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| DOI | 10.1080/00036846.2024.2329111 |
| How does carbon pressure affect corporate risk-taking? Evidence from Chinese energy firms | |
| 发表日期 | 2024 |
| ISSN | 0003-6846 |
| EISSN | 1466-4283 |
| 英文摘要 | Different regions face heterogeneous carbon pressure, but the nexus of carbon pressure and corporate risk behaviour is less explored. Based on annual data from Chinese A-share listed energy firms over the time period 2008-2019, this study shows that carbon pressure can significantly promote the risk-taking of energy firms. Furthermore, government subsidies and tax burdens are essential factors in adjusting the effects of carbon pressure on energy firms' risk-taking. We find that energy firms with high government subsidies and low tax burdens have a higher risk preference when faced with carbon pressure. In addition, the positive relationship between carbon pressure and risk-taking is stronger and more significant for energy firms from the eastern region and for those that are from non-high- and new-technology industries and non-new energy industries. The above findings provide a theoretical basis and practical reference for governments to adopt effective policies to promote energy firms' sustainable development and for energy firms to devise smarter investment strategies when facing carbon pressure. Our research offers new insights into how carbon pressure influences energy firm behaviour at the micro-level in the context of climate change. |
| 英文关键词 | Climate change; carbon pressure; risk-taking; energy firms; China; G30; G38 |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics |
| WOS类目 | Economics |
| WOS记录号 | WOS:001184274700001 |
| 来源期刊 | APPLIED ECONOMICS
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/287656 |
| 作者单位 | Xi'an Jiaotong University; Tianjin University of Finance & Economics |
| 推荐引用方式 GB/T 7714 | . How does carbon pressure affect corporate risk-taking? Evidence from Chinese energy firms[J],2024. |
| APA | (2024).How does carbon pressure affect corporate risk-taking? Evidence from Chinese energy firms.APPLIED ECONOMICS. |
| MLA | "How does carbon pressure affect corporate risk-taking? Evidence from Chinese energy firms".APPLIED ECONOMICS (2024). |
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