Can green bonds empower green technology innovation of enterprises?

Telepresence robots as facilitators of physical exercise during COVID-19: a feasibility and acceptance study

The COVID-19 pandemic and associated restrictions on mobility and access to green space have disrupted exercise habits worldwide. According to the World Health Organization (WHO), approximately 1.4 billion adults were insufficiently physically active in 2016, with detrimental impacts on health. The proposed study investigated the use of telepresence-robot-based personal trainers to facilitate remote exercise during the pandemic-related lockdowns. Several adults aged 18-65 were recruited for a four-week intervention and thorough research investigation. The intervention involved one-hour outdoor exercise sessions held three times per week in a local park with a human instructor connected via a telepresence robot. Surveys assessed perceptions of social presence, usability, the intention to use the robot and the psychological benefits of access to green space. System logs tracked participation and technical errors. At baseline, 30% of the participants met the WHO physical activity (PA) recommendations, compared to 80% after the intervention. The study shows significant increases in many parameters. These are perceived in social presence (p < 0.021), usability (p < 0.04), intentions for long-term use (p < 0.05), and the mental health benefits of accessing green spaces (p < 0.013). Attendance was found to be 90%, with a 7% technical failure rate. This investigation demonstrates the promise of telepresence robots for safely providing remote access to green spaces. They can be used to facilitate exercise during public health crises, overcoming the barriers to maintaining PA.

Green bond financing, environmental regulation, and long-term value orientation: evidence from Chinese-listed companies

In recent years, green bonds have become an important part of the green financial system. In this paper, we investigate theoretically and empirically how green bond financing impacts corporate long-term value orientation. To study this relationship, we manually collect green bond financing data and use Python to construct a measure reflecting corporate long-term value. Using a sample of Chinese A-share bond issuing companies from 2016 to 2021, we find that (1) green bond financing can significantly promote companies to pursue long-term value, in which financing costs, management's strategic risk-taking, and external supervision are the underlying mechanisms. (2) There is a synergistic effect between green bond financing and environmental regulation, which can jointly improve the intensity of corporate long-term value orientation. (3) The relationship between green bond financing and corporate long-term value is more significant in enterprises with heavily polluting, lower risk-taking levels, less strategic change, and lower financial mismatch risk. Our findings reveal the "corrective" effect of green bond financing on management's strategic decision-making, which provides new empirical evidence for comprehensively and accurately evaluating the role of green bonds and promoting the development of the green bond market.

The construction of green finance and high-quality economic development under China's SDGs target

The study of top economic growth with the goal of Sustainable Development Goals (SDGs) has become an important issue in the world, and scholars have analyzed high-quality economic development(HED) influencing factors from many perspectives, but there are few studies on green finance(GF) and high-quality economic development(HED). we examine the logical link between green financing and high-quality economic development, as well as the transmission mechanism behind this relationship. Using data from 30 Chinese regions from 2011 to 2021, our empirical study shows that green financing may improve high-quality economic development. Several robustness tests show that this association exists. Furthermore, our findings indicate that more robust government governance and market synergy may promote green finance for high-quality economic development. Green finance can enhance high-quality economic development by minimizing resource mismatch and encouraging green technology advancement. Simultaneously, green finance for high-quality economic development is significantly heterogeneous. Green credit and green insurance are important forms of support for promoting high-quality economic development, with significantly higher impacts in the eastern regions than in the central and western regions. Our research offers policymakers insights on encouraging green finance growth in China.

Unraveling the influence of green bonds on environmental sustainability and paving the way for sustainable energy projects in green finance

The acceleration of renewable energy has emerged as a cornerstone strategy in mitigating climate change and advancing the sustainable stewardship of our natural resources. Nonetheless, financing renewable energy projects remains a challenging issue. In this context, green bonds have surfaced as a promising financial instrument to propel renewable energy projects forward and foster sustainable resource development. This study endeavors to evaluate the transformative impact of green bonds on renewable energy investments in China. Leveraging the fuzzy analytical hierarchy process (AHP) and the fuzzy weighted aggregates sum product assessment (WASPAS) methods, we delve into the Chinese landscape to dissect the correlation between green bonds and renewable energy investment outcomes. Through extensive literature review, we have identified several factors, comprising nuanced sub-factors, alongside distinctive investment strategies pertinent to the effective utilization of green bonds in the renewable energy sector. The fuzzy AHP analysis reveals that financial, environmental, and regulatory are the most influential factors. Employing the fuzzy WASPAS method, our findings emphasize the transformative potential of green bonds in significantly accessing to capital of renewable energy projects in the context of Chinese. This research sheds light on the pivotal role green bonds play in driving sustainable natural resource development through substantial investments in renewable energy projects.

The impact of investor sentiment on firms' green total factor productivity-facilitator or inhibitor?

Investor sentiment does not only have negative impacts. It may also improve green total factor productivity by invigorating funds. This research constructs a new indicator at the firm level to measure the green total factor productivity of firms. We research the effect of investor sentiment on firms' green total factor productivity using a sample of Chinese heavy polluters listed on Shanghai and Shenzhen A-shares between 2015 and 2019. Through a series of tests, the mediating role of agency costs and financial situations is confirmed. It is discovered that the digitization of businesses facilitates the effect of investor sentiment on the green total factor productivity of businesses. And when managerial competence reaches a certain threshold, the impact of investor sentiment on green total factor productivity is amplified. Tests for heterogeneity reveal that high investor sentiment has a larger impact on green total factor productivity in firms with superior supervision.

How does the fiscal pressure of local governments affect China's PM2.5 emissions?

Affected by the epidemic and other factors, the global economy is in a downturn, and countries around the world are under unprecedented debt pressure. How will this affect environmental protection? Taking China as an example, this paper empirically studies the impact of changes in local government behavior on urban air quality under fiscal pressure. This paper uses the generalized method of moments (GMM) to find that fiscal pressure has significantly reduced PM2.5 emissions, with a unit increase in fiscal pressure will increase PM2.5 by about 2%. The mechanism verification shows that three channels affect PM2.5 emissions: (1) fiscal pressure has prompted local governments to relax the supervision of existing pollution-intensive enterprises. (2) Local governments reduce environmental regulations for attracting more pollution-intensive enterprises. (3) Local governments tend to reduce environmental protection investment to save fiscal expenses. The paper's conclusions provide new policy ideas for promoting environmental protection in China, as well as served as a case for analyzing current changes in environmental protection in other countries.

The impact of digital inclusive finance on corporate ESG performance: based on the perspective of corporate green technology innovation

Enterprises are important subjects in the transformation of national green development, while financial support is an important thrust to promote the fulfillment of environmental responsibility. In the dual context of building a digital inclusive financial system and green transformation of corporate production, this paper explores the impact of digital inclusive finance on corporate ESG performance and its mechanism of action through theoretical and empirical analyses using data of Chinese A-share listed enterprises from 2011 to 2020. It is found that the development of digital inclusive finance significantly contributes to the improvement of corporate ESG performance, and the impact of digital inclusive finance on corporate ESG performance has a marginal decreasing effect, while corporate green technology innovation has a marginal increasing effect on corporate ESG performance. The mechanism analysis found that corporate green technology innovation has a mediating effect. The development of digital inclusive finance can enhance the green technology innovation ability of enterprises, and the green technology innovation of enterprises enhances the green sustainability ability of enterprises and improves the ESG performance of corporates. Further research shows that the effects of digital inclusive finance and corporate green technology innovation on corporate ESG performance are industry heterogeneous and pollution degree heterogeneous. How to promote financial services to better promote the combination of corporate green development and fulfillment of social and environmental responsibility is the most direct research implication of this paper.