气候风险对企业可持续发展绩效的影响：来自中国的证据

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-05-27 DOI:10.1016/j.frl.2025.107645

Liming Zhang, Cuiping Yang, Kuankuan Luo

{"title":"气候风险对企业可持续发展绩效的影响：来自中国的证据","authors":"Liming Zhang, Cuiping Yang, Kuankuan Luo","doi":"10.1016/j.frl.2025.107645","DOIUrl":null,"url":null,"abstract":"<div><div>Using a sample of Chinese A-share listed companies from 2010 to 2021, this study empirically examines the impact of climate risk on corporate sustainability performance and the underlying mechanisms. The results show that climate risk enhance sustainability performance, mediated by managerial climate attention, long-term orientation, and green innovation. Moreover, the positive effect is more pronounced in state-owned firms, mature firms, and firms in eastern China. This study clarifies how climate risk influences corporate sustainability performance and provides important insights for corporate managers and policymakers in making climate risk management decisions.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"83 ","pages":"Article 107645"},"PeriodicalIF":6.9000,"publicationDate":"2025-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The impact of climate risk on sustainability performance of enterprises: Evidence from China\",\"authors\":\"Liming Zhang, Cuiping Yang, Kuankuan Luo\",\"doi\":\"10.1016/j.frl.2025.107645\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>Using a sample of Chinese A-share listed companies from 2010 to 2021, this study empirically examines the impact of climate risk on corporate sustainability performance and the underlying mechanisms. The results show that climate risk enhance sustainability performance, mediated by managerial climate attention, long-term orientation, and green innovation. Moreover, the positive effect is more pronounced in state-owned firms, mature firms, and firms in eastern China. This study clarifies how climate risk influences corporate sustainability performance and provides important insights for corporate managers and policymakers in making climate risk management decisions.</div></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":\"83 \",\"pages\":\"Article 107645\"},\"PeriodicalIF\":6.9000,\"publicationDate\":\"2025-05-27\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612325009043\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612325009043","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

摘要

本文以2010 - 2021年中国a股上市公司为样本，实证分析了气候风险对企业可持续发展绩效的影响及其机制。研究结果表明，气候风险对企业可持续发展绩效有显著的促进作用，其中介因素包括管理者气候关注、长期导向和绿色创新。此外，国有企业、成熟企业和东部地区企业的正向效应更为明显。本研究阐明了气候风险如何影响企业可持续发展绩效，并为企业管理者和决策者制定气候风险管理决策提供了重要见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

The impact of climate risk on sustainability performance of enterprises: Evidence from China

Using a sample of Chinese A-share listed companies from 2010 to 2021, this study empirically examines the impact of climate risk on corporate sustainability performance and the underlying mechanisms. The results show that climate risk enhance sustainability performance, mediated by managerial climate attention, long-term orientation, and green innovation. Moreover, the positive effect is more pronounced in state-owned firms, mature firms, and firms in eastern China. This study clarifies how climate risk influences corporate sustainability performance and provides important insights for corporate managers and policymakers in making climate risk management decisions.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

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