The relationship between air pollution and company risk-taking: The moderating role of digital finance
Air pollution, an influencing factor for decision-making behavior, is closely related to company risk-taking, which affects high-quality economic development. Based on a fixed effect model, using the panel data of non-financial listed companies from China’s A-share markets from 2011 to 2019, this st...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2022-08-01
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| Series: | Frontiers in Environmental Science |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fenvs.2022.988450/full |
| _version_ | 1811215042734981120 |
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| author | Xiuping Li Ye Yang |
| author_facet | Xiuping Li Ye Yang |
| author_sort | Xiuping Li |
| collection | DOAJ |
| description | Air pollution, an influencing factor for decision-making behavior, is closely related to company risk-taking, which affects high-quality economic development. Based on a fixed effect model, using the panel data of non-financial listed companies from China’s A-share markets from 2011 to 2019, this study empirically analyzes the influence of air pollution on company risk-taking and the moderating role of digital finance. The benchmark regression results reveal that air pollution has a significantly negative impact on company risk-taking. Mechanism analysis reveals that digital finance that is not “green development-oriented” can strengthen such relationship. The results of the heterogeneity analysis demonstrate that the negative impact of air pollution on risk-taking is more significant within private companies and those located in the eastern and central regions. Digital finance impacts companies with strict financing constraints more significantly. This study provides a reference for reducing the negative impact of air pollution on high-quality economic development. |
| first_indexed | 2024-04-12T06:15:47Z |
| format | Article |
| id | doaj.art-31fd4bb0523044e5b5e206e68f95a32f |
| institution | Directory Open Access Journal |
| issn | 2296-665X |
| language | English |
| last_indexed | 2024-04-12T06:15:47Z |
| publishDate | 2022-08-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Environmental Science |
| spelling | doaj.art-31fd4bb0523044e5b5e206e68f95a32f2022-12-22T03:44:30ZengFrontiers Media S.A.Frontiers in Environmental Science2296-665X2022-08-011010.3389/fenvs.2022.988450988450The relationship between air pollution and company risk-taking: The moderating role of digital financeXiuping Li0Ye Yang1School of Economics, Shandong Normal University, Jinan, ChinaSchool of Management Engineering, Shandong Jianzhu University, Jinan, ChinaAir pollution, an influencing factor for decision-making behavior, is closely related to company risk-taking, which affects high-quality economic development. Based on a fixed effect model, using the panel data of non-financial listed companies from China’s A-share markets from 2011 to 2019, this study empirically analyzes the influence of air pollution on company risk-taking and the moderating role of digital finance. The benchmark regression results reveal that air pollution has a significantly negative impact on company risk-taking. Mechanism analysis reveals that digital finance that is not “green development-oriented” can strengthen such relationship. The results of the heterogeneity analysis demonstrate that the negative impact of air pollution on risk-taking is more significant within private companies and those located in the eastern and central regions. Digital finance impacts companies with strict financing constraints more significantly. This study provides a reference for reducing the negative impact of air pollution on high-quality economic development.https://www.frontiersin.org/articles/10.3389/fenvs.2022.988450/fullair pollutioncompany risk-takingdigital financefinancing constraintmoderating effectpanel data |
| spellingShingle | Xiuping Li Ye Yang The relationship between air pollution and company risk-taking: The moderating role of digital finance Frontiers in Environmental Science air pollution company risk-taking digital finance financing constraint moderating effect panel data |
| title | The relationship between air pollution and company risk-taking: The moderating role of digital finance |
| title_full | The relationship between air pollution and company risk-taking: The moderating role of digital finance |
| title_fullStr | The relationship between air pollution and company risk-taking: The moderating role of digital finance |
| title_full_unstemmed | The relationship between air pollution and company risk-taking: The moderating role of digital finance |
| title_short | The relationship between air pollution and company risk-taking: The moderating role of digital finance |
| title_sort | relationship between air pollution and company risk taking the moderating role of digital finance |
| topic | air pollution company risk-taking digital finance financing constraint moderating effect panel data |
| url | https://www.frontiersin.org/articles/10.3389/fenvs.2022.988450/full |
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