Public environmental concern and green bond issuance

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-08-22 DOI:10.1016/j.frl.2025.108259

Jinhui Ning , Wei Zhao , Hua Yue , Shi Yin

引用次数: 0

Abstract

This paper takes China's A-share listed companies from 2011 to 2022 as the research sample to investigate the impact of public environmental concern on corporate green bond issuance. The research shows that public environmental concern significantly promotes the issuance of green bonds by enterprises. The path test shows that public environmental concern plays a role in the issuance of green bonds by strengthening the government's environmental regulation and alleviating the agency conflict of management, that is, public environmental concern promotes the issuance of green bonds by enterprises through external pressure and internal governance. Further analysis shows that public environmental concern has a more significant impact on the issuance of green bonds by state-owned enterprises, heavily polluting enterprises, and enterprises in areas with a lower level of green finance development.

查看原文本刊更多论文

公众对环境的关注和绿色债券的发行

本文以2011 - 2022年中国a股上市公司为研究样本，考察公众环境关注对企业绿色债券发行的影响。研究表明，公众对环境的关注显著促进了企业发行绿色债券。路径检验表明，公众环境关注通过加强政府的环境监管和缓解管理的代理冲突对绿色债券的发行起作用，即公众环境关注通过外部压力和内部治理促进企业发行绿色债券。进一步分析表明，公众环境关注对国有企业、重污染企业和绿色金融发展水平较低地区企业发行绿色债券的影响更为显著。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

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