Annual Conference

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Labour Economics

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May 2025

Measuring Labor Market Match Quality with Large Language Models

Yi CHEN, Hanming FANG, Yi ZHAO, Zibo ZHAO
We propose a novel method to assess labor market match quality using large language models (LLMs). Our approach tasks LLMs with the role of a human resources specialist to evaluate the fit between an applicant and a job. Our study consists of two parts. First, we validate the LLM approach using an a...
Keywords: Large Language Models, Categorical Variables, Labor Market Match Quality
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Annual Conference

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Labour Economics

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May 2025

Longevity and Occupational Choice

Marius GUENZEL, Ulrike MALMENDIER, Denis SOSYURA
The average adult spends nearly half of their waking hours at work. We document significant implications of occupational choice for individual health outcomes, which are not explained by other known determinants of socioeconomic status, such as income and wealth. Using administrative vital records f...
Keywords: Longevity, mortality, occupational choice, job tasks
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Annual Conference

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Sustainable and Green Finance

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May 2025

E vs. G: Environmental Policy and Earnings Management in China

Darwin CHOI, Feifei LAI
We find evidence that firms engage in earnings management to potentially diminish environmental regulatory attention after the implementation of an automatic air pollutant monitoring system in China. Polluting firms increase their use of discretionary accruals and reduce the informativeness of earni...
Keywords: ESG, Environmental Regulations, Accrual-Based Earnings Management, Corporate Governance, Automatic Monitoring System
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Annual Conference

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Sustainable and Green Finance

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May 2025

Pricing the Priceless: The Financing Cost of Biodiversity Conservation

Fukang CHEN, Minhao CHEN, Lin William CONG, Haoyu GAO, Jacopo PONTICELLI
Biodiversity conservation incurs substantial economic costs. We investigate how financial markets price the risks such costs induce, exploiting the “Green Shield Action,” a major regulatory initiative launched in China in 2017 to enforce biodiversity preservation rules in national nature reserve...
Keywords: Alternative Data, Biodiversity Transition, Bonds, China, Sustainability
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Annual Conference

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Sustainable and Green Finance

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May 2025

Financial Innovation via Sustainable Lending

Anya KLEYMENOVA, Xi LI, Yinan LI
We examine the incentives that drive banks to introduce Sustainability-Linked Loans (SLLs). By analyzing a comprehensive dataset of banks leading these deals, we find that multinational banks, especially top players in the global syndicated markets, are more likely to offer SLLs than domestically fo...
Keywords: Syndicated Loans, Sustainability, Banks, Innovation, International Finance
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