Projects per year
Air pollution is a growing hazard to human health. This study examines whether air pollution affects the formation of corporate human capital and thereby firm performance. We find that people exhibit an intention to look for jobs in less polluted areas when air pollution is high in their location. This suggests that individuals arrange their lives at least partially in response to air pollution. Consistent with this hypothesis, we find that the level of skilled executives and employees at a firm drops significantly when information on pollution in the firm's location is accessible in real time and when the pollution level in the firm's location increases, especially in locations where air pollution poses greater health concerns. In addition, parallel reductions in firm productivity and value are found and become more salient when firms have a greater dependence on human capital.
|Number of pages||31|
|Journal||Journal of Environmental Economics and Management|
|Early online date||21 Sept 2021|
|Publication status||Published - Oct 2021|
Bibliographical noteXiaofeng Zhao acknowledges that the work described in this paper was partially supported by a grant from the Research Grants Council of the Hong Kong Special Administrative Region, China ( Project No. - e.g. LU 23500019).
© 2021 Elsevier Inc.
- Air pollution
- Brain drain
- Firm performance
- Human capital
- 1 Finished
Short-sale Constraints and Access to Management: Evidence from a Randomized Experiment (賣空限制和管理層接觸：來自隨機實驗的證據)
Research Grants Council (HKSAR)
1/01/20 → 31/12/22
Project: Grant Research