基地研究员李奥老师合作论文“Does interest rate liberalization affect corporate green investment? ”在Energy Economics公开发表。Energy Economics是能源经济学与能源金融领域的国际权威期刊，聚焦能源市场、气候政策、税收预测、货币政策等主题。

摘要：This paper investigates the impact of interest rate liberalization on corporate green investment by taking the cancellation of the lower limit of the loan interest rate of financial institutions by the People's Bank of China in July 2013 as an exogenous quasi-natural experiment. We find that the interest rate liberalization will boost corporate green investment. Specifically, for every one standard deviation increase in interest rate liberalization, the enterprise green investment intensity increases by 9.6% of the sample standard deviation on average. Moreover, underlying mechanisms show that interest rate liberalization reform can improve corporate green investment by easing financing constraints, improving market competition, and reducing business risks. In addition, the impacts are more profound on enterprises facing higher environmental supervision intensity, lower attention of capital market, higher degree of regional marketization, and lower degree of financialization. Extended analysis show that interest rate liberalization will further promote the substantive innovation of green technology and improve environmental performance after enhancing the green investment of enterprises. This study contributes to playing the role of financial services in the green transformation of the economy.

关键词：Interest rate liberalization; Green investment; Financing constraints; Market competition; Business risk

论文链接：https://doi.org/10.1016/j.eneco.2024.107377

教师简介

李奥，中南财经政法大学金融学院讲师，研究领域为公司金融、公司治理、企业创新。本科毕业于华中科技大学管理学院会计ACCA专业，硕士毕业于英国谢菲尔德大学会计与金融系，博士毕业于厦门大学管理学院财务学系。论文发表于《世界经济》、《管理科学学报》、《International Review of Financial Analysis》、《Energy Economics》、《International Review of Economics and Finance》、《Environmental Impact Assessment Review》等国内外学术期刊。国际特许公认会计师（ACCA）会员。