Does Shorter Borrower-lender Distance Lead to Reduction of Firms'Pollutant Emission?
Based on the perspective of supply-side geographical structure of financial branches,the paper uses the matching data from the Industrial Enterprise Database,China's Commercial Bank Database,as well as the Idustrial Enterprise Pollution Emissions Database from 2005 to 2012,and calculate"borrower-lender"distance to analyze the effect of borrower-lender distance on firms'pollutant emission scale.We find there is a significant effect of shorter borrower-lender distance on reducing firms pollutant emission sale;we also find that the effect above is achieved through the increase in firms'R&D outcome,as well as the alleviation of firms'financial constraints.Furthermore,development of green finance and the increase in green bank numbers will strengthen the positive effect of pollutant emission control of inclusive finance.This paper further enriches relevant theories of borrower-lender distance and provides a new research perspective for the realization of"Carbon Neutrality"through financial development.
万方数据
维普
