Regional carbon efficiency and corporate risk-taking

Xiaohui Chen, Wen Chen () and Xiaoxiang Wang
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Xiaohui Chen: Sichuan University Jinjiang College
Wen Chen: Nanjing Agricultural University
Xiaoxiang Wang: Southwestern University of Finance and Economics

Economic Change and Restructuring, 2024, vol. 57, issue 3, No 7, 30 pages

Abstract: Abstract 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.

Keywords: Carbon emission; Regional carbon efficiency; Corporate risk-taking (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10644-024-09695-w

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