Ownership and environmental regulation: Evidence from the European electricity industry

Clò, Stefano; Ferraris, Matteo; Florio, Massimo

doi:10.1016/j.eneco.2016.12.001

Cited by 51 publications

(19 citation statements)

References 35 publications

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“…From the perspective of short-term economic stability, governments are more inclined to intervene in the decision-making processes of banks. Therefore, they are more willing to support LEMEs, which have better relationships with local governments, and can also avoid increases in the unemployment rate and regional economic instability in the short term [62]. In this case, the green credit policy cannot help SMEMEs obtain more loans, and hypothesis H2 is supported.…”

Section: Information Asymmetry Financial Development and Local Govementioning

confidence: 91%

Redistribution of China’s Green Credit Policy among Environment-Friendly Manufacturing Firms of Various Sizes: Do Banks Value Small and Medium-Sized Enterprises?

Zhang

Xing

Tripe

2020

IJERPH

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According to previous studies, China’s green credit policy, which was launched in 2012, increases environment-friendly manufacturing enterprises’ loan amounts. In this paper, we focus on a redistribution mechanism among environment-friendly manufacturing firms, namely, we determine whether the effects of the green credit policy differ between small and medium-sized environment-friendly manufacturing enterprises (SMEMEs) and large environment-friendly manufacturing enterprises (LEMEs). Using a difference in difference model (DID) and a difference in difference in difference model (DDD), we find that SMEMEs obtain more loans than LEMEs due to the green credit policy. We further analyze three potential foundations of this redistribution mechanism: information asymmetry, financial development, and government environmental investment. The results demonstrate that the redistribution effect occurs in both low and high information asymmetry conditions but only in regions with satisfactory financial development and with lower government environmental investment. Our findings enrich the literature on green credit, sustainable finance, and small finance, and they provide references for enterprises, banks, and governments.

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Section: Information Asymmetry Financial Development and Local Govementioning

confidence: 91%

Redistribution of China’s Green Credit Policy among Environment-Friendly Manufacturing Firms of Various Sizes: Do Banks Value Small and Medium-Sized Enterprises?

Zhang

Xing

Tripe

2020

IJERPH

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“…The other is regression analysis based on actual data. Some scholars found that the EU ETS was not fully effective in carbon emission reduction in power markets [ 30 ]. A series of recent studies confirmed that China’s pilot ETS substantially reduced carbon emissions in covered regions [ 17 , 31 , 32 ].…”

Section: Literature Reviewmentioning

confidence: 99%

Does Emission Trading Boost Carbon Productivity? Evidence from China’s Pilot Emission Trading Scheme

Zhou

Liang

Zhou

et al. 2020

IJERPH

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As the country with the largest carbon emissions globally, the effective operation of China’s carbon emissions trading scheme (ETS) is of great importance to the global community in terms of mitigating climate change. This paper considers China’s pilot ETS launched in 2013 as a quasi-natural experiment. Exploring provincial industrial-level data that are more in line with the ETS coverage, the difference-in-difference-in-difference (DDD) model is used to evaluate the impact of the ETS on carbon productivity. Considering different pilot regions and industries, we also analyze the heterogeneous effect of ETS. Moreover, the mediating effects of technical progress and capital investment are explored. We find that China’s pilot ETS boosted carbon productivity. Among pilot regions, the best policy effectiveness appeared in Beijing, while the weakest effectiveness appeared in Chongqing. Among the pilot industries, the pilot ETS had better effectiveness in petrochemical and electric power industries and weaker effectiveness in building materials and transportation industries. Additionally, the pilot ETS promoted carbon productivity through both technological progress and capital investment, and the former contributed more. Our findings can provide empirical references and policy implications for nationwide implementation of ETS to further promote low-carbon economic transformation.

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“…Government regulation (Govregulate). Many studies have proved that government regulation has an influence on firm environmental pollution [40,53,54]. This paper used the proportion of investment in industrial pollution control divided by GDP to measure the intensity of government regulation.…”

Section: Model and Variablesmentioning

confidence: 99%

Sustainability by High–Speed Rail: The Reduction Mechanisms of Transportation Infrastructure on Haze Pollution

Chen

Wang

2020

Sustainability

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Haze pollution impacts human health, as well as the competitive capabilities of firms and local economic development. Considerable attention has been given to the study of mechanisms for reducing haze pollution, but few studies have investigated the effect of city-to-city transportation infrastructures on environmental issues based on an institutional perspective. To address this research gap, this study advances our understanding by assessing the effect of city–to–city transportation on haze pollution caused by the operation of high-speed rail, which triggers the rapid flow of individuals and information, improves information transparency, as well as imposes institutional pressure on local governments and firms to reduce haze pollution. To further verify the underlying mechanisms, we tested the development of hard infrastructure (information communication technology) and soft infrastructure (market development level), which represent two conditions for which the mechanism is likely to be critical. We tested our hypotheses using a sample of 288 prefecture-level cities in China during the period from 2005 to 2016. The empirical results indicate that the operation of high-speed rail can reduce haze pollution by 17% on average.

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Ownership and environmental regulation: Evidence from the European electricity industry

Cited by 51 publications

References 35 publications

Redistribution of China’s Green Credit Policy among Environment-Friendly Manufacturing Firms of Various Sizes: Do Banks Value Small and Medium-Sized Enterprises?

Redistribution of China’s Green Credit Policy among Environment-Friendly Manufacturing Firms of Various Sizes: Do Banks Value Small and Medium-Sized Enterprises?

Does Emission Trading Boost Carbon Productivity? Evidence from China’s Pilot Emission Trading Scheme

Sustainability by High–Speed Rail: The Reduction Mechanisms of Transportation Infrastructure on Haze Pollution

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