From Financialization to Sustainability: The Impact of Climate Risks on Shadow Banking Activities in Non-Financial Firms in China

Sustainability, Год журнала: 2024, Номер 16(19), С. 8675 - 8675

Опубликована: Окт. 8, 2024

Climate risks are increasingly shaping corporate strategies, raising important considerations for sustainability. This study explores the impact of climate on shadow banking activities non-financial firms, examining how these influence sustainable financial practices. Analyzing a sample Chinese listed firms from 2010 to 2022, this finds that negatively associated with activities, reflecting shift towards more management. finding remains robust through various robustness checks and tests endogeneity. Heterogeneity results indicate reduction in due is pronounced higher dependence external financing weaker profitability. Mechanism suggest amplify cross-sectional increasing risk sources. Simultaneously, companies enhance their preference holding cash address potential risks. The combined effect factors leads decrease among aligning provides new insights into understanding drive decision-making enriches research determinants firm financialization.

Язык: Английский

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Going Green: Effect of green bond issuance on corporate debt financing costs

The North American Journal of Economics and Finance, Год журнала: 2024, Номер 75, С. 102299 - 102299

Опубликована: Окт. 11, 2024

Язык: Английский

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Climate conditions, credit risk cycles, and technological progress: Evidence from China

Technological Forecasting and Social Change, Год журнала: 2024, Номер 210, С. 123893 - 123893

Опубликована: Ноя. 26, 2024

Язык: Английский

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Climate change risk and bond risk premium

International Review of Financial Analysis, Год журнала: 2024, Номер unknown, С. 103885 - 103885

Опубликована: Дек. 1, 2024

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Green Light: Climate Change and Carbon Information Disclosure of Listed Companies in China

Emerging Markets Finance and Trade, Год журнала: 2024, Номер unknown, С. 1 - 22

Опубликована: Дек. 23, 2024

The impact of climate change on micro-level firms has become a focal point academic inquiry. This study examines carbon information disclosure among in the context using panel data from China's A-share market 2013 to 2021. develops Normalized Difference Vegetation Index at city level where each firm's headquarters is located. empirical results indicate significant positive correlation between and score. Furthermore, affects behavior through economic mechanisms catering regional green finance. also cross-sectional differences caused by geographical location, industry characteristics, shareholding, external attention.

Язык: Английский

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Multilayer asset association network, green technical cooperation innovation, and default risk: Evidence from China’s high energy-consuming industries

Journal of Cleaner Production, Год журнала: 2024, Номер 476, С. 143733 - 143733

Опубликована: Сен. 19, 2024

Язык: Английский

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