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| Pasquale Marcello Falcone |
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| ''Green investment strategies and bank-firm relationship: a firm-level analysis'' |
| ( 2018, Vol. 38 No.4 ) |
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| This paper investigates the determinants of firm's green investment strategies in equipment for pollution control. It uses micro-data from a large survey of Italian manufacturing firms from 2001 to 2006. In particular, we test whether the length of the firm-bank relationship affects the firm's probability of investing in environmentally friendly equipment. Our findings show that a longer relationship with the main bank fosters firms' involvement in green investment strategies in order to reduce their environmental impact. Conversely, the presence of a multiple credit relationship could concretely hinder a firm's investments towards environmental innovations.
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| Keywords: green investment strategy, bank-firm relationship, environmental innovation, probit model |
JEL: Q5 - Environmental Economics: General
G2 - Financial Institutions and Services: General |
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| Manuscript Received : Apr 30 2018 | | Manuscript Accepted : Dec 02 2018 |
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