International Review of Financial Analysis, Journal Year: 2025, Volume and Issue: unknown, P. 104188 - 104188
Published: March 1, 2025
Language: Английский
Finance research letters, Journal Year: 2023, Volume and Issue: 60, P. 104892 - 104892
Published: Dec. 20, 2023
Language: Английский
Citations
44
Journal of Cleaner Production, Journal Year: 2023, Volume and Issue: 434, P. 140226 - 140226
Published: Dec. 23, 2023
Language: Английский
Citations
44
Sustainability Accounting Management and Policy Journal, Journal Year: 2024, Volume and Issue: 16(2), P. 443 - 483
Published: Dec. 13, 2024
Purpose Sustainable development requires companies to achieve a long-term balance between the economic, environmental and social spheres in their process, is not limited commercial success. Enhancing corporate environmental, governance (ESG) performance plays critical role achieving sustainable economic development. The purpose of this study empirically examine influence short-selling on ESG unravel mechanisms involved. Design/methodology/approach authors use data from Chinese A-share listed spanning 2010 2021 as research sample conduct empirical using mediating effect model, instrumental variables difference-in-differences methods. Findings findings suggest that has positive impact performance, thus, contributing realization goals (SDGs) balanced economy, environment society, rather than only promoting longevity. This can be attributed short-selling’s ability strengthen supervision constraints firms, improve firms’ intrinsic capabilities promote green technological innovation. Furthermore, ESG-enhancing effects are contingent upon internal external levels firms. That is, more significant enhancement for firms with weaker governance. extended analysis finds concerning market advantage, pronounced weak monopoly power those facing intense industry competition. In addition, when examining individual characteristics, potent nonstate-owned shorter listing history heightened risk resource mismatch. Practical implications provides theoretical support evidence perspective help boost contributions concrete projection concept at firm level. Good contributes SDGs by influencing strategy, operation management enterprise, enterprise actively create comprehensive value society environment. Social results show significantly enhance sustainability initiatives, thereby These carry substantial implications, foster improvement China’s capital system but also provide China policy-making practices other emerging markets. Originality/value addresses gap studying behavior enriches consequences literature determinants performance.
Language: Английский
Citations
20
Journal of International Financial Management and Accounting, Journal Year: 2025, Volume and Issue: unknown
Published: Jan. 31, 2025
ABSTRACT Industrial policy plays a crucial role in economic development and is gaining increasing attention. While previous literature has demonstrated the positive impact of these policies on industrial growth, their environmental remains unclear. Using establishment‐level data, we investigate how Chinese provincial affect corporate pollution levels. We find that establishments encouraged by exhibit significantly higher sulfur dioxide (SO 2 ) emissions. This effect mainly driven by: (1) lower risks penalties, (2) increased use cost‐effective but polluting energy sources, (3) reduced investments technologies. The firm's emissions more pronounced under certain conditions: when local governments face substantial pressures; government officials are locally promoted or have high probability political promotion; firms economically important state‐owned; lack rigorous external oversight; operate environments with citizen participation. Our findings suggest aimed at rapid growth may conflict goals, providing insights for policymakers balancing protection emerging economies.
Language: Английский
Citations
5
Finance research letters, Journal Year: 2025, Volume and Issue: unknown, P. 106913 - 106913
Published: Feb. 1, 2025
Language: Английский
Citations
3
International Review of Financial Analysis, Journal Year: 2025, Volume and Issue: unknown, P. 104068 - 104068
Published: March 1, 2025
Language: Английский
Citations
3
Finance research letters, Journal Year: 2023, Volume and Issue: 58, P. 104592 - 104592
Published: Oct. 17, 2023
Language: Английский
Citations
35
Energy Economics, Journal Year: 2024, Volume and Issue: 136, P. 107697 - 107697
Published: June 15, 2024
The prevalent financial misallocation phenomenon appears to restrict firms' ability be improve green innovation efficiency. Our theoretical model yields a testable hypothesis, which the empirical analysis validates. We consider economic implications, channels, and countermeasures that emerge from impacts promoted by on use firm-level dataset 2008 2021. findings suggest hinders Chinese show in supply chain concentration is most important channel for negative influence misallocation. also find firms face discrimination having access resources based type of ownership size. results should enable policy makers clearly see green-innovation gains can produced China eliminating
Language: Английский
Citations
15
Sustainable Development, Journal Year: 2024, Volume and Issue: 32(5), P. 4329 - 4337
Published: Jan. 29, 2024
Abstract Environmental credit evaluation is essential for the establishment of an environmental financial system, but most studies have focused on impact green instruments such as and bonds, resulting in insufficient attention to this core aspect. This study examines firm ESG performance using a staggered difference‐in‐differences model based China's rating policy. By analyzing data from 2010 2020 1018 publicly listed firms high‐pollution industries China, finds that implementation policy significantly improves performance. positive realized through enhancing information transparency, strengthening external supervision, alleviating financing constraints.
Language: Английский
Citations
10
Finance research letters, Journal Year: 2024, Volume and Issue: 64, P. 105476 - 105476
Published: April 30, 2024
Language: Английский
Citations
10