气候变化领域集成服务门户(CCPortal): Government green environmental concerns and corporate real investment decisions: Does financial sector development matter?

CCPortal

DOI	10.1016/j.enpol.2021.112585
	Government green environmental concerns and corporate real investment decisions: Does financial sector development matter?
	Wen J.; Farooq U.; Tabash M.I.; El Refae G.A.; Ahmed J.; Subhani B.H.
发表日期	2021
ISSN	0301-4215
卷号	158
英文摘要	The government intervention directly achieves the strategic variation of industrial sector. Following this, the current study analyzes the impact of government concerns for green environment on investment decisions of industrial sector and how this effect changes across the countries that have developed financial sector. The sample size consists of financial statistics for the year 2007–2016 of non-financial sector firms from 11 selected economies of Asia. We employ panel EGLS (estimated generalized least square) and two-step system GMM (generalized method of moments) model due to problem of heteroskedasticity and endogeneity relatively. The statistical outputs of both models imply that carbon taxation has a negative impact while other green environmental strategies i.e., renewable energy utilization, production of electricity from renewable energy sources, and green growth productivity positively and significantly influence real investment decisions. Additionally, the statistical analysis illustrates the moderating impact of financial sector development on aforementioned relationship. The current analysis corroborates the thoughts of Porter's hypothesis and direct the important policy recommendations regarding environmental policies and their dynamical role in industrial sector investment decisions. Industrial sector should transform its energy needs from conventional energy production sources to renewable energy production due to positive impacts of renewable sources on investment. © 2021 Elsevier Ltd
英文关键词	Asian economies; Corporate real investment; Financial sector development; Government green environment concerns
语种	英语
scopus关键词	Economics; Energy policy; Energy utilization; Environmental protection; Least squares approximations; Method of moments; Natural resources; Renewable energy resources; Taxation; Asian economy; Corporate real investment; Corporates; Financial sector development; Financial sectors; Government green environment concern; Green environments; Industrial sector; Investment decisions; Real investments; Investments; alternative energy; corporate strategy; decision making; energy market; energy policy; financial market; investment; Asia
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256538
作者单位	School of Economics and Finance, Xi'an Jiaotong University, Xi'an, Shaanxi, China; College of Business, Al Ain University, Al Ain, United Arab Emirates; Department of Accounting and Finance, Capital University of Science and Technology (CUST), Islamabad, Pakistan
推荐引用方式 GB/T 7714	Wen J.,Farooq U.,Tabash M.I.,et al. Government green environmental concerns and corporate real investment decisions: Does financial sector development matter?[J],2021,158.
APA	Wen J.,Farooq U.,Tabash M.I.,El Refae G.A.,Ahmed J.,&Subhani B.H..(2021).Government green environmental concerns and corporate real investment decisions: Does financial sector development matter?.Energy Policy,158.
MLA	Wen J.,et al."Government green environmental concerns and corporate real investment decisions: Does financial sector development matter?".Energy Policy 158(2021).