講座題目：Natural Disasters and Creative Destruction: Evidence from the Universe of Firms in China

講座時(shí)間：2023年6月14日（星期三） 中午12:30-14:00

講座地點(diǎn)：博學(xué)樓925

主講人：戚樹(shù)森

主講人簡(jiǎn)介：

戚樹(shù)森博士現(xiàn)任廈門大學(xué)管理學(xué)院財(cái)務(wù)學(xué)系副教授、博士生導(dǎo)師、北京大學(xué)數(shù)字金融研究中心特約研究員。2017年獲荷蘭馬斯特里赫特大學(xué)金融學(xué)博士學(xué)位并于同年加入廈門大學(xué)管理學(xué)院。研究領(lǐng)域?yàn)殂y行學(xué)和公司金融，在 Journal of International Business Studies、Review of Finance等雜志發(fā)表論文十余篇。

講座簡(jiǎn)介：

Using novel administrative data on the universe of firms in China, we study how tropical cyclones, the natural disaster that causes the largest direct economic losses worldwide, could be a source of creative destruction. We find that the occurrence of tropical cyclones during a firm’s first year of establishment leads to a higher likelihood of closure in the succeeding years. However, innovative firms are more likely to survive. Therefore, natural disasters have the potential for creative destruction because they may drive out the less innovative firms and select the more innovative ones for survival. Furthermore, the selection is stronger for the medium strength of tropical cyclones, for privately owned firms, and in regions with more local knowledge accumulation.