Managerial and Decision Economics,
Год журнала:
2024,
Номер
unknown
Опубликована: Дек. 25, 2024
ABSTRACT
Green
corporate
governance
not
only
contributes
to
the
sustainable
development
of
enterprises
but
also
promotes
overall
environmental
improvement
society,
achieving
a
win–win
situation
for
both
economy
and
environment.
With
progress
data
factors
have
become
key
motivator
green
governance,
promotion
marketization
elements
(MDE)
is
great
significance
in
releasing
factor
dividends
strengthening
system.
It
particularly
important
clarify
correlation
between
enterprise
performance
(GGP)
as
necessary
path
Chinese
enterprises.
Using
from
listed
firms
Shanghai
Shenzhen
A‐shares
2010
2022,
well
creation
trading
platform
quasi‐natural
experiment
building
markets,
this
research
investigates
impacts
MDE
on
GGP.
We
found
that
significantly
After
going
through
several
robustness
tests,
conclusion
holds
up.
The
mechanism
verifies
GGP
by
enhancing
firms'
innovation
capability,
optimizing
utilization,
alleviating
financing
constraints.
Through
heterogeneity
analysis,
paper
explores
how
human
capital
level,
developing
high‐tech
firms,
digital
finance
can
further
contribute
promotional
effect
Finally,
analysis
economic
consequences
finds
enhances
brings
about
effects
value
This
effectively
identifies
perspective,
which
offers
crucial
policy
recommendations
advancing
era
big
data.
International Journal of Finance & Economics,
Год журнала:
2024,
Номер
30(1), С. 522 - 551
Опубликована: Янв. 17, 2024
Abstract
Previous
literature
indicates
that
digitalization
offers
enterprises
competitive
advantages.
However,
its
potential
impact
on
risk
management
remains
uncertain.
Thus,
this
study
explores
the
causality
between
digital
transformation
and
systematic
of
Chinese
public
companies
during
2007–2020.
We
developed
a
digital‐related
keywords
dictionary
using
textual
analysis
to
identify
investments
in
assets
which
serve
as
measure
corporate
digitalization.
Our
findings
suggest
negative
correlation
enterprise
risk.
This
relationship
is
further
supported
by
robustness
tests,
adjustments
for
endogeneity,
random
forest
predictions.
The
risk‐reducing
effect
more
pronounced
non‐state‐owned,
small,
high‐asset‐density,
low‐investor‐attention
enterprises.
Additionally,
we
explore
mechanisms:
financial
leverage
channel,
operating
investor
loyalty
channel.
Empirical
observations
indicate
digitalization:
(1)
lowers
financing
costs,
curbing
an
inclination
towards
excessive
debt;
(2)
enhances
operational
cost
stimulates
sales
growth;
(3)
boosts
long‐term
holdings,
decreases
stock
price
synchronization,
mitigates
crash
risks.
new
insights
into
assessing
sustainability
mitigating
risks
Borsa Istanbul Review,
Год журнала:
2024,
Номер
24(3), С. 460 - 473
Опубликована: Фев. 23, 2024
Extensive
research
has
discussed
digital
inclusive
finance's
(DIF)
rapid
growth
in
financial
services
and
its
vital
economic
role;
however,
limited
addresses
potential
to
mitigate
micro,
small-
medium-sized
enterprise
(MSME)
financing
constraints
generate
environmental
benefits.
This
study
empirically
investigates
the
effects
of
DIF
on
Chinese
MSMEs'
performance
using
a
substantial
manufacturer
sample.
The
findings
indicate
that
significantly
reduces
wastewater
discharge
intensity
MSMEs.
Furthermore,
more
pronounced
effect
non-state-owned
firms,
SMEs,
firms
areas
with
significant
emission
reduction
pressure,
those
eastern
region.
Further
mechanism
analysis
reveals
can
ease
Moreover,
strengthening
terminal
treatment,
optimizing
energy
consumption
structure,
increasing
investment
development
are
pathways
through
which
affects
corporate
performance.
Finally,
this
proposes
some
policy
implications
promote
green
transformation
Financial Innovation,
Год журнала:
2025,
Номер
11(1)
Опубликована: Янв. 9, 2025
Abstract
This
study
explores
the
relationship
between
corporate
environmental,
social,
and
governance
(ESG)
disagreements
debt
maturity.
By
examining
panel
samples
from
Chinese
non-financial
listed
companies
covering
2007
to
2020,
we
find
that
ESG
negatively
influence
Even
after
conducting
a
series
of
robustness
tests
addressing
endogeneity
concerns,
adverse
effects
persisted.
A
heterogeneity
analysis
shows
this
negative
impact
is
more
significant
for
non-state-owned
enterprises,
small
enterprises
with
high
capital
intensity,
low
analyst
attention,
in
high-tech
industries.
Through
mechanism
analysis,
discovered
can
lead
information
asymmetry
heightened
default
risk,
subsequently
affecting
maturity
debt.
Further
confirms
on
structure
inhibits
long-term
investment
exacerbates
mismatch
financing
terms.
As
an
important
driving
force
for
economic
growth,
digital
trade
provides
opportunities
urban
green
development.
Using
city-level
data
in
China
from
2005
to
2020,
we
take
the
cross-border
e-commerce
comprehensive
pilot
zone
(CBEC)
as
a
policy
shock
construct
spatial
difference-in-difference
(SDID)
model,
which
is
adapted
quantitatively
examine
carbon
reduction
effects
and
impact
mechanisms
of
CBEC
policy.
The
results
confirm
that
implementation
significantly
reduces
emissions
(CE)
cities
about
4.5%,
mainly
due
resource
allocation
efficiency
promotion,
industrial
structure
upgrading,
technology
boosting.
Meanwhile,
there
significant
spillover
effect,
resulting
3.9%
CE
decrease
neighboring
cities.
In
addition,
has
more
effect
resource-based
high-degree
information
Our
provide
evidence
accelerate
development
