Do bank incentives matter? Evidence from the impact of green finance on corporate carbon neutrality performance

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-11-12 DOI:10.1016/j.frl.2024.106459

Hao Wu , Yunling Song

引用次数: 0

Abstract

Bank incentives are pivotal to enterprises’ low-carbon transitions. Utilizing the 2021 China green finance evaluation as an exogenous shock to bank incentives, we show that increasing such incentives can significantly enhance the carbon neutrality performance of heavily polluting enterprises. Additionally, factors based on financing perspective and stakeholders’ attention moderate that relationship. The impact of bank incentives solely extends to the environmental dimension of ESG. Our results provide insights and policy implications for stakeholders and policymakers in promoting the impact of green finance.

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银行激励措施重要吗？绿色金融对企业碳中和绩效影响的证据

银行激励对企业的低碳转型至关重要。利用 "2021 中国绿色金融评价 "作为银行激励机制的外生冲击，我们表明，增加银行激励机制可以显著提高重污染企业的碳中和绩效。此外，基于融资角度和利益相关者关注度的因素也会缓和这种关系。银行激励措施的影响仅扩展到 ESG 的环境维度。我们的研究结果为利益相关者和政策制定者促进绿色金融的影响提供了见解和政策启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance