The Impact of Financial Geographical Structure on Corporate Pollution Emissions

Zhenlan Du

doi:10.62051/3vg9bs39

Authors

Zhenlan Du

DOI:

https://doi.org/10.62051/3vg9bs39

Keywords:

Financial Geographical Structure; Corporate Pollution Emissions; Structural Reform of Financial Supply Side.

Abstract

This chapter takes a macro perspective on the financial geographical structure, starting from the perspective of financial agglomeration and financial center spillover. Based on the Chinese industrial enterprise database, Chinese pollution emission database, and the China City Statistical Yearbook, it explores the impact of financial geographical structure on corporate pollution reduction. The study finds that local financial agglomeration and financial center spillover can significantly reduce the intensity of corporate pollution emissions, which remains robust after a series of rigorous tests. Mechanism analysis indicates that local financial agglomeration and financial center spillover can promote corporate pollution reduction through the effect of technological innovation. The research conclusions of this chapter can provide new insights for deepening the structural reform of financial supply side.

Downloads

Download data is not yet available.

References

Han Y.N, Yang J.F, Zhou Q. Does China’s Financial Geography Supply Affect the Quality of Regional Economic Growth? -- From the Perspective of Local Finance and Regional Financial Center Construction [J]. Exploration of economic issues, 2020 (06): 108-119.

Sun G.M, Fan Y.J. The nature, function and path choice of financial centers [J]. Management world, 2013 (11): 1-13.

Cai Q.F, Chen Y.H, Lin K. Availability of credit resources and enterprise innovation: incentive or restraint--Micro evidence based on bank outlet data and financial geographic structure [J]. Economic research, 2020, 55 (10): 124-140.

Tao F, Hu J, Li S.T., etc. How does financial geography affect enterprise productivity--Also on the structural reform of the financial supply side [J]. Economic research, 2017, 52 (09): 55-71.

Mao Q.L, Chen L.Y., Financial geography and corporate imports: Micro Evidence from Chinese manufacturing [J]. World economic research, 2022 (01): 30-46+134-135.

Audretsch D B, Feldman M P. R&D Spillovers and the Geography of Innovation and Production[J]. American Economic Review, 1996, 86(3):630-640.

Li H, Wang Y.X., Financial agglomeration, spatial spillover and urban economic growth - An Empirical Study Based on the Dubin model of 286 urban spatial panels in China [J]. International financial research, 2014 (02): 89-96.

Wan P.B., Yang M, Chen L. How environmental technical standards affect the green transformation of China's manufacturing industry - from the perspective of technological transformation [J]. China industrial economy, 2021 (09): 118-136.

Su D.N, Sheng B. Industrial agglomeration, agglomeration externalities and enterprise emission reduction - New Micro Evidence from China [J]. Economics (quarterly), 2021.21 (05): 1793-1816.

LV Y, Zhang H.T. Will breaking market segmentation promote Chinese enterprises to reduce emissions? [J]. financial research, 2021, 47 (09): 4-18.

Forslid R, Okubo T, Ulltveit-Moe K H. Why are firms that export cleaner? International trade, abatement and environmental emissions[J]. Journal of Environmental Economics and Management, 2018, 91: 166-183.

Chen D.K. Falling trade barriers and improving environmental pollution - new evidence from pollution data from Chinese enterprises [J]. Economic research, 2020-55 (12): 98-114.

Shao C, An How digital product imports affect enterprise environmental performance [J]. Nankai economic research, 2023 (08): 101-118. Doi: 10.14116/j.nkes.2023. 08.006.

Petersen M A, Rajan R G. Does distance still matter? The information revolution in small business lending[J]. The journal of Finance, 2002, 57(6): 2533-2570.

Porteous D. The development of financial centres: Location, information externalities and path dependence[J]. Money and the space economy, 1999: 95-114.

Davis E P. International financial centres: an industrial analysis[M]. London: Bank of England, 1990.

Kindleberger C. P. The Formation of Financial Centers: Economic Response Comparative Studies in Trade, Finance, and Growth[J]. Journal of Physics G Nuclear & Particle Physics, 1978, 16(7):1019-1037.

Agarwal S, Hauswald R. Distance and private information in lending[J]. The Review of Financial Studies, 2010, 23(7): 2757-2788.

Buera F J, Shin Y. Productivity growth and capital flows: The dynamics of reforms[J]. American Economic Journal: Macroeconomics, 2017, 9(3): 147-185.

Zhu D.B, Zhang X.W. Has digital finance promoted industrial structure upgrading through technological innovation? [J] Research Management, 2023, 44 (7): 73.

Brandt L, Van Biesebroeck J, Zhang Y. Creative accounting or creative destruction? Firm-level productivity growth in Chinese manufacturing[J]. Journal of development economics, 2012, 97(2): 339-351.

Lin Y.F, Sun X.F, Jiang Y. A Preliminary Study on the Theory of Optimal Financial Structure in Economic Development [J]. Economic Research, 2009,44 (08): 4-17.