How do firms cope with losses from extreme weather events?

Benincasa, Emanuela; Betz, Frank; Gattini, Luca

doi:10.2139/ssrn.4171196

Cited by 4 publications

(4 citation statements)

References 41 publications

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“…For Ireland, only 3-digit outward postal codes (Eircodes) are available in the GeoNames database for copyright reasons. On average, 3-digit postal codes correspond to an area of 3.7km × 2.9km.12 The value is comparable, despite some differences, with what reported byBenincasa et al (2022) using survey data. Specifically, according to the 2019 Enterprise Survey, at the question "Over the last three years, did this establishment experience monetary losses due to extreme weather events (such as storms, floods, droughts, or landslides)?"…”

mentioning

confidence: 64%

Floods and firms: vulnerabilities and resilience to natural disasters in Europe

Fatica,

Katay,

Rancan

2024

SSRN Journal

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mentioning

confidence: 64%

Floods and firms: vulnerabilities and resilience to natural disasters in Europe

Fatica,

Katay,

Rancan

2024

SSRN Journal

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“…Second, manufacturing enterprises tend to adjust financial behaviours to adapt to extreme climate risks. Benincasa et al (2022) indicate that firms easily affected by extreme climate events are likely to invest in long-term assets. Huang et al (2018) suggest that firms in countries with severe climate risks are prone to hold more cash and pay lower cash dividends.…”

Section: Manufacturing Enterprises' Adaptation Behaviours To Extreme ...mentioning

confidence: 99%

The Effects of Extreme Climate Events on Green Technology Innovation in Manufacturing Enterprises

Wang,

Li,

et al. 2024

Journal of Business Economics and Management

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The increasing intensity and frequency of extreme climate events have made improving the adaptability to extreme climate events a strategic imperative for manufacturing companies. This paper investigates whether manufacturing enterprises increase green technology innovation affected by different extreme climate events. Based on panel data of Chinese listed manufacturing enterprises, we show that extreme precipitation events can positively promote green technology innovation, yet extreme temperature events do not. Heterogeneity analyses suggest that the effect of extreme precipitation events on green technology innovation is more significant for non-state-owned enterprises, poor performance enterprises, and high R&D intensity enterprises than other enterprises. Furthermore, the facilitating effect of extreme precipitation events on green technology innovation is merely temporary.

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“…these events can disrupt the supply chain, reduce the productivity of labour and resources, and damage business infrastructure and assets. they also increase the need for external finance (Benincasa et al, 2023). this section explores how european companies are responding to these physical climate risks and the strategies they are adopting to enhance their resilience and competitiveness.…”

Section: Firms Favour Mitigation Over Adaptation Measures Creating a ...mentioning

confidence: 99%

EIB Investment Report 2023/2024: Transforming for competitiveness

2024

EIB Investment Report

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The European economy is under pressure. Growth is slowing and competitive challenges are rising, all while EU firms navigate the demands of the green transition. Coordinated support from national governments and EU institutions proved critical after the COVID-19 pandemic, helping Europe to bolster its resilience to future shocks and spurring the investment needed to transform and modernise the economy. As a result, progress was made in digitalisation, energy efficiency, decarbonisation and reinforcing supply chains. The pace of change needs to accelerate, however, even as investment becomes harder to sustain. To remain competitive, the European Union and its members need to improve productivity, encourage innovation, address skill gaps, develop new technologies and supporting young, dynamic firms. The report, which is based on the EIB Group’s annual Investment Survey, provides insights on how EU firms are dealing with these pressures, and whether they are taking the necessary steps to transform their businesses. The report’s Key Findings are available here. Contents Part I Sustaining investment in challenging times 1. The macroeconomic environment 2. Government investment 3. Corporate investment Part II Accelerating transformation for competitiveness 4. Innovation in the global context 5. Investing in green transformation Data annex Glossary of terms and acronyms

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How do firms cope with losses from extreme weather events?

Cited by 4 publications

References 41 publications

Floods and firms: vulnerabilities and resilience to natural disasters in Europe

Floods and firms: vulnerabilities and resilience to natural disasters in Europe

The Effects of Extreme Climate Events on Green Technology Innovation in Manufacturing Enterprises

EIB Investment Report 2023/2024: Transforming for competitiveness

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