Corporate environmental investment and supply chain financing: The moderating role of environmental innovation

Zhu, Xuemei; Liu, Ran; Chen, Jinyu

doi:10.1002/bse.3205

Cited by 10 publications

(6 citation statements)

References 98 publications

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“…Therefore, the effect of labor market distortion on the channel variables will be the focus. Referring to Mauro (1995), Zhu et al (2022), and Zhang, Ren, et al (2022), the channel variables are taken as dependent variables, and the FE, SYS‐GMM, and 2SLS methods are applied to identify the transmission channels and solve potential endogeneity. The estimated results are presented in Table 6.…”

Section: Resultsmentioning

confidence: 99%

Toward inclusive green growth for sustainable development: A new perspective of labor market distortion

Zhang

Lyu

2023

Bus Strat Env

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Labor market distortion is ceaselessly endangering the balance among economic efficiency, social equity, and environmental quality sought by inclusive green growth and sustainable development. This study develops an innovative evaluation system to measure China's inclusive green growth by using provincial panel data from 2004 to 2020. Three dimensions are covered, including economic development, social equity and welfare, and green sustainability. Static and dynamic panel econometric models are employed to investigate the effect of labor market distortion on inclusive green growth and the potential transmission channels. The spatial econometric model is further applied to study the spatial spillover effect of labor market distortion on inclusive green growth. The results indicate that labor market distortion negatively affects inclusive green growth. Technological innovation, industrial structure optimization, and export trade upgrading are transmission channels of the impact of labor market distortion on inclusive green growth. In addition to hindering local inclusive green growth, labor market distortion also decreases neighboring inclusive green growth through the spatial spillover effect. These conclusions suggest that removing distortion in the labor market and emphasizing the role of market mechanisms in labor allocation may provide a new perspective to help move toward inclusive green growth for sustainable development.

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Section: Resultsmentioning

confidence: 99%

Toward inclusive green growth for sustainable development: A new perspective of labor market distortion

Zhang

Lyu

2023

Bus Strat Env

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“…The two subsamples are delineated above or below the median value of the audit fees, and the existence of litigation, a risk committee and employment of a Big4 audit firm. The incorporation of moderating variables in our models based on high (above the median) and low (below the median) values of those variables provides us with an indication of what sort of conditions (e.g., high litigation risk environment) are important in sustaining significance between CCDP and financial distress (Chaihanchanchai & Anantachart, 2022; Li & Ramanathan, 2020; Zhu et al, 2022).…”

Section: Methodology and Research Designmentioning

confidence: 99%

Climate change performance and financial distress

et al. 2022

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Given the crucial role that environmental accounting plays in sustainable development, this study investigates the relationship between climate change disclosure performance (CCDP) and financial distress as well as the moderating impact of litigation, the existence of a risk committee, the employment of Big4 auditing firms and the level of audit fees. Utilising a sample of the top 300 Australian Securities Exchange (ASX)‐listed non‐financial firms over the period 2008–2019 and ordinary least squares (OLS) regression analysis with fixed effects, it is found that higher levels of CCDP are related to lower levels of financial distress. Additionally, the significant association between CCDP and financial distress is manifested in firms with low litigation risk, firms with a risk committee, firms that employ Big4 auditing firms and firms that incur a higher level of audit fees. Additional tests that mitigate self‐selection and endogeneity, such as propensity score matching (PSM) and the system generalised method of moments (GMM), show that our findings are robust. Finally, our findings shed light on managers' strategic behaviour in relation to the consideration of, and transparency around, climate change risks.

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“…Similarly, a firm with substantial customer advances means customer financing (Deng et al, 2018). Thus, following previous studies (Petersen and Rajan, 1997;Zhu et al, 2023), we measured SCF by the ratio of the sum of accounts payable and customer advances to total assets. 4.2.2 Independent variable: supply chain transparency.…”

Section: Sampling and Datamentioning

confidence: 99%

“…Prior research indicates that larger firms have easier access to BL (Petersen and Rajan, 1997) and use less SCF (Jhang et al, 2021). Additionally, we factored in fixed assets (Fixasset) and sales growth (Growth), because firms with more fixed assets and higher sales growth can also find it easier to obtain reasonably priced BL, and thus, less SCF is needed (Dass et al, 2015;Zhu et al, 2023). Fixasset was calculated as the proportion of fixed assets in total assets.…”

Section: Control Variablesmentioning

confidence: 99%

The impact of supply chain transparency on financing offerings to firms: the moderating role of supply chain concentration

Shi,

Yin,

Yuan

et al. 2024

IJOPM

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PurposeBased on signaling theory, this paper aims to explore the impact of supply chain transparency (SCT) on firms' bank loan (BL) and supply chain financing (SCF) in the context of voluntary disclosure of supplier and customer lists.Design/methodology/approachBased on panel data collected from Chinese-listed firms between 2012 and 2021, fixed-effect models and a series of robustness checks are used to test the predictions.FindingsFirst, improving SCT by disclosing major suppliers and customers promotes BL but inhibits SCF. Specifically, customer transparency (CT) is more influential in SCF than supplier transparency (ST). Second, supplier concentration (SC) weakens SCT’s positive impact on BL while reducing its negative impact on SCF. Third, customer concentration (CC) strengthens the positive impact of SCT on BL but intensifies its negative impact on SCF. Last, these findings are basically more pronounced in highly competitive industries.Originality/valueThis study contributes to the SCT literature by investigating the under-explored practice of supply chain list disclosure and revealing its dual impact on firms' access to financing offerings (i.e. BL and SCF) based on signaling theory. Additionally, it expands the understanding of the boundary conditions affecting the relationship between SCT and firm financing, focusing on supply chain concentration. Moreover, it advances signaling theory by exploring how financing providers interpret the SCT signal and enriches the understanding of BL and SCF antecedents from a supply chain perspective.

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Corporate environmental investment and supply chain financing: The moderating role of environmental innovation

Cited by 10 publications

References 98 publications

Toward inclusive green growth for sustainable development: A new perspective of labor market distortion

Toward inclusive green growth for sustainable development: A new perspective of labor market distortion

Climate change performance and financial distress

The impact of supply chain transparency on financing offerings to firms: the moderating role of supply chain concentration

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