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AbstractThis article explores how climate change exposure affects the firms' cost structures. We use Sautner et al.'s (2023) measure of firm‐level climate change exposure based on earnings conference calls of publicly‐listed U.S. companies from 2002 to 2020 to capture both the opportunities and threats brought about by climate change and understand the comprehensive impact of climate change on the firms' cost structure decisions. Prior literature has documented that firms strategically alter their cost structure when demand is uncertain and firms are concerned about unusually high or low demand realizations. We build on this prior literature and find that firms exposed to climate change adopt a more rigid cost structure with a higher proportion of fixed costs. Our findings suggest that firms perceive higher congestion costs from unusually high demand realizations caused by long‐term climate change. We find that the effect of climate change exposure on cost rigidity is more pronounced for firms with more positive demand expectations and firms in more competitive product markets. Lastly, we find that investors react positively to the rigid cost structure of firms exposed to climate change. Overall, this article sheds light on the real effects of climate change on the firms' operational decisions.

Literacy scholars have offered compelling theories about and methods for understanding the digital literacy practices of youth. However, little work has explored the possibility of an approach that would demonstrate how different perspectives on literacies might intersect and interconnect in order to better describe the multifaceted nature of youth digital literacies. In this conceptual article, we adopt the idea of theoretical triangulation in interpretive inquiry and explore how multiple perspectives can jointly contribute to constructing a nuanced description of young people's literacies in today's digitally mediated global world. For this purpose, we first suggest a triangulation framework that integrates sociocultural, affective, and cognitive perspectives on digital literacies, focusing on recent developments in these perspectives. We then use an example of discourse data from a globally connected online affinity space and demonstrate how our multidimensional framework can lead to a complex analysis and interpretation of the data. In particular, we describe the substance of one specific case of youth digital literacies from each of the three perspectives on literacy, which in turn converge to provide a complex account of such literacy practices. In conclusion, we discuss the promise and limitations of our integrative approach to studying the digital literacy practices of youth.

Background: The COVID-19 pandemic has brought disparities in mental and physical health faced by ethnic minorities to the forefront. In the U.S., Hispanic/Latino communities are plagued by elevated rates of psychiatric conditions and trauma. Exacerbating this burden, common discourse often implicates Hispanic/Latino ethnicity as a causal factor, despite clear evidence of systemic causes, including lack of access to resources, and discrimination. Aims: To parse apart Hispanic/Latino ethnicity from determinants of wellbeing (such as trauma, financial status, and loneliness), we examined mental and physical health during COVID-19 via an online, anonymous survey available in both English and Spanish. Methods: We examined wellbeing across three participant groups, including two groups of Hispanic/Latino adults with varying degrees of 'belonging' to the dominant culture in their country of residence: Hispanic/Latino individuals living in Spanish-speaking and/or Central or Latin American countries (Group 1), Hispanic/Latino individuals living in the U.S. (Group 2), and non-Hispanic/Latino individuals living in the U.S. (Group 3). Results: Results demonstrated there were significant differences between groups in specific aspects of wellbeing. Most importantly, results showed Hispanic/Latino ethnicity does not significantly predict psychosocial wellbeing or psychosis risk, and identified several predictors of these outcomes, including U.S. residence, trauma, loneliness, and age. Conclusion: Our results demonstrate that Hispanic/Latino ethnicity itself is not a causal factor of poor psychosocial wellbeing or elevated psychosis risk and instead identify several social and systemic causal factors commonly faced by Hispanic/Latino Americans. We suggest that language reporting on minority mental health acknowledge systemic factors as contributing to poor outcome rather than referring to ethnicity as if it were a causal factor.