Do firms benefit from green bond? Evidence from government procurement in China

被引：0

作者：

Yang, Yupeng ^{[1
]}

Chen, Xingxing ^{[2
,3
]}

Song, Xianzhong ^{[3
,4
]}

Xu, Zhaoxi ^{[2
]}

机构：

[1] Xiamen Univ, Sch Management, Xiamen, Peoples R China

[2] Wuyi Univ, Sch Econ & Management, Jiangmen, Peoples R China

[3] Jinan Univ, Key Lab Philosophy & Social Sci, Guangzhou, Peoples R China

[4] Jinan Univ, Sch Management, Guangzhou, Peoples R China

来源：

APPLIED ECONOMICS LETTERS | 2025年

基金：

中国国家自然科学基金;

关键词：

Greed bond; government procurement; information transparency; environmental governance;

D O I：

10.1080/13504851.2025.2491733

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study explores whether firms benefit from green bonds from the perspective of government procurement. Using the difference-in-difference (DID) model and analysing data from Chinese non-financial listed firms between 2015 and 2022, we find that green bond issuance increases the number and amount of government procurement contracts obtained by issuing firms, with more pronounced effects observed among those with lower information transparency or ESG rating, and in regions that prioritize environmental governance. These findings enhance our understanding of the economic consequences of green bonds.

引用

页数：9

共 14 条

[1] Are pollution control bonds the solution for energy firms under the magnifying glass? [J].