Promoting corporate social responsibility through green finance legislation

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-01-27 DOI:10.1016/j.ribaf.2025.102778

Meng Zhao , Yuan Feng , Shuai Niu

引用次数: 0

Abstract

Green finance offers a pivotal mechanism to support Corporate Social Responsibility (CSR) by aligning financial systems with environmental sustainability goals. This study investigates the role of green finance in promoting CSR among high-polluting companies in China by utilizing a quasi-natural experiment. Our findings reveal green finance significantly improves CSR performance. Firms with higher financial vulnerability are more likely to undertake CSR activities to secure green financing; firms under more intensive media pressure receive higher benefits from green financing on CSR through enhanced accountability and disclosure. These findings suggest that policymakers tighten financing regulations and strengthen media oversight to encourage transparency and socially responsible business practices.

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance