Wellalage Nirosha Hewa, Kumar Vijay, Hunjra Ahmed Imran, Al-Faryan Mamdouh Abdulaziz Saleh
School of Accounting, Finance and Economics, The University of Waikato, Hamilton, New Zealand.
Department of Business Administration, Ghazi University, Dera Ghazi Khan, Pakistan.
Financ Res Lett. 2022 Jun;47:102568. doi: 10.1016/j.frl.2021.102568. Epub 2021 Nov 18.
The COVID-19 pandemic has resulted in substantial constraints for small and medium enterprises (SMEs) worldwide. The techniques in which SMEs handle recent crises and the degree to which environmental performance is advantageous when the marketplace experiences an adverse shock is fairly untouched in the literature. To assess this probability, we examine, using data from 6,597 SMEs in 13 developing countries, the effect of firm environmental efficiency on firm financing during the COVID-19 outbreak. We consider three aspects of external financing - bank, non-bank and trade credit - and suggest that it pays for firms to show devotion to environmental obligations in a global pandemic. Our research implies that the trust between a firm and its stakeholders, if it is based on environmental performance, pays off during periods of shock and adversity.
新冠疫情给全球中小企业带来了巨大限制。中小企业应对近期危机的方式以及在市场遭受不利冲击时环境绩效具有优势的程度，在文献中几乎未被涉及。为评估这种可能性，我们利用13个发展中国家6597家中小企业的数据，研究了新冠疫情爆发期间企业环境效率对企业融资的影响。我们考虑了外部融资的三个方面——银行信贷、非银行信贷和贸易信贷，并表明在全球大流行期间，企业履行环境义务是有回报的。我们的研究表明，如果企业与其利益相关者之间基于环境绩效建立的信任，在冲击和逆境时期会得到回报。
