The Impact of Climate Risks on Corporate Debt Financing

Ma X., Zhao X., HAVİOUR CHEN X., Wang Z.

European Financial Management, 2025 (SSCI, Scopus) identifier

  • Nəşrin Növü: Article / Article
  • Nəşr tarixi: 2025
  • Doi nömrəsi: 10.1111/eufm.70035
  • jurnalın adı: European Financial Management
  • Jurnalın baxıldığı indekslər: Social Sciences Citation Index (SSCI), Scopus, ABI/INFORM, EconLit, vLex
  • Açar sözlər: climate risks, corporate debt financing, just transition, machine learning, resilience, sustainable finance, text analysis
  • Adres: Bəli

Qısa məlumat

As global resource demands and climate pressures grow, companies face the dual challenge of sustainability and environmental responsibility. Using panel data from U.S. publicly listed firms (2014–2022) and a text-based proxy for climate risks, this study explores the impact of just transition climate risks on corporate debt financing. Results show climate risks increase debt financing, driven by optimized leverage and operational strategies, but also constrain financing through efficiency and liquidity pressures. Smaller firms benefit most, though supply chain stress can reduce economic value. This study provides actionable insights for strengthening resilience and competitiveness in a low-carbon economy.