资产可调配性和绿色创新

IF 6.1 2区经济学 Q1 BUSINESS, FINANCE

Journal of Financial Stability Pub Date : 2024-05-10 DOI:10.1016/j.jfs.2024.101270

Trung K. Do

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引用次数: 0

摘要

我们提出的证据表明，资产可调配性更强的企业更有可能参与绿色创新活动，这可以用企业的绿色专利和引用来衡量。这一发现支持了资金灵活性的概念，并经受住了许多稳健性和内生性检验。这种关系对于面临气候变化高度不确定性的企业以及高污染行业的企业尤为明显。此外，我们还发现了进一步的证据，表明追求绿色创新与企业价值的长期提升有关。这些见解揭示了在绿色金融促进可持续发展的背景下，资产可调配性如何与创新成果和企业绩效相关联。

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Asset redeployability and green innovation

We present evidence that firms with greater asset redeployability are more likely to engage in green innovation activities, as measured by corporate green patents and citations. This finding supports the notion of funding flexibility and withstands numerous robustness and endogeneity tests. The relationship is particularly pronounced for firms facing high climate change uncertainty, as well as those in high-polluting industries. Moreover, we find further evidence that the pursuit of green innovation is associated with improved firm value over the long term. These insights shed light on how asset redeployability correlates with both innovation outcomes and firm performance within the context of green finance for sustainable development.

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来源期刊

Journal of Financial Stability Multiple-

CiteScore

7.70

自引率

9.30%

发文量

审稿时长

34 days

期刊介绍： The Journal of Financial Stability provides an international forum for rigorous theoretical and empirical macro and micro economic and financial analysis of the causes, management, resolution and preventions of financial crises, including banking, securities market, payments and currency crises. The primary focus is on applied research that would be useful in affecting public policy with respect to financial stability. Thus, the Journal seeks to promote interaction among researchers, policy-makers and practitioners to identify potential risks to financial stability and develop means for preventing, mitigating or managing these risks both within and across countries.