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The 49th European Finance Association Annual Meeting happened from the 24th until the 27th of August in Barcelona, Spain. It was organised by IESE Business School in Barcelona and there, Miguel Ferreira had his paper presented.
If you want to read the paper you can do so in the following links:
“How Does Climate Change Affect Firm Sales? Identifying Supply Effects” by Miguel Ferreira
Abstract: We estimate the supply side effect of climate change on firm sales by exploiting variation in local temperature across suppliers of the same client. We find that suppliers experiencing a 1°C increase in average daily temperature decrease their sales by 2%. In addition, extreme hot and cold weather events lead to larger drops in sales. The effect is more pronounced among suppliers in manufacturing and heat-sensitive industries, which is consistent with lower labor productivity and labor supply when temperatures are higher. Financially constrained suppliers are more affected due to their lack of financial flexibility to adapt to changes in temperatures.
We all have a role to play
With just ten years to go, an ambitious global effort is underway to deliver the 2030 promise. We want to take a stand and we are calling on our community to showcase how they are contributing to the 17 Sustainable Development Goals, whilst influencing more and more people to unravel their role to play.
Here, you will find four different ways your ideas can flourish, dialogue can be enhanced, and action can take place. You can choose one or all four, and Nova SBE will be there to support you all the way and guarantee tangible change.
We all have a role to play, and this is your way in.
To Nova SBE, positive impact shall have a relationship to the UN's Sustainable Development Goals. Our community is committed to foster dialogue and action, by disseminating knowledge, launching innovative projects, supporting organizations' transformation, and leading by example, as responsible citizens.
