Corporate resilience, economic policy uncertainty, and corporate carbon emissions

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-10-03 DOI:10.1016/j.frl.2025.108636

Chao Shi , Xinghua Cui , Xingwang Li , Ning Xu , Zongling Niu

引用次数: 0

Abstract

This study examines the carbon emission reduction effect of enterprise resilience, and further explores the mitigation effect of external economic policy uncertainty on carbon emission reduction effects. The study findings are as follows: (1) Firstly, the enhancement of enterprise resilience significantly promotes carbon emission reduction, a result that holds true even after undergoing multidimensional robustness tests. (2) Secondly, this research conclusion varies depending on factors such as company ownership, industry pollution type, industry factor intensity, city size, urban location, and urban resource attributes. (3) Thirdly, the viability of enterprises, level of green innovation, and total factor productivity are three key pathways. (4) Lastly, further analysis reveals that economic policy uncertainty indeed weakens the carbon emissions reduction effect of enterprise resilience, with fiscal policy uncertainty.

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企业弹性、经济政策不确定性和企业碳排放

本研究考察了企业弹性的碳减排效果，并进一步探讨了外部经济政策不确定性对碳减排效果的减缓效应。研究发现：(1)首先，企业弹性的增强显著促进了碳减排，即使经过多维稳健性检验，这一结果也成立。(2)其次，受公司所有制、行业污染类型、行业要素强度、城市规模、城市区位、城市资源属性等因素影响，研究结论存在差异。(3)企业生存能力、绿色创新水平和全要素生产率是三条关键路径。(4)最后，进一步分析发现，经济政策的不确定性确实削弱了企业弹性的碳减排效果，财政政策的不确定性也削弱了企业弹性的碳减排效果。

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