【主讲人】李伟凯 助理教授
【主持人】高明 副教授
【报告题目】Climate Change Concerns and Mortgage Lending

【报告摘要】We examine whether beliefs about climate change affect loan officers' mortgage lending decisions. We show that abnormally high local temperature leads to elevated attention to and belief in climate change in a region. Loan officers approve fewer mortgage applications and originate lower amount of loans in abnormally warm weather. This effect is not fully explained by changes in local economic conditions and demand for mortgage credit, and is considerably stronger among counties with strong prior beliefs about climate change, counties heavily exposed to the risk of sea-level rise, and during periods of heightened media attention. By contrast, Fintech lenders partially fill the gap in demand left by traditional lenders when local temperature is abnormally high.

【主讲人介绍】Frank Weikai Li (李伟凯) is an Assistant Professor of Finance at the Lee Kong Chian School of Business, Singapore Management University. He received his Ph.D. in Finance from the Hong Kong University of Science and Technology in 2017 and B.A. in Economics from Zhejiang University in 2012. His research areas are empirical asset pricing, behavioral finance, informed trading, and climate finance. His paper is published or forthcoming in Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Econometrics, and Review of Asset Pricing Studies. His works has been presented in major finance conferences such as American Finance Association annual meeting, Western Finance Association annual meeting, European Finance Association annual meeting, NBER Asset Pricing meetings, SFS Cavalcade Asia-Pacific, the Financial Intermediation Research Society Conference, the ABFER Annual Conference, China International Conference in Finance, Finance Down Under Conference, and conferences held by financial institutions such as Q-group, Bank of America Merrill Lynch, Macquarie, Chicago Quantitative Alliance, and the CFA Society in Singapore. His papers have received several awards such as the CICF Best Paper Award, the Chicago Quantitative Alliance Asian Academic Competition Research Paper Award, the FMA Asia Best Paper Award in Investment, the Asian Finance Association Best Paper Award, the AFBC PhD Forum Best Paper Award (first prize), and the Best Paper Award at Conference on the Theories and Practices of Securities and Financial Markets.