题目：    The Impact of Air Pollution on Firm Inventory

主讲人： 李涵教授（西南财经大学）

时间：    4月13日（周四）下午3:00

地点：    公司五楼会议室

摘要：Although environmental protection is typically considered costly to firms, we present new evidences on channel through which the air pollution impairs firm productivity. A large body of literature indicates that low visibility is a major threat to transportation. Since air pollution reduces visibility, it interrupts logistics of firms. Using a large panel data set of Chinese manufacturing firms from 1998-2007, we find that low visibility caused by air pollution increases firms’ inventory holdings. We use instrumental variables to address the endogeneity issues, and adopt a quasi-experiment based on firms’ demands for transportation to further identify the causal relationship. Our results show that a 10% decrease in visibility causes firms to increase their inventory holdings by 1.1%. And firms rely more on transportation respond more strongly to the reduced visibility. 

主讲人简介：西南财经大学经济与管理研究院副经理，教授。主要研究领域为产业组织、应用微观经济学以及区域经济学，在Journal of Urban Economics, Journal of Retailing, Quantitative Marketing and Economics、《经济研究》、《管理世界》、《经济学季刊》等多个国内外顶级期刊上发表多篇论文。主持多项国家自然科学基金等项目。 
 

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