Abstract
Using low-carbon city pilot policy as a natural experiment, this study investigates whether low-carbon city pilot policy can help enterprises attract green investor entry in China. The results show that low-carbon city pilot policy significantly attracts green investor entry, which is more pronounced in non-state-owned enterprises and heavily polluting enterprises. Mechanism studies indicate that low-carbon city pilot policy facilitates green investor entry by alleviating financing constraints and strengthening enterprises' risk-taking.
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