ベンチャーキャピタルが企業の炭素パフォーマンスに与える影響に関する研究
Study on the Impact of Venture Capital on Corporate Carbon Performance (原題)
K. Zhou, Y. H. Cao, H. Yang
🤖 gxceed AI 要約
日本語
本研究は、2010年から2023年の上海・深センA株上場企業データを用い、ベンチャーキャピタル(VC)が企業の炭素パフォーマンスに与える影響を二方向固定効果モデルで分析。VCは資金調達制約の緩和と技術革新の促進を通じて炭素パフォーマンスを向上させ、その効果は経営者能力や金融規制の強度によって異なる。非国有企業、東部地域、高汚染企業で効果が顕著。
English
Using data from Shanghai and Shenzhen A-share listed companies (2010-2023), this study employs a two-way fixed-effects model to analyze the impact of venture capital (VC) on corporate carbon performance. VC improves carbon performance by alleviating financing constraints and promoting technological innovation, with effects varying by managerial ability and financial regulation intensity. The effect is stronger in non-state-owned, eastern, and heavily polluting firms.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本では、GXリーグやSSBJ開示が進む中、VC等の民間資本を脱炭素技術へ誘導する政策が重要。本研究成果は、日本のスタートアップ支援やGX投資促進策に示唆を与える。
In the global GX context
This study provides empirical evidence on how venture capital can drive corporate carbon performance, relevant to global discussions on transition finance and the role of private capital in decarbonization. It offers insights for policymakers and investors seeking to align financial flows with climate goals.
👥 読者別の含意
🔬研究者:VCと炭素パフォーマンスの因果関係を実証した点が参考になる。
🏢実務担当者:VC調達が炭素パフォーマンス向上に寄与する可能性を示唆。
🏛政策担当者:民間資本を低炭素技術へ誘導する政策設計に示唆。
📄 Abstract（原文）
As global attention to climate change intensifies, venture capital has become an important driver of corporate carbon performance, including in strategic manufacturing sectors related to electromagnetic materials, antennas, electronic textiles, and low-carbon equipment production. Based on data from Shanghai and Shenzhen A-share listed companies from 2010 to 2023, this study employs a two-way fixed-effects model to analyze the influence of venture capital on corporate carbon performance. The results show that venture capital improves corporate carbon performance by alleviating financing constraints and promoting technological innovation. The impact varies with managerial ability and the intensity of financial regulation. Heterogeneity tests indicate that the effect of venture capital is more pronounced in non-state-owned enterprises, firms located in eastern regions, and heavily polluting corporations. These findings deepen the understanding of the internal logical relationship between venture capital and corporate carbon performance. They also provide practical implications for guiding private capital toward low-carbon technological innovation in advanced manufacturing fields, including electromagnetic-device manufacturing and antenna-related industrial chains, where capital support is needed for cleaner production, energy-efficient processes, and green technology upgrading.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.7716/aem.v15i3.3427first seen 2026-08-22 05:02:15
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