融资来源,绿色投资和环境绩效:跨国证据
Imen Bouchmel1, Zied Ftiti2, Waël Louhich3
1University of Tunis, High Institute of Management, ISG-T, GEF2A Lab Tunis, Tunisia.
Journal of environmental management
|February 6, 2024
概括
内部融资促进了东欧中小企业的绿色投资,而债务和金融障碍阻碍了这一点. 政策支持对于可持续的企业增长至关重要.
科学领域:
- 环境经济学环境经济学
- 企业金融公司财务
- 可持续的商业实践 可持续的商业实践
背景情况:
- 东欧的中小企业在采用绿色投资方面面临着挑战.
- 了解融资来源和财务限制的作用对于促进中小企业对环境负责至关重要.
- 现有的研究往往忽视了东欧中小企业在绿色融资方面的具体背景.
研究的目的:
- 调查融资来源对东欧中小企业绿色投资决策的影响.
- 分析财务限制对绿色投资和环境绩效的采用影响.
- 为该地区的中小企业提供政策建议,以提高绿色融资的可获得性.
主要方法:
- 利用主要组件分析 (PCA) 来构建一个绿色投资代理.
- 用于分析的两阶段最小平方 (2SLS) 回归和仪器试验 (IV试验) 模型.
- 从2018年至2020年期间的东欧中小企业样本中收集的数据.
主要成果:
- 内部融资对绿色投资产生了积极的影响.
- 杆和财务约束与绿色投资和环境绩效有负相关性.
- 东欧的中小企业面临着严重的财务约束,这限制了他们对绿色投资的能力.
结论:
- 促进获得债务融资的机会对于中小企业来说至关重要,以克服绿色投资的金融障碍.
- 实施有针对性的绿色金融激励措施可以鼓励中小企业采取环保责任的做法.
- 解决财务限制对于中小企业来说至关重要,以减少他们的环境足迹,特别是在波动的经济时期.
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