Can Zhang , Jingyi Liu , Mohammad Zoynul Abedin , Brian Lucey
{"title":"驾驭可持续金融：考察可持续信贷政策对能源消耗强度的影响","authors":"Can Zhang , Jingyi Liu , Mohammad Zoynul Abedin , Brian Lucey","doi":"10.1016/j.ribaf.2024.102594","DOIUrl":null,"url":null,"abstract":"<div><div>By using microeconomic database, this paper aims to examine the impact of sustainable credit policy (SCP) on energy consumption intensity (ECI) with difference-in-differences (DID). According to the overall result, SCP significantly inhibits ECI of high-polluting industrial companies. Based on the result of mechanism analysis, SCP influences ECI through factor substitution and energy technology innovation. Furthermore, compared with factor substitution, energy technology innovation plays a more remarkable role in reducing ECI. As distinguished from the available literature, we discover that energy technology innovation has a greater impact on the decline of ECI only within enterprise samples in the mature stage of technology, while factor substitution is more obvious among the resource-intensive enterprises. Theoretical and empirical support for the effective formulation of policies is provided herein to accelerate energy transition and sustainable industrial growth.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"73 ","pages":"Article 102594"},"PeriodicalIF":6.3000,"publicationDate":"2024-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Navigating sustainable finance: Examining the impact of sustainable credit policy on energy consumption intensity\",\"authors\":\"Can Zhang , Jingyi Liu , Mohammad Zoynul Abedin , Brian Lucey\",\"doi\":\"10.1016/j.ribaf.2024.102594\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>By using microeconomic database, this paper aims to examine the impact of sustainable credit policy (SCP) on energy consumption intensity (ECI) with difference-in-differences (DID). According to the overall result, SCP significantly inhibits ECI of high-polluting industrial companies. Based on the result of mechanism analysis, SCP influences ECI through factor substitution and energy technology innovation. Furthermore, compared with factor substitution, energy technology innovation plays a more remarkable role in reducing ECI. As distinguished from the available literature, we discover that energy technology innovation has a greater impact on the decline of ECI only within enterprise samples in the mature stage of technology, while factor substitution is more obvious among the resource-intensive enterprises. Theoretical and empirical support for the effective formulation of policies is provided herein to accelerate energy transition and sustainable industrial growth.</div></div>\",\"PeriodicalId\":51430,\"journal\":{\"name\":\"Research in International Business and Finance\",\"volume\":\"73 \",\"pages\":\"Article 102594\"},\"PeriodicalIF\":6.3000,\"publicationDate\":\"2024-09-16\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Research in International Business and Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0275531924003878\",\"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":"Research in International Business and Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0275531924003878","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Navigating sustainable finance: Examining the impact of sustainable credit policy on energy consumption intensity
By using microeconomic database, this paper aims to examine the impact of sustainable credit policy (SCP) on energy consumption intensity (ECI) with difference-in-differences (DID). According to the overall result, SCP significantly inhibits ECI of high-polluting industrial companies. Based on the result of mechanism analysis, SCP influences ECI through factor substitution and energy technology innovation. Furthermore, compared with factor substitution, energy technology innovation plays a more remarkable role in reducing ECI. As distinguished from the available literature, we discover that energy technology innovation has a greater impact on the decline of ECI only within enterprise samples in the mature stage of technology, while factor substitution is more obvious among the resource-intensive enterprises. Theoretical and empirical support for the effective formulation of policies is provided herein to accelerate energy transition and sustainable industrial growth.
期刊介绍：
Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance
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