讲座主题：Carbon Pricing and Global Supply Chains
嘉宾简介：常鑫教授是南洋理工大学南洋商学院副院长和银行与金融系终身教授，研究领域涵盖公司金融，资产定价，会计研究。具体研究方向包括资本结构、企业创新，企业社会责任，企业并购重组，政治腐败，公司治理，财务报告，信息披露等。常鑫教授已在国际顶级英文学术期刊发表论文十余篇，其中包括四大国际顶尖金融学术期刊（JF, JFE, RFS, and JFQA）及会计顶级学术期刊（JAR, TAR and CAR）。常鑫教授还担任International Review of Finance和Asia-Pacific Journal of Financial Studies两家SSCI学术期刊的副主编，以及Risk Sciences，the International Journal of Theoretical and Applied Finance，Journal of Internet and Digital Economics的主编。
内容摘要：This lecture explores how carbon pricing policies reshape global supply chain networks by influencing firms’ sourcing decisions. Drawing on the staggered introduction of carbon taxes and emissions trading schemes (ETS) across supplier countries, it highlights the contrasting effects of these two policy instruments. Carbon taxes raise compliance costs and lead cost-sensitive customers to reduce collaboration with suppliers in taxed countries, particularly when customers face financial constraints, lower profitability, or intense product market competition. In contrast, ETS encourages customers with a sustainability orientation and innovation capacity to strengthen relationships with suppliers that demonstrate superior environmental performance. These findings reveal two distinct mechanisms—a cost effect associated with carbon taxes and an incentive effect associated with ETS. Additional evidence from U.S. cap-and-trade initiatives further supports the ETS findings. The lecture concludes by discussing what these results imply for firms’ sourcing strategies and the role of climate policy in the reconfiguration and sustainable transformation of global supply chains.
时间与地点：9月17日（周四）下午14:30-16:00 中央财经大学南路校区实验楼303会议室
此次学术活动获“中央高校基本科研业务费资助”（supported by “the Fundamental Research Funds for the Central Universities”）、“北京高等学校哲学社会科学创新中心首都数字经济高质量发展创新中心资助”（supported by “Beijing Higher Education Innovation Center for Philosophy and Social Sciences Center for Philosophy and Social Sciences—Capital Digital Economy High-Quality Development Innovation Center”）和“高等学校学科创新引智基地资助”（Supported by the 111 Center）（B20094），特此致谢。
撰稿：顾祎恒 排版：顾祎恒
初审：孙宝文 复审：王红梅
