学布法罗大学获取金融博士和国际商务两个博士学位。开创了一个基于跨学科的角度对企业财务分析深度剖析的方法，解决众多在传统金融投资学上忽视或未能解决的问题，曾在著名期刊如Journal of Business 等ISI索引期刊上发表了多篇高质量的学术论文。她连续几年赢得中密歇根大学工商管理学院优秀师资奖状。此外，她在冰岛担任过中央银行的汇率研究科学家和冰岛政府的金融顾问，在促进中国与冰岛之间的友谊、文化、教育、贸易关系上做出贡献。

报告简介：This study investigates the impact ofclimate change risks and corporate climate risk mitigation initiatives on stockreturns and firm value. It addresses the gap in traditional asset pricingmodels by integrating climate risk factors and examines the interplay betweencorporate sustainability efforts, firm valuation, and risk-adjusted stockreturns. Specifically, we explore the effects of climate change risks andcorporate sustainability initiatives for climate change and environmentalprotections on stock returns and firm value. The primary motivation of this paper isfour-fold.  Firstly, the traditionalasset pricing model focuses on one risk factor, i.e., the market-risk premiumfactor. As the global climate crisis intensifies, corporations face increasingvulnerabilities stemming from physical, transition, and liability risks. Giventhat the global climate crisis is intensifying and there are rapidenvironmental changes, we can no longer ignore the impact of climate change andthe environmental impact on asset pricing. Corporations face increasingvulnerabilities stemming from physical, transition, and liability risks.Secondly, although many studies have been undertaken on corporate socialresponsibility that include environmental variables, few studies have exploredsimultaneously the interplay of corporate climate risks, corporatesustainability initiatives, and firm value. To fill a gap in the academicliterature, this paper empirically examines thesimultaneous effects of corporate sustainability and climate changerisks on firm value and risk-adjusted stock returns.  This paper contributes to several strands ofliterature, i.e., corporate sustainability, asset firm value, investment riskand returns, by exploring the complex interactions among multiple causalrelationships.  By inserting the climaterisk factor into the traditional asset pricing model, we contribute to theasset pricing literature as well as corporate sustainability literature.  The findings of this research may shed lighton investment strategies that adapt to environmental and climate change.