張旋，南京航空航天大學經管學院副教授，英國格拉斯哥大學亞當斯密商學院金融學博士，主要研究方向包括金融風險管理、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 等學術期刊上發表論文四十餘篇。主持一項國家自然科學基金青年項目，并參與多項國家和省部級項目。目前兼任江蘇省金融業聯合會金融科技專業委員會秘書長，International Review of Economics & Finance、Finance Research Letters 等期刊副主編, EM, IREF, EAP等期刊客座主編。

講座摘要：

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.