违约风险
业务
供应链
信用风险
经济
金融经济学
财务
营销
作者
Chenhao Guo,Sirui Zhang,Sian Chen
标识
DOI:10.1016/j.econlet.2024.111602
摘要
This study examines the effects of major customers' carbon risk on the default risk of a firm. We find that a firm's default risk measured by distance-to-default is positively associated with its major customers' carbon risk. Further analysis shows that this positive relationship is stronger for firms with weak fundamentals or heavy reliance on major customers. Our findings highlight the externality of carbon risk along the supply chains.
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