Anxia Wan

Bio: Anxia Wan is an academic researcher from Nanjing University of Information Science and Technology. The author has contributed to research in topics: Urban agglomeration & Pythagorean theorem. The author has an hindex of 3, co-authored 13 publications receiving 22 citations.

Does the green credit policy affect the scale of corporate debt financing? Evidence from listed companies in heavy pollution industries in China

Abstract: The current study constructs a quasi-natural experiment based on China’s 2012 Green Credit Guidelines and develops a difference-in-difference model using the financial data of listed companies from 2006 to 2018 to conduct empirical testing. The results reveal that the green credit policy has significantly reduced the short-term and long-term debt financing of heavily polluting enterprises; however, the restrictions on short-term debt financing are insufficient. At the same time, the decline in operating performance brings financial penalty effects, among which state-owned, large-scale, and heavily polluting enterprises in high-emission areas have strong financial penalty effects. The green credit policy encourages heavy-polluting companies to increase R&D investment and increase fixed assets investments to obtain long-term credit support with short-term investment. Furthermore, it is found that the green credit policies have significantly restrained the scale of debt financing of heavily polluting companies. The Chinese government should formulate green financial policies based on local conditions and provide credit resources to favor environmentally friendly companies. Financial institutions should strictly implement green credit standards and modify financial products and services. Companies should take the initiative to eliminate outdated production capacity to obtain green credit support.

Can corporate environmental responsibility improve environmental performance? An inter-temporal analysis of Chinese chemical companies.

Abstract: The empirical research on the relationship between corporate environmental responsibility and environmental performance remains in the one-way positive impact and lacks the research on nonlinear relationship between them. Based on the stakeholder theory, this paper selects A-share chemical-listed companies in China from 2006 to 2017 as the research samples and uses generalized method of moments (GMM) model to investigate the impact mechanism between corporate environmental responsibility and environmental performance. The results showed that corporate environmental responsibility positively impacted on environmental performance; however, the impact was not significant. The corporate environmental performance positively and significantly impacted on environmental responsibility. Moreover, results reported that industry competition played a positive regulatory role in corporate environmental responsibility affecting environmental performance and has played a positive role in corporate environmental impact on environmental responsibility. A nonlinear relationship (inverted "U" shape) between environmental responsibility and environmental performance was found. The study results stress to establish a fair and perfect market competition mechanism to improve the environmental performance of chemical industries in China.

Evolution and Driving Mechanism of Ecological Security Pattern: A Case Study of Yangtze River Urban Agglomeration

Abstract: Urbanization adversely affects the ecological environment and reduces the quality of life in China. In view of the current situation, this study aims to determine the dynamics of the ecological security pattern of urban agglomerations using the Yangtze River urban agglomeration (YRUA) as a case study. We used the pressure-state-response (PSR) framework to establish an ecological security assessment system, combined with the technique for order of preference by similarity to an ideal solution (TOPSIS) method and gray correlation method, to estimate a comprehensive ecological security index, and we analyzed its evolution trends and driving mechanisms. The results indicated that the distribution of the regional ecological security level had a linked effect and that industrial pollutants posed the greatest threat to ecological security. Moreover, the main factors affecting the YRUA were urbanization, ecopathology, economic development, population pressure, land pressure, and water resource pressure. For the protection of ecological security, it is necessary to establish an ecological security governance mechanism. Moreover, the study stresses changing the traditional sewage discharge model and establishing an ecologically safe market system. Integr Environ Assess Manag 2021;17:573-583. © 2020 SETAC.

Sustainable Development Goals (SDGs) as a Framework for Corporate Social Responsibility (CSR)

Abstract: Corporate Social Responsibility (CSR) has been an articulated practice for over 7 decades. Still, most corporations lack an integrated framework to develop a strategic, balanced, and effective approach to achieving excellence in CSR. Considering the world’s critical situation during the COVID-19 pandemic, such a framework is even more crucial now. We suggest subsuming CRS categories under Sustainable Development Goals (SDGs) be used and that they subsume CSR categories since SDGs are a comprehensive agenda designed for the whole planet. This study presents a new CSR drivers model and a novel comprehensive CSR model. Then, it highlights the advantages of integrating CSR and SDGs in a new framework. The proposed framework benefits from both CSR and SDGs, addresses current and future needs, and offers a better roadmap with more measurable outcomes.