Impacts of climate change risks on financial performance of listed firms in agriculture industries in Vietnam

IF 2.4 Q2 AGRICULTURAL ECONOMICS & POLICY Journal of Agribusiness in Developing and Emerging Economies Pub Date : 2023-02-28 DOI:10.1108/jadee-07-2022-0137
Hanh Minh Thai, Giang Nguyen Thuc Huong, Tran Thi Hong Nguyen, Hien Pham, Huyen Nguyen, T. Vu
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Abstract

PurposeClimate change increases systematic risk for firms, especially those in the agricultural industry. Therefore, the need to examine the consequences of climate-related risks on agribusiness companies' financial performance across the globe and emerging markets has risen. In this context, the paper aims to investigate the effects of climate change risks on the financial performance of agriculture listed firms in Vietnam.Design/methodology/approachThe study sample includes 77 Vietnamese listed firms in the agricultural industry in the period of 2015–2019. The authors chose temperature, wind, rainfall and humidity proxies to measure climate change. The OLS regression, random regression and sub-sample analysis have been used to examine the impacts of climate risks on firms' financial performance.FindingsEmpirical results show that rain and temperature have positive impacts on financial performance of Vietnamese agriculture listed firms, while wind and humidity have insignificant impacts on financial performance.Research limitations/implicationsThe research helps researchers, businesses, practitioners and policymakers interested in the agricultural industry, especially those in developing and emerging countries, to develop a deep understanding of the impact of climate change risks on firm performance and therefrom prepare necessary measures to reduce the negative impacts.Originality/valueThis study adds to the literature stream on the impacts of climate change on financial performance. It is the first study to investigate this impact in Vietnam, a country which depends mainly on agriculture.
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气候变化风险对越南农业上市公司财务绩效的影响
目的气候变化增加了企业的系统性风险,尤其是农业企业。因此,研究气候相关风险对全球和新兴市场农业综合企业财务业绩的影响的必要性已经增加。在这种背景下,本文旨在调查气候变化风险对越南农业上市公司财务业绩的影响。设计/方法/方法研究样本包括2015-2019年期间77家越南农业行业上市公司。作者选择了温度、风、降雨量和湿度指标来测量气候变化。OLS回归、随机回归和子样本分析已被用于检验气候风险对企业财务业绩的影响。实证结果表明,降雨和气温对越南农业上市公司的财务业绩有正向影响,而风和湿度对财务业绩的影响不显著。研究局限性/影响该研究有助于对农业行业感兴趣的研究人员、企业、从业者和政策制定者,特别是发展中国家和新兴国家的研究人员,深入了解气候变化风险对企业绩效的影响,并据此制定必要的措施来减少负面影响。原创性/价值这项研究增加了关于气候变化对财务业绩影响的文献流。这是第一项在主要依赖农业的越南调查这种影响的研究。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
4.60
自引率
37.50%
发文量
58
期刊介绍: The Journal of Agribusiness in Developing and Emerging Economies publishes double-blind peer-reviewed research on issues relevant to agriculture and food value chain in emerging economies in Asia, Africa, Latin America and Eastern Europe. The journal welcomes original research, particularly empirical/applied, quantitative and qualitative work on topics pertaining to policies, processes, and practices in the agribusiness arena in emerging economies to inform researchers, practitioners and policy makers
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