绿色金融对企业环境战略的影响：源头预防还是末端治理？

IF 2.5 3区经济学 Q2 ECONOMICS

Managerial and Decision Economics Pub Date : 2025-01-18 DOI:10.1002/mde.4483

Lin Wang, Yuning Li, Huixiang Zeng

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引用次数: 0

摘要

本文基于中国绿色金融改革创新试验区的准自然实验，探讨了绿色金融改革创新试验区对重污染企业环境战略的影响。结果表明，实施GFRIs后，重污染企业更倾向于末端治理，而不是源头防治。缓解融资限制和增强外部关注是GFRIs诱导企业采用末端处理的潜在渠道。此外，我们还针对企业和市场环境的异质性特征，探讨了政府融资机构的治理边界。研究结果丰富了政府金融机构经济后果的相关研究，并为制定下一步试点扩展提供了经验证据。

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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The Impact of Green Finance on Enterprise Environmental Strategies: Source Prevention or End-Of-Pipe Treatment?

Based on the quasinatural experiment of China's green finance reform and innovation pilot zones (GFRIs), the impact of GFRIs on the environmental strategies of heavy-polluting enterprises is discussed. The results show that after the implementation of GFRIs, heavy-polluting enterprises are more inclined to end-of-pipe treatment than source prevention. Alleviating financing restrictions and enhancing external attention are potential channels for GFRIs to induce enterprises to adopt end-of-pipe treatment. Additionally, we explore the governance boundaries of GFRIs for heterogeneous characteristics of enterprises and the market environment. The findings enrich the research related to the economic consequences of GFRIs and provide empirical evidence to formulate the next step of pilot expansion.

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来源期刊

Managerial and Decision Economics Multiple-

CiteScore

1.40

自引率

18.20%

发文量

242

期刊介绍： Managerial and Decision Economics will publish articles applying economic reasoning to managerial decision-making and management strategy.Management strategy concerns practical decisions that managers face about how to compete, how to succeed, and how to organize to achieve their goals. Economic thinking and analysis provides a critical foundation for strategic decision-making across a variety of dimensions. For example, economic insights may help in determining which activities to outsource and which to perfom internally. They can help unravel questions regarding what drives performance differences among firms and what allows these differences to persist. They can contribute to an appreciation of how industries, organizations, and capabilities evolve.