講座題目：Managing Reputational Risk Arising from Clients: How Media Scrutiny Drives the Inclusion of Environmental Covenants along Banks’ Lending Networks （客戶引發(fā)的聲譽(yù)風(fēng)險管理：媒體監(jiān)督如何驅(qū)動環(huán)境條款在銀行借貸網(wǎng)絡(luò)中的采納）
主講人：Mao Ying 香港嶺南大學(xué)會計系
講座時間：2025年11月27日10:00
講座地點：學(xué)院216
內(nèi)容摘要：
In the U.S., the media has increasingly pointed fingers at banks as financiers of firms’ environmentally harmful projects, causing significant reputational costs for these financial institutions. We find that following such negative media exposure, banks increase the use of environmental covenants in loan contracts with borrowers that do not have any reported environmental misconduct. We find a more pronounced increase in the use of environmental covenants for banks from regions with higher societal demand for environmental sustainability or those with a green orientation. This increase is also more pronounced for borrowers with higher visibility or located in Democratic-leaning states. Furthermore, we find that after negative media exposure, there is a significant decrease in the overall client environmental risk within the loan portfolios of the implicated banks. Both the use of environmental covenants and banks’ portfolio adjustment potentially contribute to this decrease.
在美國，媒體近年來日益將矛頭指向銀行，指責(zé)其為企業(yè)有害環(huán)境的項目提供資金。對此類融資行為的批評，已給金融機(jī)構(gòu)招致了顯著的聲譽(yù)成本。我們發(fā)現(xiàn)，在此類負(fù)面媒體報道后，銀行會在與沒有任何環(huán)境違規(guī)記錄的借款方簽訂的貸款合同中增加環(huán)境條款的使用。對于來自社會對環(huán)境可持續(xù)性要求較高地區(qū)或具有綠色導(dǎo)向的銀行，環(huán)境條款的使用增加更為明顯。同時，當(dāng)借款方知名度較高或位于傾向民主黨的州時，這種增長也更為突出。此外，我們發(fā)現(xiàn)負(fù)面媒體報道后，涉事銀行貸款組合中的整體客戶環(huán)境風(fēng)險顯著降低。環(huán)境條款的運用與銀行投資組合調(diào)整共同推動了這一風(fēng)險下降趨勢。
主講人簡介：
毛瑩，現(xiàn)任香港嶺南大學(xué)會計系副教授，并擔(dān)任黃經(jīng)國藝術(shù)科技與商業(yè)研究中心主任。其主要研究領(lǐng)域涵蓋企業(yè)溢出效應(yīng)、信息披露、公司避稅及ESG等，并于The Accounting Review、Journal of Financial and Quantitative Analysis、Accounting Horizons 等國際學(xué)術(shù)期刊發(fā)表多篇論文。其研究曾獲香港特別行政區(qū)香港研究資助局“優(yōu)配研究金（GRF）”及“杰出青年學(xué)者計劃（ECS）”多次資助。
