Climate Change and Adaptation in Global Supply-Chain Networks

Pankratz, Nora; Schiller, Christoph

doi:10.2139/ssrn.3475416

Cited by 33 publications

(21 citation statements)

References 17 publications

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“…At the firm level, Barrot and Sauvagnat (2016) find that when one of their suppliers is hit by a large natural disaster, firms experience an average drop of 2-3 percentage points in sales growth. This is supported by findings of Pankratz and Schiller (2019) who show that firm-performance is negatively affected if large suppliers of these firms have been exposed to extreme weather events but also that the downstream firms respond and adjust their supply chains to less exposed suppliers. While these papers study firm-level responses to exogenous shocks, we focus on aggregate impacts on the macro-level.…”

Section: Introductionsupporting

confidence: 53%

International Trade and the Transmission of Temperature Shocks

Osberghaus

Schenker

2022

SSRN Journal

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Section: Introductionsupporting

confidence: 53%

International Trade and the Transmission of Temperature Shocks

Osberghaus

Schenker

2022

SSRN Journal

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“…In reality, firms with no operations in Thailand could also be affected through their supplier relationships (Pankratz and Schiller;.…”

Section: Context and Datamentioning

confidence: 99%

The Materiality and Measurement of Physical Climate Risk: Evidence from Form 8-K

Gostlow

2020

SSRN Journal

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Pricing firm-level exposure to physical risk, such as hurricanes, wildfires and floods, poses large informational challenges to investors and policymakers. This leads to difficulties in estimating how the market is pricing climate risk. This paper explores whether Form 8-K, a filing that allows firms to immediately report on unscheduled material events to shareholders, holds any relevant and latent information on physical risk. By utilising a simple textual approach, Form 8-K offers a way to identify material firm-level physical risk information related to severe weather and natural disasters. This paper also compares the measure to others in the literature. When compared to measures of keywords in annual reports, Form 8-K can detect realised and real-time physical risk from firms that predict they will be exposed. This allows for the validation of these less frequent and forward-looking measures. When compared to more frequent measures that utilise quarterly earnings call transcripts between managers and investors, Form 8-K identifies physical risk exposure that is not mentioned in the earnings calls. This is taken as evidence that Form 8-K may hold some latent real-time information on physical risk exposure.

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“…The use of measures of network structure is new in the empirical literature on the propagation of disaster shocks through supply chains, although a similar issue has been examined in the context of financial networks (Acemoglu, Ozdaglar, et al, 2015;Brakman & van Marrewijk, 2019;Elliott et al, 2014). These findings add to the several strands of literature related to the capability of substituting for damaged firms or production network formation (Huneeus, 2018;Lim, 2017;Oberfield, 2018;Pankratz & Schiller, 2019).…”

mentioning

confidence: 95%