摘要
在提出“双碳”目标的背景下,为缓解全球气候变化带来的恶劣影响,企业亟须低碳转型以实现可持续发展和提升市场竞争力。选取2008-2021年A股上市公司面板数据为样本,通过Python爬取关键词测度企业低碳转型,研究表明低碳转型程度对企业全要素生产率有正向影响,其影响机制是:低碳转型程度高的企业,市场地位会提高,将获得更多绿色贷款和减少融资约束,最终促进企业全要素生产率提升。该结论通过一系列稳健性检验后依然有效。进一步研究发现,国有企业、非两职合一和位于东中部地区企业,进行低碳转型对企业全要素生产率的正向影响更加显著。研究结论为进一步促进企业低碳减排提供了理论依据。
In the context of proposing“double carbon”goals,to alleviate the adverse impacts of glob-al climate change,businesses urgently need to undergo low-carbon transformation for sustainability and enhanced market competitiveness.Using panel data from A-share listed companies in the years 2008 to 2021 as a sample,key terms related to corporate low-carbon transformation were measured through Python web scraping.The research indicates that the degree of low-carbon transformation has a positive impact on the total factor productivity of enterprises.The mechanism behind this im-pact is as follows:companies with a high degree of low-carbon transformation are likely to improve their market position,obtaining more green loans to alleviate financing constraints,ultimately pro-moting the overall productivity of enterprises.The results remain valid after a series of robustness tests.Further investigation reveals that state-owned enterprises,companies with separate roles for chairman and CEO,and enterprises located in the eastern and central regions of China show a more significant positive impact on total factor productivity through low-carbon transformation.The re-search findings provide a theoretical basis for further promoting corporate low-carbon emissions reduction efforts.
作者
李光辉
汪兴宇
苏杭
Li Guanghui;Wang Xingyu;Su Hang
出处
《金融理论与实践》
北大核心
2024年第2期65-74,共10页
Financial Theory and Practice
基金
国家自然科学基金项目“基于空间动态时变关联视角的国际股指波动风险测度与控制策略研究”(项目编号:72161001)
广西高校人文社会科学重点研究基地“广西发展战略研究院”课题(2023GDSIQM02)的阶段性成果。
关键词
“双碳”目标
低碳转型
全要素生产率
减排
“dual carbon”goals
low-carbon transition
total factor productivity
emission reduction
