Liability Structure and Carbon Emissions Abatement: Evidence from Chinese Manufacturing Enterprises

Yufeng Chen () and Zhitao Zhu
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Yufeng Chen: Zhejiang Gongshang University
Zhitao Zhu: Zhejiang Gongshang University

Environmental & Resource Economics, 2022, vol. 83, issue 2, No 8, 507 pages

Abstract: Abstract As it is known that the linkage between financial performance and environmental performance of enterprises has not obtained conclusive results, and the role of liability and its structure have not been considered yet. In view of these gaps, this paper employed the data of Chinese manufacturing firms from 2008 to 2011, to examine the impact of liability structure on enterprises’ carbon emissions abatement. The results manifest that both the relative and absolute proportions of long-term liabilities have a significant negative effect on the level value and growth rate of enterprise carbon emissions in China. Heterogeneity analysis demonstrates that enterprises in high energy consumption group have higher total carbon emissions and growth rate compared with enterprises in low and middle energy consumption groups. For enterprises of different ownership, the level of private-owned enterprises is higher and the growth rate is lower. The findings imply that policy makers should not adopt a one-size-fits-all policies to reduce firm carbon emissions.

Keywords: Liability structure; Long-term liability; Relative proportion; Absolute proportion; Carbon emissions abatement (search for similar items in EconPapers)
JEL-codes: C23 O13 P28 Q56 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s10640-022-00649-2

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