气候变化
收益
持续性
资产(计算机安全)
业务
经济
自然资源经济学
财务
计算机科学
海洋学
生态学
地质学
计算机安全
生物
作者
Viput Ongsakul,Pandej Chintrakarn,Pornsit Jiraporn
标识
DOI:10.1080/20430795.2024.2326817
摘要
Taking advantage of an innovative measure of firm-specific exposure to climate change generated from a powerful textual analysis, we explore the effect of climate change vulnerability on asset redeployability. Redeployable assets are those that can be used in several ways. Highly redeployable assets improve sustainability as they can be reused when conditions change, decreasing the demand for new assets and thereby conserving natural resources. Our findings suggest that firms more vulnerable to climate change exhibit a lower level of asset redeployability, consistent with the notion that exposure to climate change exacerbates managerial myopia, causing managers to prioritize short-term asset utilization above longterm redeployability. Additionally, we find that the negative effect of climate change exposure on asset redeployability is less pronounced for firms with more innovation. Our research reveals another important aspect of sustainability that is threatened by climate change.
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