教育部人文社科重点研究基地中央财经大学中国精算研究院学术活动

精算论坛第266期讲座

(2025年9月11日)

讲座主题：Green Investment and Cash Holdings under FinancialConstraints

摘要：We investigate two types of investment undertaken by financially constrained firms: capital investment, which accelerates capital accumulation, and green investment, which mitigates disaster risk. Our analysis reveals that these investments exhibit strikingly different relationships with cash holdings. While capital investment increases monotonically with cash holdings, green investment initially rises but eventually declines, converging to the level observed in unconstrained firms.

报告人：Yuan Tian

Yuan Tian教授于日本京都大学经济系获得本科硕士博士学位。曾任日本学术振兴会外国人特别研究员，哥伦比亚大学、京都大学、香港理工大学等访问学者，现任日本龙谷大学经济系教授(Professor)，主要从事连续时间动态公司金融、行为金融以及金融市场微观结构等方面的理论研究。在Journal of Banking and Finance,International Review of Financial Analysis, Journal of Economic Dynamics and Control, International Review of Economics and Finance, Economic Modelling等期刊上发表学术论文多篇。论文曾选入2018年Financial Management Association (FMA) Annual Meeting Best Paper Award Semifinalist。2023年获得Nippon Finance Association研究奖励奖。

讲座时间：2025年9月11日（周四）早上9:30-11:30

报告地点：沙河学院楼13号215

邀请人：郑敏