讲座题目：Managing Reputational Risk Arising from Clients: How Media Scrutiny Drives the Inclusion of Environmental Covenants along Banks’ Lending Networks （客户引发的声誉风险管理：媒体监督如何驱动环境条款在银行借贷网络中的采纳）

主讲人：Mao Ying 香港岭南大学会计系

讲座时间：2025年11月27日10:00

讲座地点：学院216

内容摘要：

In the U.S., the media has increasingly pointed fingers at banks as financiers of firms’ environmentally harmful projects, causing significant reputational costs for these financial institutions. We find that following such negative media exposure, banks increase the use of environmental covenants in loan contracts with borrowers that do not have any reported environmental misconduct. We find a more pronounced increase in the use of environmental covenants for banks from regions with higher societal demand for environmental sustainability or those with a green orientation. This increase is also more pronounced for borrowers with higher visibility or located in Democratic-leaning states. Furthermore, we find that after negative media exposure, there is a significant decrease in the overall client environmental risk within the loan portfolios of the implicated banks. Both the use of environmental covenants and banks’ portfolio adjustment potentially contribute to this decrease.

在美国，媒体近年来日益将矛头指向银行，指责其为企业有害环境的项目提供资金。对此类融资行为的批评，已给金融机构招致了显著的声誉成本。我们发现，在此类负面媒体报道后，银行会在与没有任何环境违规记录的借款方签订的贷款合同中增加环境条款的使用。对于来自社会对环境可持续性要求较高地区或具有绿色导向的银行，环境条款的使用增加更为明显。同时，当借款方知名度较高或位于倾向民主党的州时，这种增长也更为突出。此外，我们发现负面媒体报道后，涉事银行贷款组合中的整体客户环境风险显著降低。环境条款的运用与银行投资组合调整共同推动了这一风险下降趋势。

主讲人简介：

毛莹，现任香港岭南大学会计系副教授，并担任黄经国艺术科技与商业研究中心主任。其主要研究领域涵盖企业溢出效应、信息披露、公司避税及ESG等，并于The Accounting Review、Journal of Financial and Quantitative Analysis、Accounting Horizons 等国际学术期刊发表多篇论文。其研究曾获香港特别行政区香港研究资助局“优配研究金（GRF）”及“杰出青年学者计划（ECS）”多次资助。