Seminar: Extreme Weather and Corporate Fixed Asset Policies: Leasing as Alternative Finance

The Sustainable Finance Institute, UEH-CELG would like to cordially invites lecturers, researchers and students to come and share your experiences at the seminar:

Topic: Extreme Weather and Corporate Fixed Asset Policies: Leasing as Alternative Finance
Presenter: Dr. Duong Tuan Kiet, Lecturer in Accounting and Finance, School for Business and Society, University of York
Time: 10:00 a.m. - 11:30 a.m. (Vietnam), Monday, 15 July 2024.
Location: Room B1-1001, UEH Campus B, 279 Nguyen Tri Phuong St, Ward 5, Dist 10, HCMC.

This paper investigates how weather-affected firms make decisions on fixed asset purchases and financing choices. Utilizing a unique dataset of over 26,000 firms across 40 countries, it is found that weather-affected firms are more likely to purchase fixed assets, increasing investments in machinery, equipment, and real estate. These purchases are primarily financed through equity, bank loans, and government grants. Notably, leasing serves as a critical fallback financing source for firms experiencing losses due to extreme weather. Firms relying exclusively on leasing often face significant external financing barriers, such as complex loan procedures, high collateral requirements, and increased loan rejection rates. Interestingly, firms that secure non-leasing finance for fixed asset purchases also tend to engage in leasing, highlighting their adoption of flexible strategies for fixed asset acquisition.

About the Presenter:
Dr. Kiet Duong is a Lecturer in Accounting and Finance at the School for Business and Society, University of York. Prior to joining University of York in December 2021, he was a Lecturer at Huddersfield Business School, University of Huddersfield. He has also held various roles, including Assistant Lecturer in Accounting and Finance and tutor in Mathematics and Statistics at the University of Essex, and exam paper tester for the London School of Economics and Political Science (LSE). Dr. Duong holds an MSc in Finance and a PhD in Finance from the University of Essex.

His research areas include corporate finance, corporate governance, corporate social responsibility, and CEO/board director characteristics. His research has recently been funded by the British Academy/Leverhulme Trust Small Research Grants 2023.

We anticipate your valuable engagement and participation in the seminar.

Yours sincerely,

Sustainable Finance Institute, UEH-CELG