Potential channels.
| Panel A: Bank-level climate change exposure | ||
|---|---|---|
| (1) MESt+1 | (2) ΔCoVart+1 | |
| Sea level rise * bank-level climate change exposure | 5.2954* (1.84) | 1.1361** (2.30) |
| Sea level rise | 0.0080***(4.33) | 0.0006** (2.00) |
| Controls | Yes | Yes |
| Firm fixed effects | Yes | Yes |
| Time fixed effects | Yes | Yes |
| Cluster by firm | Yes | Yes |
| Observations | 6098 | 6098 |
| Adjusted R2 | 0.3200 | 0.6503 |
| Panel B: Loan portfolio synchronicity | ||
| (1) MESt+1 | (2) ΔCoVart+1 | |
| Sea level rise * loan portfolio synchronicity | 0.0121* (1.81) | 0.0034*** (5.28) |
| Sea level rise | 0.0005 (0.40) | 0.0002 (0.94) |
| Controls | Yes | Yes |
| Firm fixed effects | Yes | Yes |
| Time fixed effects | Yes | Yes |
| Cluster by firm | Yes | Yes |
| Observations | 36835 | 36820 |
| Adjusted R2 | 0.2323 | 0.8696 |
| Panel C: Bank default probability | ||
| (1) MESt+i | (2) ΔCoVar+1 | |
| Environmental and climate policy uncertainty * Bank default probability | 0.0143*** (23.20) | 0.0009*** (11.62) |
| Sea level rise | 0.0096*** (12.55) | 0.0013*** (12.66) |
| Controls | Yes | Yes |
| Firm fixed effects | Yes | Yes |
| Time fixed effects | Yes | Yes |
| Cluster by firm | Yes | Yes |
| Observations | 30961 | 30961 |
| Adjusted R2 | 0.4076 | 0.8693 |
| Panel A: Bank-level climate change exposure | ||
|---|---|---|
| (1) MESt+1 | (2) | |
| Sea level rise * bank-level climate change exposure | 5.2954* (1.84) | 1.1361** (2.30) |
| Sea level rise | 0.0080***(4.33) | 0.0006** (2.00) |
| Controls | Yes | Yes |
| Firm fixed effects | Yes | Yes |
| Time fixed effects | Yes | Yes |
| Cluster by firm | Yes | Yes |
| Observations | 6098 | 6098 |
| Adjusted R | 0.3200 | 0.6503 |
| Panel B: Loan portfolio synchronicity | ||
| (1) MESt+1 | (2) | |
| Sea level rise * loan portfolio synchronicity | 0.0121* (1.81) | 0.0034*** (5.28) |
| Sea level rise | 0.0005 (0.40) | 0.0002 (0.94) |
| Controls | Yes | Yes |
| Firm fixed effects | Yes | Yes |
| Time fixed effects | Yes | Yes |
| Cluster by firm | Yes | Yes |
| Observations | 36835 | 36820 |
| Adjusted R | 0.2323 | 0.8696 |
| Panel C: Bank default probability | ||
| (1) MESt+i | (2) | |
| Environmental and climate policy uncertainty * Bank default probability | 0.0143*** (23.20) | 0.0009*** (11.62) |
| Sea level rise | 0.0096*** (12.55) | 0.0013*** (12.66) |
| Controls | Yes | Yes |
| Firm fixed effects | Yes | Yes |
| Time fixed effects | Yes | Yes |
| Cluster by firm | Yes | Yes |
| Observations | 30961 | 30961 |
| Adjusted R | 0.4076 | 0.8693 |
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.