Author(s)

Shujie Di, Yang Fu

Corresponding Author

Shujie Di

ABSTRACT

With the introduction of the “double carbon” target and the further implementation of the green credit policy, will carbon information disclosure have a significant impact on the cost of bank loans for enterprises? This is of great importance for corporate financing nowadays. In this paper, a multiple linear regression model is used to empirically analyze the impact of carbon information disclosure on the cost of bank loans for companies listed in China's A-share heavy pollution industry from 2018 to 2020. The results of the study show that the degree of carbon information disclosure of enterprises shows a negative relationship with bank loan costs, which shows that the higher the degree of carbon information disclosure, the lower the bank loan costs that enterprises have to bear; further study finds that the positive media attention weakens the negative relationship between carbon information disclosure and bank loan costs.

KEYWORDS

Carbon information disclosure, Cost of bank loans, Media attention, Heavy polluters, Information asymmetry