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eISSN: 2083-5906
ISSN: 1230-1485
ISSN: 1230-1485
ORIGINAL RESEARCH
Can the Belt and Road Initiative Promote
the Green Transformation of Chinese Enterprises?
1
School of Economics, Jinan University, Guangzhou 510632, China
2
Guangdong Huashang Institution for FinTech Research, Guangzhou, 511300, China
3
School of National Finance, Guangdong University of Finance, Guangzhou, 510521, China
Submission date: 2024-04-24
Final revision date: 2024-06-03
Acceptance date: 2024-07-09
Online publication date: 2024-11-05
Publication date: 2025-08-20
Pol. J. Environ. Stud. 2025;34(5):6291-6306
KEYWORDS
TOPICS
ABSTRACT
This study treats the Belt and Road Initiative (BRI) as a quasi-natural experiment and constructs
a difference-in-difference model using samples from Shanghai and Shenzhen A-share listed companies
spanning from 2007 to 2020 in order to examine its influence on corporate green transformation.
The research findings indicate that BRI effectively facilitates corporate green transformation, which
is further supported by robustness tests including placebo analysis and propensity score matching.
Mechanism analysis reveals that financial stability, technological support, and environmental
management serve as key channels through which the initiative drives corporate green transformation.
Moreover, BRI can generate positive spillover effects on related companies’ green transformation,
thereby creating cumulative impacts within peer enterprises.
CONFLICT OF INTEREST
The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
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| eISSN: | 2083-5906 |
| ISSN: | 1230-1485 |
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