张旋，南京航空航天大学经管学院副教授，英国格拉斯哥大学亚当斯密商学院金融学博士，主要研究方向包括金融风险管理、公司金融，金融科技等。在Journal of Banking & Finance, Journal of Financial Markets，International Journal of Forecasting，Journal of International Financial Markets, Institutions & Money 等学术期刊上发表论文四十余篇。主持一项国家自然科学基金青年项目，并参与多项国家和省部级项目。目前兼任江苏省金融业联合会金融科技专业委员会秘书长，International Review of Economics & Finance、Finance Research Letters 等期刊副主编, EM, IREF, EAP等期刊客座主编。

讲座摘要：

Climate risk is a growing concern for businesses due to extreme weather events caused by global climate change. This study examines the impact of climate risk on firms' debt decisions in the Chinese market, using data from Chinese listed companies from 2011 to 2022. The findings are as follows: (1) Physical climate risk is negatively associated with firms' leverage ratios, primarily driven by increased cash holdings and financing constraints; (2) This effect is amplified by higher climate risk awareness and cross-regional investments; (3) The impact of climate risk on corporate debt decisions is more pronounced for state-owned enterprises, knowledge-intensive firms, and firms located in economically developed regions; (4) Firms with higher climate risk exposure demonstrate superior environmental performance. This study contributes to the literature by investigating the demand-side effects of climate risk on corporate debt decisions, proposing a novel measure of firm-level climate risk aligned with international guidelines, and uncovering new mechanisms linking climate risk and debt decisions in the Chinese market. The findings emphasize the need for firms to integrate climate considerations into operations and sustainability strategies, particularly in debt decision-making.