Does the green credit policy improve audit fees? Evidence from Chinese firms
Using panel data for Chinese listed firms from 2009 to 2015, this research examines the impact of the green credit policy on the audit fees of heavily polluting firms by adopting a difference-in-difference (DID) model. The results show that the green credit policy increases the audit fees of heavily...
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| Veröffentlicht in: | Journal of environmental planning and management 2024-04, Vol.67 (5), p.943-966 |
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| container_title | Journal of environmental planning and management |
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| creator | Qian, Ziming Wang, Shanyong Li, Haidong Wu, Jian |
| description | Using panel data for Chinese listed firms from 2009 to 2015, this research examines the impact of the green credit policy on the audit fees of heavily polluting firms by adopting a difference-in-difference (DID) model. The results show that the green credit policy increases the audit fees of heavily polluting firms, suggesting that auditors can perceive the risks imposed by the green credit policy on heavily polluting firms. Mechanism tests reveal that the implementation of the green credit policy increases audit fees by increasing the financing cost and reducing the loan maturity. Further research shows that the positive effect is more significant in regions with stronger regulatory environments and higher trust, and among firms without political connections and audited by the top-ten domestic audit firms. The Chinese government should actively encourage third-party financial institutions to participate in firms' environmental governance. |
| doi_str_mv | 10.1080/09640568.2022.2142905 |
| format | Article |
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Evidence from Chinese firms</title><source>PAIS Index</source><source>Taylor & Francis:Master (3349 titles)</source><creator>Qian, Ziming ; Wang, Shanyong ; Li, Haidong ; Wu, Jian</creator><creatorcontrib>Qian, Ziming ; Wang, Shanyong ; Li, Haidong ; Wu, Jian</creatorcontrib><description>Using panel data for Chinese listed firms from 2009 to 2015, this research examines the impact of the green credit policy on the audit fees of heavily polluting firms by adopting a difference-in-difference (DID) model. The results show that the green credit policy increases the audit fees of heavily polluting firms, suggesting that auditors can perceive the risks imposed by the green credit policy on heavily polluting firms. Mechanism tests reveal that the implementation of the green credit policy increases audit fees by increasing the financing cost and reducing the loan maturity. Further research shows that the positive effect is more significant in regions with stronger regulatory environments and higher trust, and among firms without political connections and audited by the top-ten domestic audit firms. 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The Chinese government should actively encourage third-party financial institutions to participate in firms' environmental governance.</description><subject>audit fee</subject><subject>Audits</subject><subject>Companies</subject><subject>cost of debt</subject><subject>Credit policy</subject><subject>debt maturity</subject><subject>Environmental governance</subject><subject>Environmental policy</subject><subject>Fees & charges</subject><subject>Financial institutions</subject><subject>Governance</subject><subject>green credit policy</subject><subject>Maturity</subject><subject>Panel data</subject><subject>Public finance</subject><issn>0964-0568</issn><issn>1360-0559</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2024</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><recordid>eNp9UE1LAzEQDaJgrf4EIeB56yTZZJuTSq0fUPCi55Dmw6Z0NzXZVvrvzVK9OpdhhvfevHkIXROYEJjCLUhRAxfTCQVKJ5TUVAI_QSPCBFTAuTxFowFTDaBzdJHzGgA4I2KEFo_RZdyvHP5MznXYJGdDj7dxE8wBh3ab4t5hvRuW3rl8h-f7YF1nHPYptni2Cp3LZQipzZfozOtNdle_fYw-nubvs5dq8fb8OntYVIY1pK8aIILWpazm1FgwxTE42SwdlUtOa6FrwhpjJbO0Zn4quF-CBCtqyw2Rho3RzVG3uPvaudyrddylrpxUVFLJCJTfCoofUSbFnJPzaptCq9NBEVBDcOovODUEp36DK7z7Iy90PqZWf8e0sarXh01MPunOhKzY_xI_a15y5g</recordid><startdate>20240415</startdate><enddate>20240415</enddate><creator>Qian, Ziming</creator><creator>Wang, Shanyong</creator><creator>Li, Haidong</creator><creator>Wu, Jian</creator><general>Routledge</general><general>Taylor & Francis Ltd</general><scope>AAYXX</scope><scope>CITATION</scope><scope>7ST</scope><scope>7TA</scope><scope>7TQ</scope><scope>7U7</scope><scope>8BJ</scope><scope>8FD</scope><scope>C1K</scope><scope>DHY</scope><scope>DON</scope><scope>FQK</scope><scope>FR3</scope><scope>JBE</scope><scope>JG9</scope><scope>KR7</scope><scope>SOI</scope></search><sort><creationdate>20240415</creationdate><title>Does the green credit policy improve audit fees? 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| source | PAIS Index; Taylor & Francis:Master (3349 titles) |
| subjects | audit fee Audits Companies cost of debt Credit policy debt maturity Environmental governance Environmental policy Fees & charges Financial institutions Governance green credit policy Maturity Panel data Public finance |
| title | Does the green credit policy improve audit fees? Evidence from Chinese firms |
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