Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:06:13pm CEST (Norway)
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Daily Overview |
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Green finance and climate policies Location: Auditorium I Session Chair: Zijian Chen, Fudan University | |
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Dissecting the Sentiment-driven Green Sector Premium in China with a Large Language Model 1: School of Data Science, Fudan University; 2: Fudan Development Institute, Fudan University; 3: Institute for Big Data, Fudan University; 4: School of Economics, Fudan University; 5: MOE Laboratory for National Development and Intelligent Governance, Fudan University General financial theory predicts a carbon premium as brown stocks bear greater uncertainty under the energy transition. However, a contrary green premium has been identified in China, as evidenced by the return spread between the green and brown sectors. The aggregated climate transition sentiment, measured from news data using a large language model, explains 12%-33% of the variability in the anomalous alpha. This factor intensified after China announced its national commitments. The sentiment-driven green premium arises from speculative trading by retail investors in green sector stocks, as evidenced by abnormal increases in turnover rates and elevated investor attention. In addition, our discussion highlights the advantages of large language models over lexicon-based sentiment analysis. | |