绿色债券发行对企业高质量发展的影响研究
The impact of green bond issuance on the high-quality development of enterprises
朱冬梅 1张爽爽 1杨楚风 1张颖1
作者信息
- 1. 东南大学 经济管理学院,江苏 南京 210096
- 折叠
摘要
在理论验证基础上利用 2015-2022 年中国A股上市企业数据,对绿色债券发行如何助力企业高质量发展进行实证分析.研究发现,绿色债券发行显著推动企业高质量发展,尤其是对重污染企业、国有企业以及非绿色改革创新试验区企业的推动作用更加显著.绿色债券发行主要通过技术提升和效率改进促进企业高质量发展,且公众环境关注度和企业 CEO 绿色经历具有显著的逆向和正向调节作用.研究丰富了绿色债券相关政策的微观经济效应,为进一步完善绿色金融政策框架提供了微观层面的参考.
Abstract
The market-driven promotion of green transformation in enterprises is an important measure to drive high-quality economic development.The study on the impact of green bond issuance upon enterprise development is of significant practical importance.Building on theoretical validation,this empirical analysis utilizes data from Chinese A-share listed companies from 2015 to 2022 to investigate how green bond issuance facilitates high-quality enterprise development.The study reveals that green bond issuance significantly promotes high-quality enterprise development,particularly among heavily polluting enterprises,state-owned enterprises,and enterprises in non-green reform and innovation trial zone.Green bond issuance primarily facilitates high-quality enterprise development through technological advancement and efficiency improvement,with public environmental concerns and the environmental experiences of the enterprise CEOs exhibiting significant inverse and positive moderating effects,respectively.This research enriches the microeconomic effects of green bond-related policies and provides a micro-level reference for the further enhancement of the green financial policy framework.
关键词
绿色债券/高质量发展/绿色全要素生产率/双重差分模型引用本文复制引用
基金项目
国家社会科学基金一般项目(22BGL029)
东南大学仲英青年学者支持计划(3214002311)
出版年
2024
NETL
NSTL
万方数据