Fig 1.
Proportion of stranded assets among coal mining assets under different warming targets.
Fig 2.
Comparison between profitability (ROA) and environmental costs of high carbon enterprises.
Data sources: National Bureau of Statistics, Chinese Academy of Environmental Sciences, Wind database (as at December 2023).
Fig 3.
Graphical representation of the hypothesis for the study.
Table 1.
Variable list.
Table 2.
Descriptive statistics.
Table 3.
Baseline regression results.
Table 4.
Financing constraint locking mechanism.
Table 5.
Resource allocation mechanism.
Table 6.
Sobel test results.
Table 7.
Regulating mechanism of internal capital market activity.
Table 8.
The moderating mechanism of financialization peer effect.
Table 9.
Endogeneity test based on propensity score matching.
Table 10.
Heterogeneous effects of climate risk types on resilience.
Table 11.
Climate risk and its impact on short- and long-term resilience.