課程資料

1. This course is a part of Prof. Hsu’ National Chair Professorship with the goal to deliver lectures and seminars around Taiwan.
2. This course is designed for “跨校博士生聯合培育計畫” which aims to incubate Ph.D. students from different universities.
3. Learn the latest research on sustainable finance and economics.
4. Exploration of the determinants of emissions and pollution.
5. Understanding the roles and influences of stakeholders in sustainable finance and economics.
6. Learn empirical designs and tests for statistical inferences on the (causal) effects of economic policies, infrastructures, institutional environments on regional and corporate pollution.

1. To maximize the availability to Ph.D. students (for the goals set up by National Chair Professorship and 跨校博士生聯合培育計畫), Prof. Hsu plans to give lectures in both Hsinchu (NTHU) and Taipei (NTU or NCCU). To reduce the transportation time and costs for students, Prof. Hsu plans to give two sessions (say 3 + 3 = 6 hours) on each lecture day.
2. This is a lecture-based course and will be taught in English.
3. Students will need to use English in their in-class reports.
4. Students will need to attend online or in-person conferences hosted by Prof. Hsu, including “Taiwan Symposium on Innovation Economics and Entrepreneurship” ( https://oir.site.nthu.edu.tw/p/404-1487-164855.php), “ NTHU-UNSW-SMU Symposium on Sustainable Finance and Economics” ( https://oir.site.nthu.edu.tw/p/404-1487-225483.php), and AIEA monthly seminar ( https://www.aiea.org/0504)

A sample list of weekly teaching schedule (and my related papers)
1. Green innovations:
- “Green Entrepreneurship” with Wan-Chien Chiu, Shenje Hshieh, and Geoffery Zheng.
- “Grow in the Sun: Valuation and Development of Green Innovation
under Mandatory Carbon Disclosure”, with Jianqiang Chen and Pei-Fang Hsieh.
- “Green Products”, with Wan-Chien Chiu, Kai Li, and Joy Tianjiao Tong.
- “Corporate philanthropy and innovation: The case of the pharmaceutical industry,” with Frederick Bereskin, Journal of Applied Corporate Finance 28 (2), 80-86, 2016.
- “Corporate philanthropy, research networks, and collaborative innovation,” with Frederick Bereskin and Terry L. Campbell, Financial Management, 45 (1), 175-206, 2016.

2. Emissions and pollutions:
- “The pollution premium,” with Kai Li (PKU) and Chi-Yang Tsou, Journal of Finance 78(3), 1343-1392, June 2023.
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- “Carbon Emissions Under Exchange Rate Risk”, with Yan Li, Mark P. Taylor, and
Zigan Wang.
- “Financial Frictions and Pollution Abatement Over the Life Cycle of Firms”, with Min Fang and Chi-Yang Tsou

3. Stakeholders’ roles:
- “The eco-gender gap in boardrooms,” with Kai Li and Yihui Pan, Management Science (Sustainability Department).
- “Leviathan Inc. and corporate environmental engagement,” with Hao Liang and Pedro Matos, Management Science (Finance Department), 69(12), 7719-7758, December 2023.
- “Environmental liabilities, borrowing costs, and pollution prevention activities: the nationwide impact of the Apex Oil ruling,” with Jianqiang Chen, Pei-Fang Hsieh, and Ross Levine, Journal of Corporate Finance, 91, 102739, April, 2025.
- “Corporate social responsibility and external disruptions,” with Hsiao-Hui Lee and Long Yi, Journal of Corporate Finance, 89, 102675, December 2024.
- “In the mood for creativity: Sunshine-induced mood, inventor performance, and firm value,” with Yangyang Chen, Madhu Veeraraghavan, and Edward Podolski, Journal of Empirical Finance, 78, 101527, Sept. 2024.
- “Stakeholder Disciplining from Benefit Corporation Laws: Evidence from Stock Returns around Product Controversies”, with Hsiao-Hui Lee, Qingyu Meng, and
Hong Wu.

4. Regulation and policies:
- “Information disclosure and peer innovation: Evidence from mandatory reporting of clinical trials,” with Kyungran Lee, S. Katie Moon, and Seungjoon Oh, Journal of Financial and Quantitative Analysis, 60(7), 3267-3310, November 2025.
- “Pay transparency and inventor productivity: Evidence from state-level pay secrecy laws,” with Huasheng Gao and Jin Zhang, forthcoming, RAND Journal of Economics, 56(4), 389-418, Winter 2025
- “Gender gap in the ownership of promising land,” with Cyrus C. Y. Chu and Yi-Ting Wang, Proceedings of the National Academy of Sciences (PNAS), 120 (24) e2300189120, June 2023.
- “Freedom of Information and Regulatory Enforcement with Respect to Corporate Pollution”, with Adriana Cordis, Hunghua Pan, and Jin Zhang.

Po-Hsuan Hsu holds the National Chair Professor, Tsing Hua Chair Professor, and NTHU Ching-Jing Distinguished Talent Chair of College of Technology Management, National Tsing Hua University. Prior to returning to Taiwan, he was an assistant professor of finance at University of Connecticut, and a professor at the University of Hong Kong. He received his bachelor degree in International Business, his master degree in Management of Technology, and his Ph.D. degree in Finance. His research focuses on innovation economics and financial markets, but he also touches on sustainability and financial econometrics. His research has been published in prestigious journals in Economics, Finance, Technology Management, Accounting, Information System, etc. He is serving as Associate Editor for various journals, such as Management Science (Entrepreneurship and Innovation Department, Finance Department), Journal of Financial and Quantitative Analysis, and Research Policy. He is currently a Senior Fellow of Mack Institute for Innovation Management of The Wharton School of University of Pennsylvania, a Fellow of the Asian Bureau of Finance and Economic Research (ABFER), and a TPRI Fellow of Technology & Policy Research Initiative (TPRI) of Boston University, and was a Batten Fellow of Batten Institute for Entrepreneurship and Innovation of University Virginia's Darden School of Business. He is also active in organizing and hosting in-person and online seminars and international conferences in Innovation Economics and Sustainable Finance, including the AIEA-NBER conference, Global Entrepreneurship and Innovation Research Conference (formerly known as Darden-Cambridge Judge Entrepreneurship and Innovation Research Conference), Taiwan Symposium on Innovation Economics and Entrepreneurship (39 events by 2025 end), and NTHU-UNSW-SMU Symposium on Sustainable Finance and Economics (11 events by 2025 end). His papers won the best paper awards in various international and Asian conferences, and have been covered in media for many times.

開課單位:清大計量財務金融系
聯絡人: 許博炫老師
email: [email protected]