气候政策不确定性对绿色并购的影响
Ping Yang1, Ahmed Imran Hunjra2, David Roubaud3
1School of Economics and Management, Xinjiang University, Urumqi, 830047, China.
Journal of environmental management
|July 30, 2025
概括
气候政策的不确定性 (CPU) 刺激了绿色并购 (GM&A),因为企业应对监管压力和运营挑战. 这种不确定性推动了真正的绿色转型,而不仅仅是绿色化.
科学领域:
- 环境经济学环境经济学
- 企业的可持续性 企业的可持续发展
- 气候政策分析 气候政策分析
背景情况:
- 绿色并购 (GM&A) 对于企业与可持续发展和环境目标保持一致至关重要.
- 气候政策的不确定性 (CPU) 是影响企业环境战略的一个重要因素.
研究的目的:
- 研究气候政策不确定性 (CPU) 对绿色并购 (GM&A) 的影响.
- 探索CPU影响GM&A活动的机制.
- 评估CPU驱动的GM&A是否导致实质性的绿色转型或绿色洗.
主要方法:
- 利用了2007年至2021年间A股上市公司的数据.
- 采用计量经济学分析来检查CPU和GM&A之间的关系.
- 进行了进一步的分析,以区分真正的绿色转型和绿色洗.
主要成果:
- 发现气候政策的不确定性 (CPU) 催化了绿色并购 (GM&A).
- CPU对GM&A的影响在非国有企业,非能源部门和高科技部门更为明显.
- CPU增加了外部监管约束和内部运营挑战,推动企业向GM&A.
结论:
- 气候政策的不确定性 (CPU) 作为绿色并购 (GM&A) 的催化剂,促进真正的企业绿色转型.
- 这些发现挑战了"绿色洗"假设,表明了实质性的环境进步.
- 为决策者提供战略见解,通过气候政策鼓励企业可持续性.
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