Abstract
This study examines how high-speed rail network impacts the energy consumption of hi-tech firms along the line. The results show that the opening of high-speed railway stations in a county leads to reduction in energy consumption by hi-tech firms in the county. This effect is stronger with increased density of railway lines in the region. The study identifies two key mechanisms underlying this effect: enhanced financing access and increased overseas outreach. Our findings reveal that improved financing access to public market capital, bank loans, and venture financing enables hi-tech firms to invest in international outreach activities. We also conduct additional analysis to explore nuanced conditions regarding the types of hi-tech firms that benefit the most from being located in a high-speed rail city. Contributions to the emerging field of corporate energy saving are discussed.
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