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Green bond and corporate environmental investment: The moderating effect of environmental concern

Author

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  • Wang, Feng
  • Liu, Jianfang

Abstract

As global awareness of climate change and environmental protection deepens, the green bond market has experienced rapid growth. This study utilizes data from heavily polluting companies listed on China's A-share market from 2010 to 2022 to examine the relationship between green bond, environmental concern, and corporate environmental investment. Empirical findings reveal: (1) There is a positive correlation between green bond and corporate environmental investments; (2) Environmental concern acts as a moderator between green bond and corporate environmental investments. (3) Heterogeneity analysis indicates that the promotive effect of green bond on environmental investments is more pronounced in state-owned enterprises and companies located in the eastern region.

Suggested Citation

  • Wang, Feng & Liu, Jianfang, 2024. "Green bond and corporate environmental investment: The moderating effect of environmental concern," Finance Research Letters, Elsevier, vol. 65(C).
    • Handle: RePEc:eee:finlet:v:65:y:2024:i:c:s1544612324006378
    DOI: 10.1016/j.frl.2024.105607
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