The impact of the level of green finance development on corporate debt financing capacity

Yu He and Ruizhi Liu

Finance Research Letters, 2023, vol. 52, issue C

Abstract: The study examines the impact of the level of green finance development on the debt financing capacity of heavy polluters and green enterprises in China. Using the entropy value method to calculate the level of green finance development at the region level from 2007 to 2020, we find that the increase in the level of green financial development helps to enhance the debt financing ability of green enterprises, while suppressing the debt financing ability of heavy polluting enterprises, and promotes the transformation of heavy polluting enterprises from the perspective of enterprise debt financing.

Keywords: Green finance; Heavy polluters; Green businesses; Debt financing (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:52:y:2023:i:c:s1544612322007280

DOI: 10.1016/j.frl.2022.103552

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