近日，我院申琳老师以第一作者身份完成的学术论文《ESG practices and financing constraints of Chinese high-carbon enterprises under carbon reduction pressure: The role of credit financing and corporate reputation》在SSCI期刊《Economic Modelling》发表。该期刊目前SSCI 分区为Q1，JCR分区为Q1，影响因子为4.2。此外，根据最新权威学术期刊影响力排名，《Economic Modelling》获得经济学类期刊全球排名第11位。
论文题目
ESG practices and financing constraints of Chinese high-carbon enterprises under carbon reduction pressure: The role of credit financing and corporate reputation
论文摘要
Our study investigates how ESG practices affect financing constraints in high-carbon enterprises under decarbonization pressure. While ESG is widely recognized for mitigating financing frictions, its effectiveness for carbon-intensive firms remains unclear. Using panel data on Chinese listed high-carbon enterprises from 2013 to 2023, we find that ESG practices significantly alleviate financing constraints, primarily by enhancing credit access and improving corporate reputation. Among the three ESG components, only environmental practices exhibit statistically significant effects. Moreover, carbon reduction pressure amplifies these benefits. The effect is more pronounced among firms with low ESG rating divergence, limited reliance on bank financing, and no government subsidies. Our findings underscore the financial importance of environmental efforts and suggest that targeted ESG engagement can help high-carbon enterprises manage risks associated with the low-carbon transition.
作者简介：
申琳，副教授，经济学博士，研究生导师，主要从事国际金融、货币政策与商业银行经营与管理方面的教学与科研工作，以第一作者身份在《世界经济》、《财贸经济》、《经济社会体制比较》等期刊发表学术论文多篇。
