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Determinants of Access to Green Finance in Vietnam: An Empirical Research
Ist Teil von
The Journal of Asian finance, economics, and business, 2021-09, Vol.8 (9), p.79-89
Ort / Verlag
한국유통과학회
Erscheinungsjahr
2021
Quelle
Free E-Journal (出版社公開部分のみ)
Beschreibungen/Notizen
Green finance plays an important role in environmental protection missions and fighting climate change. The Environment Fund in Vietnam is the main channel of preferential capital offered to firms for environmental protection. Unfortunately, it was previously unknown which criteria influenced these companies' ability to obtain green financing. Using a survey method, we collected data through a structured questionnaire of 203 respondents that represent firms that had received concessional loans from 26 Environment Funds. A Multiple Linear Regression model was used to examine the determinants of access to concessional loans for environmental protection. We found relationships between age, size, ownership type, and industry sector, and access to green finance. Third-party guarantees were a significant factor in financing through Environment Funds. Moreover, we found commercial environmental projects face fewer green financing obstacles. Surprisingly, showing audited financial statements does not mitigate the information asymmetry between firms and these financial institutions. These findings suggest that Environment Funds should classify environmental project types to develop appropriate lending policies. In emerging markets, enterprises need to build a trusted relationship with financial institutions so that they can replace asset-based lending techniques, thereby increasing the firms' accessibility to green finance.
Sprache
Koreanisch
Identifikatoren
ISSN: 2288-4637
eISSN: 2288-4645
Titel-ID: cdi_kisti_ndsl_JAKO202124553373176
Format
–
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