Enhancing borrowing-firm equity through renewable energy adoption, consumer green awareness, and insurer sustainable finance
學年 112
學期 1
出版（發表）日期 2023-08-09
作品名稱 Enhancing borrowing-firm equity through renewable energy adoption, consumer green awareness, and insurer sustainable finance
作品名稱（其他語言）
著者 Lin, Jyh-horng
單位
出版者
著錄名稱、卷期、頁數 Energy Economics 2023 126,　106937
摘要 Small and medium-sized manufacturers increasingly adopt renewable energy sources for sustainable production but often require funds from financial institutions that prioritize sustainability. This study develops a capped call option model to evaluate an insurer's equity while considering the credit risks associated with a manufacturing borrower's renewable energy adoption. The study finds that a win-win situation can be achieved through renewable energy adoption with sustainable finance, with the insurer's interest margin and the manufacturer's equity value increasing. Furthermore, consumer green awareness also contributes to a win-win situation. However, implementing a stringent regulatory cap under the cap-and-trade mechanism can negatively impact the win-win structure, despite yielding insurance stability. The results suggest that when regulatory authorities conduct a cap-and-trade scheme, sustainable finance providers and manufacturing borrowers are more likely to contribute to environmental improvement through renewable energy adoption for production. Overall, this study highlights the potential benefits of renewable energy adoption and sustainable finance for manufacturers and insurers, as well as the positive impact of consumer green awareness. The findings can inform policymakers and market players in developing effective strategies to promote sustainable production and financial stability.
關鍵字 Cap-and-trade;Consumer greenness awareness;Insurer sustainable finance;Renewable energy adoption
語言 en
ISSN 1873-6181
期刊性質 國外
收錄於 SSCI Scopus
產學合作
通訊作者 Lin, Jyh-horng
審稿制度 是
國別 GBR
公開徵稿
出版型式 ,電子版
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