The Non-Linear Effect of Financial Support on Energy Efficiency: Evidence from China

Chen, Shuanglian; Liao, Gaoke; Drakeford, Ben; Failler, Pierre

doi:10.3390/su11071959

Cited by 14 publications

(8 citation statements)

References 43 publications

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“…Therefore, this study sheds light on the view that the targeted poverty alleviation efforts of firms can reduce their cost of equity capital in the presence of private property nature. In addition, the differences between regions are similar to those described in a previous study [57]. Due to the uneven development and information environment, the relationship between poverty alleviation participation and the cost of equity capital is not significant in the west region.…”

Section: Discussionsupporting

confidence: 80%

“…Accordingly, the process by which information is conveyed and interpreted by investors may vary in different regions. We divide the whole sample into three groups, that is, the eastern, central and western regions [57], respectively, to test the impact of enterprises' poverty alleviation engagement on the cost of equity capital in these three regions, and the results are shown in column 2 of Table 7.…”

Section: The Impact Of Property Nature Region and Mandatory Disclosurementioning

confidence: 99%

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Does CSR affect the cost of equity capital: Empirical evidence from the targeted poverty alleviation of listed companies in China

Xie

Zhou

et al. 2020

PLoS ONE

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Social responsibility fulfillment helps modern enterprises achieve sustainable development. Based on empirical data on China's A-share listed companies in 2013-2016, this paper examines the impact of corporate social responsibility performance on a company's financing costs from the perspective of targeted poverty alleviation. Specifically, we find that enterprises' engagement in poverty alleviation social responsibility helps to reduce the cost of equity capital. The result is robust to using alternative indicators of the cost of equity capital, propensity score matching method, change model and sample removed financial sector. Furthermore, we find that the negative relationship between enterprises' engagement in poverty relief and the cost of equity capital is mainly concentrated in private enterprises and in the central and eastern regions of China. Moreover, the negative relationship mainly exists after China's listed companies were forced to disclose information on poverty alleviation. This paper also finds that institutional investors' shareholding plays a partial mediating role in this reduction effect and that enterprises' poverty alleviation efforts help companies improve their financial performance and firm value. This study enriches the relevant literature on corporate social responsibility and the cost of equity capital and has reference value for corporate sustainable development. It also provides a theoretical basis for corporate poverty alleviation work in developing countries and the economic results of CSR. OPEN ACCESS Citation: Yi Y, Xie B, Zhou L, Wei Y (2020) Does CSR affect the cost of equity capital: Empirical evidence from the targeted poverty alleviation of listed companies in China. PLoS ONE 15(2): e0227952. https://doi.org/10.

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Section: Discussionsupporting

confidence: 80%

Section: The Impact Of Property Nature Region and Mandatory Disclosurementioning

confidence: 99%

Does CSR affect the cost of equity capital: Empirical evidence from the targeted poverty alleviation of listed companies in China

Xie

Zhou

et al. 2020

PLoS ONE

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“…Analysis of the contribution of authors (Fig. 5) showed that the leading positions belong to scientists from Taiwan [50,51] in third place are scientists from Australia.…”

Section: Fig 5 Contribution Of Individual Scientists In the Field Of Green Competitiveness Research Source: Composed By The Authors Basedmentioning

confidence: 99%

Green competitiveness: the evolution of concept formation

et al. 2021

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The modern tendencies confirmed the necessity to consider the environmental factors in companies' effectiveness. The goal of the article is to investigate the structural and functional environment of the development of the green competitiveness concept. In the paper were used the methods of bibliometric analysis for determining vectors of green competitiveness concept development. The hypothesis of the study is the growing tendency of analysing sustainable competitiveness by scientists. In this order, a bibliometric analysis of the spread of the concept of «green competitiveness» in scientific articles indexed by the Scopus database was performed. The authors reviewed about 30000 papers from Scopus base in the period from 1996 till 2019. The Scopus screening tools showed that in 2004 the number of articles that focused on green competitiveness began to increase. On the international level, the investigated area was represented by the next countries: the United States, China, India, Great Britain, Taiwan. Using the VOS viewer program were identified the main clusters of the scientific papers, which have investigated green competitiveness with the interconnection of such categories: green marketing, green innovation and sustainable development. The findings could be used for improving the basis for the creation of the strategies for green competitiveness promotion.

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“…Nonlinear effects are widespread in the recent study [38][39][40][41]. e PSTR model can accurately describe the transition between the linear and nonlinear models in the process of energy intensity by selecting different transition variables or transfer functions [42,43]. e PSTR model may be considered as a linear heterogeneous panel model, which allows regression coefficients to vary across individuals and over time.…”

Section: Panel Smooth Transition Regression Modelmentioning

confidence: 99%

Does Foreign Direct Investment Impact Energy Intensity? Evidence from Developing Countries

Cao

Chen

Huang

2020

Mathematical Problems in Engineering

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The paper presents the results of a study that attempts to investigate the impact of foreign direct investment (FDI) on energy intensity by constructing panel regression model and panel smooth transition regression (PSTR) model. Based on panel data from 1990 to 2014, this study contributes to conduct the impact of FDI on energy intensity from the perspective of emerging country, including BRICS and non-BRICS countries, and investigates the channels of influence of FDI on energy intensity. Besides that, we intend to employ the PSTR model to reveal the nonlinear mechanism of FDI on energy intensity. Our findings reveal several key conclusions: first, FDI exerts insignificant impact on energy intensity in the emerging countries. Second, the impact of FDI on energy intensity is heterogeneous between BRICS and non-BRICS countries. Third, innovation capacity plays various moderating effects on the relationship of FDI and energy intensity among different types of emerging countries. Furthermore, the nonlinear mechanism of FDI on energy intensity is realized with industrial structure as the transition variable, which plays a different effect on the impact of FDI on energy intensity between different samples.

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The Non-Linear Effect of Financial Support on Energy Efficiency: Evidence from China

Cited by 14 publications

References 43 publications

Does CSR affect the cost of equity capital: Empirical evidence from the targeted poverty alleviation of listed companies in China

Does CSR affect the cost of equity capital: Empirical evidence from the targeted poverty alleviation of listed companies in China

Green competitiveness: the evolution of concept formation

Does Foreign Direct Investment Impact Energy Intensity? Evidence from Developing Countries

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