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Carbon Information Disclosure, Marketization, and Cost of Equity Financing
Using listed enterprises in China’s heavy pollution industry from 2009 to 2013, this study tests the relationship between marketization degree, carbon information disclosure, and the cost of equity financing. The results show that, regardless of marketization degree, the overall level of carbon info...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
MDPI
2019
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6339175/ https://www.ncbi.nlm.nih.gov/pubmed/30626003 http://dx.doi.org/10.3390/ijerph16010150 |
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author | Li, Li Liu, Quanqi Wang, Jun Hong, Xuefei |
author_facet | Li, Li Liu, Quanqi Wang, Jun Hong, Xuefei |
author_sort | Li, Li |
collection | PubMed |
description | Using listed enterprises in China’s heavy pollution industry from 2009 to 2013, this study tests the relationship between marketization degree, carbon information disclosure, and the cost of equity financing. The results show that, regardless of marketization degree, the overall level of carbon information disclosure of listed enterprises in China’s heavy pollution industry is low. The content of carbon information disclosure is mainly non-financial carbon information, and the financial carbon information disclosure is very low. The cost of equity financing is different in areas with different marketization degrees, specifically speaking, the cost of equity financing is lower in regions with a high marketization degree than that of a low marketization degree. Carbon information disclosure, non-financial carbon information disclosure, and financial carbon information disclosure are negatively correlated with the cost of equity financing. The marketization degree has strengthened the negative correlation between carbon information disclosure, non-financial carbon information disclosure, financial carbon information disclosure, and the cost of equity financing, respectively. |
format | Online Article Text |
id | pubmed-6339175 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2019 |
publisher | MDPI |
record_format | MEDLINE/PubMed |
spelling | pubmed-63391752019-01-23 Carbon Information Disclosure, Marketization, and Cost of Equity Financing Li, Li Liu, Quanqi Wang, Jun Hong, Xuefei Int J Environ Res Public Health Article Using listed enterprises in China’s heavy pollution industry from 2009 to 2013, this study tests the relationship between marketization degree, carbon information disclosure, and the cost of equity financing. The results show that, regardless of marketization degree, the overall level of carbon information disclosure of listed enterprises in China’s heavy pollution industry is low. The content of carbon information disclosure is mainly non-financial carbon information, and the financial carbon information disclosure is very low. The cost of equity financing is different in areas with different marketization degrees, specifically speaking, the cost of equity financing is lower in regions with a high marketization degree than that of a low marketization degree. Carbon information disclosure, non-financial carbon information disclosure, and financial carbon information disclosure are negatively correlated with the cost of equity financing. The marketization degree has strengthened the negative correlation between carbon information disclosure, non-financial carbon information disclosure, financial carbon information disclosure, and the cost of equity financing, respectively. MDPI 2019-01-08 2019-01 /pmc/articles/PMC6339175/ /pubmed/30626003 http://dx.doi.org/10.3390/ijerph16010150 Text en © 2019 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/). |
spellingShingle | Article Li, Li Liu, Quanqi Wang, Jun Hong, Xuefei Carbon Information Disclosure, Marketization, and Cost of Equity Financing |
title | Carbon Information Disclosure, Marketization, and Cost of Equity Financing |
title_full | Carbon Information Disclosure, Marketization, and Cost of Equity Financing |
title_fullStr | Carbon Information Disclosure, Marketization, and Cost of Equity Financing |
title_full_unstemmed | Carbon Information Disclosure, Marketization, and Cost of Equity Financing |
title_short | Carbon Information Disclosure, Marketization, and Cost of Equity Financing |
title_sort | carbon information disclosure, marketization, and cost of equity financing |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6339175/ https://www.ncbi.nlm.nih.gov/pubmed/30626003 http://dx.doi.org/10.3390/ijerph16010150 |
work_keys_str_mv | AT lili carboninformationdisclosuremarketizationandcostofequityfinancing AT liuquanqi carboninformationdisclosuremarketizationandcostofequityfinancing AT wangjun carboninformationdisclosuremarketizationandcostofequityfinancing AT hongxuefei carboninformationdisclosuremarketizationandcostofequityfinancing |