企业层面的碳保证对贸易信贷重要吗？

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2024-08-23 DOI:10.1016/j.frl.2024.106001

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引用次数: 0

摘要

我们是最早研究碳保证对贸易信贷影响的研究者之一。通过对美国上市公司的抽样调查，我们发现高碳排放保证的公司从其供应商那里获得了更多的贸易信贷。我们的渠道分析测试表明，高碳排放保证通过降低风险和信息不对称转化为更高的贸易信贷。我们采用了其他模型规格、贸易信贷和碳保证度量、2SLS IV 分析、PSM 估计以及 Heckman 两阶段方法来解决可能存在的内生性问题，结果是稳健的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Does firm-level carbon assurance matter for trade credit?

We are among the first to examine the influence of carbon assurance on trade credit. Drawing on a sample of publicly listed U.S. firms, we document that firms with high carbon assurance obtain more trade credit from their suppliers. Our channel analysis tests show that high carbon assurance translates into higher trade credit by reducing risk and information asymmetry. Our results are robust with alternative model specifications, trade credit and carbon assurance measures, 2SLS IV analysis, PSM estimates, and Heckman-two stage approach to address possible endogeneity.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance

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