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Climate change leads to investment droughts, too. mgstudyo/E+/Getty ImagesClimate change poses the biggest risks to the most vulnerable people, and the same is true for businesses: Highly leveraged companies – those that have accumulated too much debt – are uniquely susceptible to climate shocks. That’s what we found in a forthcoming study in The Review of Corporate Finance that analyzed data from more than 2,500 U.S. publicly listed companies over 16 years. As professors who study climate finan

Omrane guedhamiBing liangYing zhengHuan kuangYing cathy zhengBryant universityWorld economic forumUniversity of massachusetts amherstUniversity of albertaUniversity of south carolinaToysr usCorporate financeSadok el ghoulSouth carolinaMassachusetts amherstResearch brief