全球温度冲击在股权资本成本中的定价

Agricultural & Natural Resource Economics eJournal Pub Date : 2020-04-26 DOI:10.2139/ssrn.3585742

R. Gregory

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引用次数: 6

摘要

使用APT模型，其中全球温度冲击是一个系统定价因素，风险溢价显著且为正。有证据表明，正暴露于温度冲击与工业二氧化碳排放量的增加有关。全球气候变化对股权成本的影响可能高达每年2.8%，这意味着全球气温冲击每年将导致全球GDP损失2.2万亿美元。

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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The Pricing of Global Temperature Shocks in the Cost of Equity Capital

Abstract Using an APT model where global temperature shocks are a systematically priced factor, the risk premium is significant and positive. Evidence is provided that positive exposure to temperature shocks is related to increasing CO2 emissions by industry. The global impact on the cost of equity could be as high as 2.8% per year, implying a global GDP loss of $2.2 Trillion per year due to global temperature shocks.

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Agricultural & Natural Resource Economics eJournal

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