Abstract
This study employs a difference-in-differences (DID) methodology to investigate the impact of restrictive green financial policy (GFP) on the enterprise value of Chinese A-share listed companies between 2018 and 2023. The findings indicate that the restrictive GFP introduced in 2022 significantly enhances the enterprise value of companies with low ESG ratings. Furthermore, ESG performance mediates the relationship between restrictive GFP and enterprise value. This study contributes to the literature on the interplay between GFP and ESG by providing novel insights into the influence of restrictive GFP on enterprise value.
| Original language | English |
|---|---|
| Pages (from-to) | 1-5 |
| Number of pages | 5 |
| Journal | Applied Economics Letters |
| DOIs | |
| Publication status | E-pub ahead of print - 26 May 2025 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
User-Defined Keywords
- ESG
- ESG performance
- Green financial policy
- enterprise value
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