Climate risk and trade credit financing: Evidence from China
Jinyu Chen,
Xinyu Guo,
Yuan Geng
et al.
Abstract:Using A‐share listed firms from 2009 to 2020 as a research sample, this study constructs firm‐level climate risk through textual analysis to examine whether and how corporate climate risk affect trade credit financing. The empirical results show that increased climate risk inhibits the level of trade credit financing of firms. The results are more prominent for those enterprises without government‐enterprise linkages and firms in cities with high levels of environmental regulation intensity and low levels of c… Show more
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