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The impact of the level of green finance development on corporate debt financing capacity

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  • He, Yu
  • Liu, Ruizhi

Abstract

The study examines the impact of the level of green finance development on the debt financing capacity of heavy polluters and green enterprises in China. Using the entropy value method to calculate the level of green finance development at the region level from 2007 to 2020, we find that the increase in the level of green financial development helps to enhance the debt financing ability of green enterprises, while suppressing the debt financing ability of heavy polluting enterprises, and promotes the transformation of heavy polluting enterprises from the perspective of enterprise debt financing.

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  • He, Yu & Liu, Ruizhi, 2023. "The impact of the level of green finance development on corporate debt financing capacity," Finance Research Letters, Elsevier, vol. 52(C).
    • Handle: RePEc:eee:finlet:v:52:y:2023:i:c:s1544612322007280
    DOI: 10.1016/j.frl.2022.103552
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    Cited by:

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    25. Piao, Xiaorui & Mei, Bin, 2025. "On the corporate performance of issuers of various green assets," Finance Research Letters, Elsevier, vol. 78(C).

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