Can Green Financial Policy Enhance the Enterprise Value of Companies with Low ESG Ratings? Evidence Derived from Chinese A-Share Listed Companies
In: FRL-D-24-04384
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In: FRL-D-24-04384
SSRN
In: FRL-D-24-05050
SSRN
In: Corporate social responsibility and environmental management, Band 31, Heft 6, S. 5327-5342
ISSN: 1535-3966
AbstractThis study combined the Latent Dirichlet Allocation topic model to explore the potential topics of new energy vehicle (NEV) policies and their impacts on the corporate social responsibility (CSR) of new energy vehicle enterprises. The results reveal that financial subsidies, infrastructure development, and environmental protection are the most popular topics. And these three popular topics have significant positive impacts on the CSR of new energy vehicle enterprises, with infrastructure construction having the most significant impact. Additionally, the intensity of the positive impact on large‐scale enterprises is more significant compared with small‐scale enterprises, and the impact on state‐owned enterprises is more remarkable than on private enterprises. Moreover, these three popular topics have more significant impacts on CSR in China's eastern region. Finally, we conclude this study by discussing the theoretical and practical implications of these findings.