Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)

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Research on Enterprise Green Innovation and Debt Financing Costs

Authors
Jianjun Li1, *, Huafeng Chen1
1Jianghan University Business School, WuHan, China
*Corresponding author. Email: 1220710750@qq.com
Corresponding Author
Jianjun Li
Available Online 29 December 2022.
DOI
10.2991/978-94-6463-042-8_17How to use a DOI?
Keywords
enterprise green innovation; debt financing costs; accounting conservatism
Abstract

In order to encourage enterprises to strengthen green innovation and cope with increasingly prominent environmental problems, China government has introduced a series of green financial policies. But, how does green innovation affect debt financing costs in practice ? The purpose of this paper is to test the impact of green innovation on the cost of debt financing with the sample of Shanghai and Shenzhen A-share listed companies from 2010 to 2019. It is found that there is significantly negative correlation between the debt financing costs of listed companies and their green innovation, and green innovation significantly reduces the debt financing costs. The findings also include that the accounting conservatism strengthens the reduction effect of green innovation on debt financing costs, and the nature of property rights weakens the reduction effect of green innovation on debt financing costs.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)
Series
Advances in Computer Science Research
Publication Date
29 December 2022
ISBN
10.2991/978-94-6463-042-8_17
ISSN
2352-538X
DOI
10.2991/978-94-6463-042-8_17How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jianjun Li
AU  - Huafeng Chen
PY  - 2022
DA  - 2022/12/29
TI  - Research on Enterprise Green Innovation and Debt Financing Costs
BT  - Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)
PB  - Atlantis Press
SP  - 101
EP  - 106
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-042-8_17
DO  - 10.2991/978-94-6463-042-8_17
ID  - Li2022
ER  -