Regional carbon efficiency and corporate risk-taking

被引：0
|
作者：
Chen, Xiaohui [1 ]
Chen, Wen [2 ]
Wang, Xiaoxiang [3 ]
机构：
[1] Sichuan Univ, Sch Digital Econ, Jinjiang Coll, Meishan 620860, Peoples R China
[2] Nanjing Agr Univ, Coll Finance, 1 Weigang, Nanjing 210095, Jiangsu, Peoples R China
[3] Southwestern Univ Finance & Econ, Sch Finance, Chengdu 611130, Sichuan, Peoples R China
来源：
ECONOMIC CHANGE AND RESTRUCTURING | 2024年 / 57卷 / 03期
基金：
中国国家自然科学基金;
关键词：
Carbon emission; Regional carbon efficiency; Corporate risk-taking; POLICY; INVESTMENT; EMISSIONS; MATTER;
D O I：
10.1007/s10644-024-09695-w
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Based on Chinese city data and a sample of A-share listed companies from 2008-2019, we empirically confirm that improving regional carbon efficiency is conducive to enhancing corporate risk-taking. The mechanism tests show that improving regional carbon efficiency can increase corporate risk-taking by reducing corporate carbon risk. Reducing carbon risk leads to an increase in debt financing, a reduction in agency costs between shareholders and managers, and an incentive for R&D investments.
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页数：30
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