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Empirical Study on the imPact of Green Culture on Corporate Financial Risk

Dong Li, Minghua Lin


Based on the perspective of corporate culture,this study takes 464 A-share listed companies in China’s heavy pollution
industries from 2015 to 2019 as samples.The panel regression model is used to explore the impact of green culture on corporate
financial risk and the mediating role of environmental information disclosure.The results show that green culture can significantly
reduce corporate financial risk,and environmental information disclosure has a partial mediation effect on the relationship between
green culture and corporate financial risk.


Green culture;Enterprise financial risk;Environmental information disclosure

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DOI: http://dx.doi.org/10.18686/ahe.v6i15.5149