Economics, Econometrics and Finance
4 years ago

Leverage negatively impacts green firms' investment in China's industries.

Finance research letters
The impact of capital leverage on green firms’ investment: New evidence regarding the size and age effects of Chinese green industries
Kai Chang, Jiehuan Ding, Qichun Lou, Ze‐Sheng Li, Jiahui Yang

Paper Summary

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The article looks at how different types of debt affect investment in green companies in China. They studied 412 green firms and found that having more debt based on the value of assets can reduce investment, while debt based on market value and maturity can increase investment. Larger and older companies are less affected by debt when it comes to investing in green projects.