Green investment strategies and bank-firm relationship: a firm-level analysis
Pasquale Marcello Falcone ()
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Pasquale Marcello Falcone: Bioeconomy in Transition Research Group, IdEA, Unitelma Sapienza - University of Rome
Economics Bulletin, 2018, vol. 38, issue 4, 2225-2239
This paper investigates the determinants of firm's green investment strategies in equipment for pollution control. It uses micro-data from a large survey of Italian manufacturing firms from 2001 to 2006. In particular, we test whether the length of the firm-bank relationship affects the firm's probability of investing in environmentally friendly equipment. Our findings show that a longer relationship with the main bank fosters firms' involvement in green investment strategies in order to reduce their environmental impact. Conversely, the presence of a multiple credit relationship could concretely hinder a firm's investments towards environmental innovations.
Keywords: green investment strategy; bank-firm relationship; environmental innovation; probit model (search for similar items in EconPapers)
JEL-codes: Q5 G2 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-18-00383
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