Green Finance and Climate Technology: Evidence From a Quasi‐Natural Experiment

Business Ethics the Environment & Responsibility, Journal Year: 2025, Volume and Issue: unknown

Published: Jan. 5, 2025

ABSTRACT Addressing the productivity challenge of climate technology (ClimTECH) firms and avoiding “green trap” is crucial for decoupling economic growth from carbon emissions achieving sustainable development. This study uses establishment green finance reform innovation pilot zones as a quasi‐natural experiment employs difference‐in‐differences model to explore impact policies on total factor (TFP) ClimTECH its spillover effects. The results show that (1) Green significantly increase TFP, especially in state‐owned firms, actively disclose environmental information, led by long‐tenure CEOs, those regions with strong intellectual property protection. (2) channel analysis shows enhance firms' TFP easing financing constraints, encouraging improvements, improving capital allocation efficiency. (3) effect driven not only enhances firm value but also stimulates local reduces regional emissions. research offers theoretical insights policy implications strengthening frameworks enhancing responsibility firms.

Language: Английский

Green Finance Policy and Enterprise Total Factor Productivity: The Role of Corporate Environmental Social Responsibility and Financing Constraints

Journal of Cleaner Production, Journal Year: 2025, Volume and Issue: 493, P. 144953 - 144953

Published: Feb. 1, 2025

Language: Английский