绿色金融、融资约束与污染企业投资

被引:64
作者
王康仕 [1 ,2 ]
孙旭然 [3 ]
王凤荣 [3 ]
机构
[1] 中国农业银行博士后科研工作站
[2] 清华大学经济管理学院
[3] 不详
关键词
绿色金融; 污染企业; 融资约束; 投资约束;
D O I
暂无
中图分类号
X196 [环境经济学]; F832 [中国金融、银行]; F275 [企业财务管理];
学科分类号
02 ; 0201 ; 020106 ;
摘要
筛选出2010—2015年A股192家污染企业作为样本,同时以金融资源从污染行业的净流出量变化衡量绿色金融发展水平,实证考察绿色金融发展对污染企业投资的影响机制。研究发现,污染企业投资面临融资约束的限制;绿色金融发展加剧了污染企业面临的融资约束,进而抑制了污染企业投资。进一步分样本考察发现,绿色金融发展只能通过加剧民营污染企业融资约束,抑制其投资水平,而对国有污染企业,绿色金融发展的投资约束作用尚未显现。
引用
收藏
页码:83 / 96
页数:14
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