دورية أكاديمية

Green finance and corporate environmental investment: 'Scale Up' or 'Efficiency Up'?

التفاصيل البيبلوغرافية
العنوان: Green finance and corporate environmental investment: 'Scale Up' or 'Efficiency Up'?
المؤلفون: Yang, Qu, Ming, Shiyi, Zhang, Rongguang, Yan, Haitao
المساهمون: Chia, Ricky Chee Jiun, National Natural Science Foundation of China
المصدر: PLOS ONE ; volume 19, issue 2, page e0297456 ; ISSN 1932-6203
بيانات النشر: Public Library of Science (PLoS)
سنة النشر: 2024
المجموعة: PLOS Publications (via CrossRef)
الوصف: The establishment of green finance reform and innovation (GFRI) pilot zone is an important measure of the Chinese government to urge enterprises to develop green transformation. This paper explores the impact of pilot policies in the GFRI pilot zone on corporate environmental investment. Based on 819 A-share listed enterprises from 2010 to 2020, our staggered difference-in-differences (staggered DID) estimation documents revealed that enterprises in the GFRI pilot zone significantly increased the corporate environmental investment efficiency but reduced the scale of corporate environmental investment.This conclusion remained robust after Propensity Scores Matching difference-in-differences (PSM-DID), replacing dependent variables, and shortening the time window. We contend that the increased research and development (R&D) expenditure and technological innovation are the potential mechanisms at work. Heterogeneity analysis showed that the establishment of GFRI improved the environmental investment efficiency of polluting enterprises but had no effect on green enterprises.Meanwhile, the effect of GFRI exhibited heterogeneity in the type of enterprise ownership. This paper evaluates the implementation effect of GFRI from the perspective of corporate environmental investment, and provides theoretical support and an empirical basis for green finance policy to serve China’s green economy.
نوع الوثيقة: article in journal/newspaper
اللغة: English
DOI: 10.1371/journal.pone.0297456
الإتاحة: https://doi.org/10.1371/journal.pone.0297456Test
حقوق: http://creativecommons.org/licenses/by/4.0Test/
رقم الانضمام: edsbas.C0A154B
قاعدة البيانات: BASE