报告题目：Does Air Pollution Influence Investor’s Trading Behavior? Evidence from China
报 告 人：郭萌萌  副教授
主 持 人：何勤英  教授
时    间：2019年4月16日（星期二）上午10：00
地    点：威尼斯87978797602室
报告摘要：
Building on research linking environmental factors to investors’ sentiment, we posit that there is a negative relation between air pollution and individual’s trading strategy. Analyzing the unique individual transaction data from Snowball, our results show that the air pollution negatively impacts individual investor’s willingness to buy, however, it positively influences investor’s willingness to sell. The results hold with alternative different measures of air pollution. Moreover, the effects show significant heterogeneity across different characteristics of cities, trades as well as stocks. Further, the results remain robust at city aggregated level. This study is the first to establish an association between air pollution and individual transaction information in China.
专家简介：
郭萌萌，西南财经大学经济与管理研究院副教授。2012年毕业于德国柏林洪堡大学，获得经济学博士学位。主要研究方向为应用计量经济学、环境经济学。已经发表多篇国际知名期刊论文。研究成果主要发表在Emerging Markets Review，Journal of Forecasting，Statistics and Computing，Review of Development Economics，Journal of Sports Economics等期刊。主持国家自然科学基金面上项目和青年项目各一项。长期担任Journal of Business and Economics Statistics, China Economic Review，Emerging Market Finance and Trade等期刊的匿名审稿人。