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Development of the green finance market, carbon emission trading, and corporate environmental responsibility

Author

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  • Wang, Kang
  • Xu, Yixiang

Abstract

Using data from Chinese publicly traded companies’ 2008–2022, this study investigates the connection between green finance (GF) market growth and corporate environmental responsibility (CER). Findings and mechanism analysis demonstrate that the expansion of the GF market notably improves CER by encouraging green investments (GIs), thus causing heterogeneity between high-pollution and low-pollution companies. The study also suggests that the introduction of carbon emissions trading policies can positively influence the expansion and development of the GF market on CER.

Suggested Citation

  • Wang, Kang & Xu, Yixiang, 2025. "Development of the green finance market, carbon emission trading, and corporate environmental responsibility," Finance Research Letters, Elsevier, vol. 79(C).
    • Handle: RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005409
    DOI: 10.1016/j.frl.2025.107277
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