数字普惠金融与企业环境绩效:中国中小微制造企业的启示

IF 6.3 2区 经济学 Q1 BUSINESS, FINANCE Borsa Istanbul Review Pub Date : 2024-05-01 DOI:10.1016/j.bir.2024.02.009
Boqiang Lin, Chongchong Xu
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引用次数: 0

摘要

大量研究讨论了数字普惠金融(DIF)在金融服务领域的快速发展及其重要的经济作用;然而,有关其缓解中小微企业(MSME)融资限制并产生环境效益的潜力的研究却十分有限。本研究利用大量制造商样本,实证调查了 DIF 对中国中小微企业环境绩效的影响。研究结果表明,DIF 明显降低了中小微企业的废水排放强度。此外,DIF 对非国有企业、中小企业、减排压力较大地区的企业以及东部地区的企业的环境影响更为明显。进一步的机制分析表明,DIF 可以缓解中小微企业的融资约束。此外,加强末端治理、优化能源消费结构、增加研发投入也是 DIF 影响企业环境绩效的重要途径。最后,本研究提出了一些促进中小微企业绿色转型的政策启示。
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Digital inclusive finance and corporate environmental performance: Insights from Chinese micro, small- and medium-sized manufacturing enterprises

Extensive research has discussed digital inclusive finance’s (DIF) rapid growth in financial services and its vital economic role; however, limited research addresses its potential to mitigate micro, small- and medium-sized enterprise (MSME) financing constraints and generate environmental benefits. This study empirically investigates the effects of DIF on Chinese MSMEs’ environmental performance using a substantial manufacturer sample. The findings indicate that DIF significantly reduces the wastewater discharge intensity of MSMEs. Furthermore, DIF has a more pronounced environmental effect on non-state-owned firms, SMEs, firms in areas with more significant emission reduction pressure, and those in the eastern region. Further mechanism analysis reveals that DIF can ease the financing constraints of MSMEs. Moreover, strengthening terminal treatment, optimizing the energy consumption structure, and increasing investment in research and development are significant pathways through which DIF affects corporate environmental performance. Finally, this study proposes some policy implications to promote the green transformation of MSMEs.

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来源期刊
CiteScore
7.60
自引率
3.80%
发文量
130
审稿时长
26 days
期刊介绍: Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations
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