Publications

Published work

  1. 2025

    Hao, T., Zhou, L., Hu, P., Zhao, T., & Wang, P. “From Hedge to Risk: Nonlinear Effects of Climate Policy Uncertainty on Corporate Biodiversity Exposure.” Energy Economics, 108885. Corresponding Author. DOI ↗

  2. 2025

    Wanyan, R., & Zhao, T. “The Dual Path of Fintech in Alleviating ESG Decoupling: A Dynamic Balance Between Short-Term and Long-Term Effects.” Finance Research Letters, 108443. Corresponding Author. DOI ↗

  3. 2025

    Wanyan, R., Zhao, T., Suo, L., & Lai, G. C. “Digital Transformation and Total Factor Productivity in Insurance Companies: A Catalyst or Inhibitor?” The Geneva Papers on Risk and Insurance—Issues and Practice, 50(1), 142–184. Corresponding Author. DOI ↗

  4. 2025

    Wanyan, R., Sun, Y., Suo, L., & Zhao, T. “How Does Directors’ and Officers’ Liability Insurance Affect the Fulfilment of Social Responsibility by State-Owned Enterprises?” The Geneva Papers on Risk and Insurance—Issues and Practice, 1–27. Corresponding Author. DOI ↗

  5. 2024

    Wanyan, R., & Zhao, T. “The Contradictory Impact of ESG Performance on Corporate Competitiveness: Empirical Evidence from China’s Capital Market.” Journal of Environmental Management, 371, 123088. Corresponding Author. DOI ↗

Policy Research

Selected policy work

Zhao, T., & Xiang, A. (2026). “The Evolution of Enterprise Organization Across Four Industrial Revolutions and Its Institutional Implications.” Accepted for publication as an internal research report, Development Research Center of the State Council.