Green finance pilot policy and corporate environmental social responsibility: empirical evidence from China's green finance reform and innovation pilot zones.

التفاصيل البيبلوغرافية
العنوان:	Green finance pilot policy and corporate environmental social responsibility: empirical evidence from China's green finance reform and innovation pilot zones.
المؤلفون:	Xie Q; School of Economics, Yunnan University, Wujiaying Ave., Kunming, 650500, China. cgxql778159@163.com.
المصدر:	Environmental science and pollution research international [Environ Sci Pollut Res Int] 2024 Aug; Vol. 31 (40), pp. 52784-52803. Date of Electronic Publication: 2024 Aug 19.
نوع المنشور:	Journal Article
اللغة:	English
بيانات الدورية:	Publisher: Springer Country of Publication: Germany NLM ID: 9441769 Publication Model: Print-Electronic Cited Medium: Internet ISSN: 1614-7499 (Electronic) Linking ISSN: 09441344 NLM ISO Abbreviation: Environ Sci Pollut Res Int Subsets: MEDLINE
أسماء مطبوعة:	Publication: <2013->: Berlin : Springer Original Publication: Landsberg, Germany : Ecomed
مواضيع طبية MeSH:	Social Responsibility*, China ; Environmental Policy ; Pilot Projects ; Conservation of Natural Resources
مستخلص:	The establishment of green finance reform and innovation pilot zone (GFRIPZ) is a pivotal strategy for harmonizing the twin goals of economic prosperity and environmental preservation. By applying panel data on Chinese A-share listed firms from 2011 to 2022, this study examines the influence of China's green finance pilot policy on corporate environmental social responsibility (ESR) using a difference-in-differences (DID) model. The study's findings indicate that the green finance pilot policy promotes corporate environmental social responsibility. The results remain robust after a series of robustness tests. Moreover, mechanism analysis reveals that the pilot policy promotes firms' ESR through three key channels: financing constraints, green innovation, and corporate governance mechanisms. Additionally, analyst attention can positively moderate the promotional effect of the green finance pilot policy on corporate ESR. Furthermore, this study reveals that the green finance pilot policy's impact on corporate ESR is more pronounced among large-scale firms and firms operating in regions characterized by stringent environmental regulations and greater marketization. The empirical findings present evidence for enhancing ESR through the implementation of the green finance pilot policy in China and offer insights for refining the green finance system. (© 2024. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)
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معلومات مُعتمدة:	KC-23233796 Yunnan University
فهرسة مساهمة:	Keywords: Difference-in-differences model; ESR; Environmental social responsibility; Green finance; Green finance pilot policy
تواريخ الأحداث:	Date Created: 20240819 Date Completed: 20240906 Latest Revision: 20240925
رمز التحديث:	20240926
DOI:	10.1007/s11356-024-34709-5
PMID:	39158660
قاعدة البيانات:	MEDLINE

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