Research on the Impact of Low Carbon Economy on Financing Efficiency of Enterprises

Authors

  • Qiankun Yu

DOI:

https://doi.org/10.54097/3ms8jq50

Keywords:

low-carbon city pilot; Financing efficiency; DEA.

Abstract

This article focuses on the efficiency of corporate financing and uses data from A-share listed companies from 2009 to 2022 to conduct a quasi natural experiment on the implementation effect of low-carbon city pilot policies, examining whether the pilot policies can promote corporate financing efficiency. Research analysis reveals that policies have a promoting effect on corporate financing efficiency, mainly through reducing agency costs and improving the quality of environmental information disclosure. It has a significant positive impact on companies in the tertiary industry, enterprises facing major pollution challenges, large-scale enterprises, and state-owned enterprises. Finally, some insights are put forward on the development of low-carbon cities and the green transformation of enterprises in the context of dual carbon.

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References

[1] Hong Tao, Wang Yangyang, Yao Shujie Low carbon city pilot policies and corporate ESG performance: A perspective based on corporate investment preferences Industrial Economic Review: 1-20

[2] Liu Xiaohong, Jiang Keshen Environmental Regulation, Energy Consumption Structure, and Haze: An Empirical Test Based on Inter provincial Panel Data [J]. Land and Resources Science and Technology Management, 2016, 33 (01): 59-65

[3] Zheng Minggui, Qiu Junyuan, Yan Shan, et al. Have voluntary environmental regulations alleviated corporate financing constraints—— the moderating effect based on agency costs and social responsibility [J]. Financial Theory and Practice, 2024 (01): 1-12

[4] Van Leeuwen G, Mohnen P. Revisiting the Porter hypothesis: an empirical analysis of green innovation for the Netherlands [J]. Economics of Innovation and New Technology, 2017, 26(1-2): 63-77.

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Published

25-11-2024

How to Cite

Yu, Q. (2024). Research on the Impact of Low Carbon Economy on Financing Efficiency of Enterprises. Highlights in Business, Economics and Management, 44, 200-207. https://doi.org/10.54097/3ms8jq50