Journal of Environmental Planning and Management,
Journal Year:
2024,
Volume and Issue:
unknown, P. 1 - 27
Published: Jan. 2, 2024
Macroeconomic
policies
profoundly
affect
companies'
behavior.
Data
on
China's
Economic
Policy
Uncertainty
(EPU)
Index
and
A-share
listed
companies
from
2007
to
2019
were
selected
investigate
the
impact
of
EPU
corporate
green
innovation
(GI).
We
find
that
(i)
promotes
both
substantive
(SUGI)
strategic
(STGI).
(ii)
Property
rights,
government
subsidies
(GSs),
industry
competition,
type
have
significant
moderating
effects
promotion
GI.
(iii)
GI
by
forcing
increase
R&D
investment
personnel.
(iv)
The
has
a
threshold
effect
cash
flow
volatility
(CFV).
Our
findings
provide
reference
for
further
guiding
enterprises
during
frequent
economic
policy
changes.
Accounting and Finance,
Journal Year:
2024,
Volume and Issue:
64(5), P. 4723 - 4748
Published: Aug. 20, 2024
Abstract
The
study
reveals
that
the
Green
Credit
Guidelines
significantly
encourage
firms'
pro‐environmental
mergers
and
acquisitions
(M&As)
among
polluting
industries,
as
evidenced
by
difference‐in‐differences
estimations
with
Chinese
listed
firms
(2004–2020).
Three
primary
mechanisms
include
increased
commercial
credit
financing,
improvements
within
firm
agencies,
heightened
scrutiny
from
external
analysts.
effect
is
more
prominent
in
non‐state‐owned
firms,
a
higher
number
of
executives
financial
backgrounds,
regions
lower
levels
green
development
environmental
regulations.
Post‐M&A,
acquiring
demonstrate
marked
decrease
governance
expenses
carbon
emissions,
alongside
an
improvement
overall
performance.
This
research
examines
whether
and
how
green
finance
policies
influence
carbon
emissions
reduction
in
heavily
polluting
industries.
Leveraging
the
establishment
of
Green
Finance
Reform
Innovation
Pilot
Zones
China
as
a
quasi-natural
experiment,
we
employ
difference-in-difference-in-differences
(DDD)
approach
to
analyze
panel
data
from
952
Chinese
listed
companies
between
2013
2020.
Our
findings
reveal
that
financial
significantly
reduce
emission
intensity
enterprises,
primarily
by
increasing
their
level
financialization.
effect
is
economically
meaningful,
improved
access
reallocates
resources
toward
environmentally
friendly
investments
incentivizes
firms
adopt
cleaner
technologies.
Furthermore,
identify
significant
heterogeneity
policy
impact,
with
financing
constraints,
ownership
structure,
firm
life
cycle,
size
shaping
degree
reduction.
study
contributes
literature
providing
empirical
evidence
on
role
catalyst
for
decarbonization
high-emission
industries
shedding
light
financialization
key
transmission
mechanism.
Heliyon,
Journal Year:
2024,
Volume and Issue:
10(7), P. e28925 - e28925
Published: March 30, 2024
Employing
the
data
of
Chinese
A-share
listed
firms
from
2010
to
2020
and
random
forest
approaches,
this
paper
investigates
whether
how
smart
manufacturing
demonstration
projects
influence
green
innovation
firms.
The
main
results
are
as
follows.
First,
contribute
promoting
firms'
innovation.
Additionally,
information
processing
capability
improvement,
efficiency
enhancement,
public
attention
increasement,
signal
effect
channels
that
improve
Finally,
positive
on
is
pronounced
for
capital-intensive
firms,
in
western
eastern
regions.
Journal of Environmental Planning and Management,
Journal Year:
2024,
Volume and Issue:
unknown, P. 1 - 27
Published: Jan. 2, 2024
Macroeconomic
policies
profoundly
affect
companies'
behavior.
Data
on
China's
Economic
Policy
Uncertainty
(EPU)
Index
and
A-share
listed
companies
from
2007
to
2019
were
selected
investigate
the
impact
of
EPU
corporate
green
innovation
(GI).
We
find
that
(i)
promotes
both
substantive
(SUGI)
strategic
(STGI).
(ii)
Property
rights,
government
subsidies
(GSs),
industry
competition,
type
have
significant
moderating
effects
promotion
GI.
(iii)
GI
by
forcing
increase
R&D
investment
personnel.
(iv)
The
has
a
threshold
effect
cash
flow
volatility
(CFV).
Our
findings
provide
reference
for
further
guiding
enterprises
during
frequent
economic
policy
changes.
