Empirical Study on the Impact of Environmental Information Disclosure on Green Finance
環境情報開示がグリーンファイナンスに与える影響に関する実証研究 (AI 翻訳)
Jing Li
🤖 gxceed AI 要約
日本語
本論文は、2008年から2023年の中国A株上場企業を対象に、環境情報開示がグリーンファイナンスの発展に与える影響を実証分析した。開示指標とグリーンファイナンス指標を構築し、環境規制の強化と情報非対称性の緩和が媒介効果を持つことを発見。非国有企業や西部地域で効果が顕著である。
English
This paper empirically examines the impact of environmental information disclosure on green finance development using Chinese A-share listed firms from 2008-2023. It constructs disclosure and green finance indices and finds that disclosure promotes green finance by enhancing environmental regulation and reducing information asymmetry, with heterogeneous effects stronger for non-state-owned and western 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
本論文は中国の環境情報開示とグリーンファイナンスの関係を実証しており、日本でもSSBJ等の開示基準整備が進む中、開示がグリーン資金調達に与える影響を示唆する。特に、非国有企業や地域による効果の違いは、日本企業の属性や地域特性に応じた政策を考える上で参考になる。
In the global GX context
This Chinese empirical study contributes to the global discourse on how environmental disclosure influences green finance. It supports the idea that disclosure regulation can boost green capital flows, with implications for ISSB implementation and transition finance policies in emerging markets.
👥 読者別の含意
🔬研究者:Provides robust empirical evidence on the disclosure-green finance nexus, including mediation and heterogeneity analysis.
🏢実務担当者:For corporate sustainability teams, the study underscores the value of environmental disclosure in accessing green finance, especially for non-state firms.
🏛政策担当者:Suggests that strengthening disclosure requirements and targeting financial policies to specific firm types and regions can enhance green finance.
📄 Abstract（原文）
High-quality disclosure is key to optimizing the information market, guiding the flow of green capital, and promoting the development of green finance. This paper uses A-share listed companies from 2008 to 2023 as the sample, constructs an environmental information disclosure scoring index based on corporate annual reports and social responsibility reports, and builds a green finance index by combining data from the China Energy Statistical Yearbook and other sources. It empirically examines the impact effect and mechanism of environmental information disclosure on the development of green finance. The research shows that environmental information disclosure has a significant positive effect on the development of green finance, and the conclusion remains robust after robustness tests. Mechanism tests indicate that environmental information disclosure promotes green finance development by enhancing environmental regulation intensity and alleviating information asymmetry, with corporate competition intensity playing a partial mediating role. Heterogeneity analysis reveals that the promotional effect of environmental information disclosure on green finance is significantly stronger for non-state-owned enterprises, private enterprises, and enterprises in the western region compared to state-owned enterprises, foreign-invested enterprises, and those in the central and eastern regions. This paper proposes suggestions from aspects such as improving disclosure systems, strengthening environmental regulations, reducing information asymmetry, and implementing differentiated financial policies. The research conclusions enrich the literature in related fields and provide references for policy formulation and implementation.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://journals.zeuspress.org/index.php/conference/article/download/626/551first seen 2026-07-18 08:21:52
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