Effects of industrial air pollution on the technical efficiency of agricultural production: Evidence from China

Wang, Zanxin; Wei, Wei; Zheng, Fangyuan

doi:10.1016/j.eiar.2020.106407

Cited by 34 publications

(21 citation statements)

References 19 publications

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“…Each of the three carbon-related risks (physical, regulatory, and business) presents a threat to business entities, increasing their financial uncertainty and credit risk. Tan, Zhang, et al (2021) and Wang, Wei, et al (2020) conclude that carbon-related credit risk occurred when firms located in highpollution areas, due to the increased uncertainty of their future expected cash flows and ability to repay debt, suffer from higher credit risk and financing challenges when dealing with banks and supply chain partners. Fang et al (2019) study China's environmental information disclosure policy and find that it leads to corporate financing constraints.…”

Section: Air Pollution and Credit Riskmentioning

confidence: 99%

The impact of air pollution on the cost of debt financing: Evidence from the bond market

Tan

Chan

2021

Bus Strat Env

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This study investigates whether bond markets reflect firms' exposure to air pollution through an increased cost of debt financing; and, if so, whether firms can mitigate this air pollution penalty via effective governance and active monitoring. Using 1067 bonds issued by Chinese firms, we document a positive association between air pollution and the cost of debt financing, and this association is robust and economically meaningful. Specifically, with a one standard deviation increase in air pollution severity, a firm's bond yield spread increases approximately 16% relative to an average bond. Additional analysis suggests that credit risk and financial uncertainty are the transmission channels. Our results also confirm that strengthened corporate governance, active board and external monitoring, and a stabilized economic environment further enhance the impact of air pollution on a firm's cost of debt. Overall, air pollution has a material change in a firm's business strategy in using debt.

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Section: Air Pollution and Credit Riskmentioning

confidence: 99%

The impact of air pollution on the cost of debt financing: Evidence from the bond market

Tan

Chan

2021

Bus Strat Env

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“…Similar evidence was also provided by NASA [61] and ESA [44], which showed a strong decline in SO 2 emissions, especially over South Asia and East Asia. Recent declines in air pollution across all global regions are associated with less consumption of fossil fuels [22,96], which ultimately reduced the level of pollutants in the atmosphere during the lockdown period [51,53,97].…”

Section: Satellite Observationmentioning

confidence: 99%

“…In the list of the world's most polluted cities, most of the top 30 most polluted cities are located in Asia, especially in India, Pakistan, and China [16][17][18][19][20][21]. One of many causes leading up to outdoor air pollution is that the developing countries around the world do not adopt the standard operating protocols to run industrial units [22]. Another cause is the use of low-quality fuel in transport vehicles, which consequently releases various air pollutants to the atmosphere [23][24][25][26].…”

Section: Introductionmentioning

confidence: 99%

Unprecedented Temporary Reduction in Global Air Pollution Associated with COVID-19 Forced Confinement: A Continental and City Scale Analysis

et al. 2020

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Shortly after the outbreak of the novel infectious disease (COVID-19) started at the end of 2019, it turned into a global pandemic, which caused the lockdown of many countries across the world. Various strict measures were adopted to reduce anthropogenic activities in order to prevent further spread and infection of the disease. In this study, we utilized continental scale remotely sensed data along with city scale in situ air quality observations for 2020 as well as data from the baseline period (2015–2019) to provide an early insight on air pollution changes in response to the COVID-19 pandemic lockdown, by combining both continental and city scales. For the continental scale analysis, data of NO2, SO2, and O3 were acquired from the ozone monitoring instrument (OMI) and data of aerosol optical depth (AOD) were collected from the moderate resolution imaging spectroradiometer (MODIS). For city scale analysis, data of NO2, CO, PM2.5, O3, and SO2 were derived from ground-based air quality observations. Results from satellite observations at the continental scale showed that concentrations of NO2, SO2, and AOD substantially dropped in 2020 during the lockdown period compared to their averages for the baseline period over all continents, with a maximum reduction of ~33% for NO2 in East Asia, ~41% for SO2 in East Asia, and ~37% for AOD in South Asia. In the case of O3, the maximum overall reduction was observed as ~11% in Europe, followed by ~10% in North America, while a slight increase was found in other study regions. These findings align with ground-based air quality observations, which showed that pollutants such as NO2, CO, PM2.5, and SO2 during the 2020 lockdown period decreased significantly except that O3 had varying patterns in different cities. Specifically, a maximum reduction of ~49% in NO2 was found in London, ~43% in CO in Wuhan, ~38% in PM2.5 in Chennai, and ~48% in SO2 in Beijing. In the case of urban O3, a maximum reduction of ~43% was found in Wuhan, but a significant increase of ~47% was observed in Chennai. It is obvious that restricted human activities during the lockdown have reduced the anthropogenic emissions and subsequently improved air quality, especially across the metropolitan cities.

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“…It can be done by cooperation between companies, public authorities, and the community (40). Ambient air pollution can be controlled by conducting more stringent supervision of energy structures and industrial structures (53)(54). However, it has a possibility not successful and is exacerbated by unfavorable meteorological conditions (54).…”

Section: Discussionmentioning

confidence: 99%

The Impact of Ambient Air Pollution Toward Coronavirus Disease 2019 (Covid19): A Literature Review

Nasikhah

Pawitra

2020

JKL

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Introduction: WHO has announced coronavirus Disease 2019 (Covid19) as a global pandemic at the immune decline, one of which is due to chronic exposure to ambient air pollution. This literature review aims to describe the impact of ambient air pollution toward the risk of being infected by Covid19. Discussion: Covid19 can be found in a bat (host primer), and can be contagious through a person, also possible from pets. The symptoms that sufferers will perceive are fever, cough, diarrhea, myalgia, fatigue, headache, nausea, vomit, abdominal pain, loss of appetite, and some asymptomatic people. The body’s immunity affects a person’s susceptibility to Covid19 infection. The body’s immunity can be affected by ambient air pollution (with PM10, PM2,5, and O3 are the most pollutant in the air in various countries) for an extended period could be the reason for chronic illness (especially, respiratory tract) could reduce immune resistance. Furthermore, it might be happened on increasing at ACE2 activity and can cause increasing infected by Covid19. Prevention action can be done by contributing from all of the sectors at an observance in guarding, physical distancing, quarantine, and maintaining the ambient air quality in the future. Conclusion: Ambient air pollution must be considered as one effort to prevent chronic illness that can reduce immunity, which can increase the risk of being infected with Covid19. Furthermore, future studies will be carried out on ACE2 activity in people infected with Covid19 in order to get more valid results and following current conditions.

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Effects of industrial air pollution on the technical efficiency of agricultural production: Evidence from China

Cited by 34 publications

References 19 publications

The impact of air pollution on the cost of debt financing: Evidence from the bond market

The impact of air pollution on the cost of debt financing: Evidence from the bond market

Unprecedented Temporary Reduction in Global Air Pollution Associated with COVID-19 Forced Confinement: A Continental and City Scale Analysis

The Impact of Ambient Air Pollution Toward Coronavirus Disease 2019 (Covid19): A Literature Review

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