Low-carbon city pilot policy and green investors entry

Yong Jiang, Xiao Ding, Yi-Shuai Ren, Xiaolin Kong and Konstantinos Baltas

Finance Research Letters, 2024, vol. 64, issue C

Abstract: Using low-carbon city pilot policy as a natural experiment, this study investigates whether low-carbon city pilot policy can help enterprises attract green investor entry in China. The results show that low-carbon city pilot policy significantly attracts green investor entry, which is more pronounced in non-state-owned enterprises and heavily polluting enterprises. Mechanism studies indicate that low-carbon city pilot policy facilitates green investor entry by alleviating financing constraints and strengthening enterprises' risk-taking.

Keywords: Low-carbon city pilot policy; Green investor entry; Difference-in-differences model (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:64:y:2024:i:c:s1544612324004513

DOI: 10.1016/j.frl.2024.105421

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