{"title":"家族企业、财务约束和环境准备：一项国际研究","authors":"Zulfiquer Haider , Yefeng Wang , Yuan Wang","doi":"10.1016/j.intfin.2024.101979","DOIUrl":null,"url":null,"abstract":"<div><p>Using longitudinal data from 2013-2018 and a sample of 9,622 observations from 30 countries, we find that the relationship between family involvement and environmental preparedness is mediated by financial constraints, such that family firms are more likely to be environmentally prepared due to facing lower financial constraints. Furthermore, our findings suggest that the negative relationship between family involvement and financial constraint is strengthened by the quality of public governance while the negative relationship between financial constraint and environmental preparedness is weakened by the quality of the national environmental infrastructure. Our results hold for various robustness tests.</p></div>","PeriodicalId":48119,"journal":{"name":"Journal of International Financial Markets Institutions & Money","volume":"92 ","pages":"Article 101979"},"PeriodicalIF":5.4000,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Family firm, financial constraint, and environmental preparedness: An international study\",\"authors\":\"Zulfiquer Haider , Yefeng Wang , Yuan Wang\",\"doi\":\"10.1016/j.intfin.2024.101979\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>Using longitudinal data from 2013-2018 and a sample of 9,622 observations from 30 countries, we find that the relationship between family involvement and environmental preparedness is mediated by financial constraints, such that family firms are more likely to be environmentally prepared due to facing lower financial constraints. Furthermore, our findings suggest that the negative relationship between family involvement and financial constraint is strengthened by the quality of public governance while the negative relationship between financial constraint and environmental preparedness is weakened by the quality of the national environmental infrastructure. Our results hold for various robustness tests.</p></div>\",\"PeriodicalId\":48119,\"journal\":{\"name\":\"Journal of International Financial Markets Institutions & Money\",\"volume\":\"92 \",\"pages\":\"Article 101979\"},\"PeriodicalIF\":5.4000,\"publicationDate\":\"2024-03-15\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of International Financial Markets Institutions & Money\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1042443124000453\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Financial Markets Institutions & Money","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1042443124000453","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Family firm, financial constraint, and environmental preparedness: An international study
Using longitudinal data from 2013-2018 and a sample of 9,622 observations from 30 countries, we find that the relationship between family involvement and environmental preparedness is mediated by financial constraints, such that family firms are more likely to be environmentally prepared due to facing lower financial constraints. Furthermore, our findings suggest that the negative relationship between family involvement and financial constraint is strengthened by the quality of public governance while the negative relationship between financial constraint and environmental preparedness is weakened by the quality of the national environmental infrastructure. Our results hold for various robustness tests.
期刊介绍：
International trade, financing and investments, and the related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency denominated transactions and in the process has provided opportunities for its ongoing observation and study. The purpose of the Journal of International Financial Markets, Institutions & Money is to publish rigorous, original articles dealing with the international aspects of financial markets, institutions and money. Theoretical/conceptual and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • International financial markets • International securities markets • Foreign exchange markets • Eurocurrency markets • International syndications • Term structures of Eurocurrency rates • Determination of exchange rates • Information, speculation and parity • Forward rates and swaps • International payment mechanisms • International commercial banking; • International investment banking • Central bank intervention • International monetary systems • Balance of payments.
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