Can green finance reduce corporate carbon risk?
•Green finance significantly reduces carbon risk for Chinese A-share manufacturing companies.•Adopting green finance not only eases financial constraints but also lowers carbon risk, ultimately enhancing firm value.•Green finance in promoting sustainable practices and addressing carbon risks for cor...
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| Vydáno v: | Finance research letters Ročník 63; s. 105234 |
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| Hlavní autoři: | , , , |
| Médium: | Journal Article |
| Jazyk: | angličtina |
| Vydáno: |
Elsevier Inc
01.05.2024
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| Témata: | |
| ISSN: | 1544-6123, 1544-6131 |
| On-line přístup: | Získat plný text |
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| Shrnutí: | •Green finance significantly reduces carbon risk for Chinese A-share manufacturing companies.•Adopting green finance not only eases financial constraints but also lowers carbon risk, ultimately enhancing firm value.•Green finance in promoting sustainable practices and addressing carbon risks for corporations.
This study analyzes data from Chinese A-share market-listed manufacturing companies between 2009 and 2021. Our results underscore the effectiveness of green finance in mitigating corporate carbon risk, supported by robustness tests. Risk reduction is particularly pronounced for firms under stringent environmental regulations and those receiving greater media attention. Our findings indicate that green finance alleviates financial constraints, reduces carbon risk, and boosts firm value. This study deepens the understanding of the interplay between green finance and corporate carbon risk, offering valuable insights for companies aiming to reduce emissions, sustain economic performance, and manage carbon-related risks effectively. |
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| ISSN: | 1544-6123 1544-6131 |
| DOI: | 10.1016/j.frl.2024.105234 |