The Contagion of Debt Default Risk in Energy Enterprises Considering Carbon Price Fluctuations

Under the constraints of low-carbon transformation goals, energy enterprises have significantly increased their debt default risk levels due to carbon price fluctuations. This article first analyzes the contagion mechanism of debt default risk among energy enterprises, and based on this, constructs a debt default risk contagion model among energy enterprises considering carbon price fluctuations, and then simulates and analyzes the evolution characteristics of debt default risk contagion among energy enterprises. The research results indicate that: (1) As the proportion of carbon emission cost increment and investor sentiment index increase, the stability of the debt network of energy enterprises strengthens. As the ratio of commercial credit among energy enterprises and influence of energy enterprises increase, the impact of debt risk gradually intensifies. (2) The investor sentiment index has a strengthening effect on the influence of energy enterprises, the proportion of commercial credit among energy enterprises, and the proportion of carbon emission cost increment. The commercial credit ratio between energy enterprises and its influence has a mutually reinforcing effect. (3) The investor sentiment index has suppressed debt default risk for various energy enterprises. The joint risk suppression effect of the proportion of carbon emission cost increment and the influence of energy enterprises in petroleum and petrochemical enterprises is more prominent. The joint risk constraint ability between the proportion of carbon emission cost increment and investor sentiment index in coal enterprises is stronger.

Authors

Institutions

Publication Details

Journal
Mathematics
Published
2024-09-08
DOI
https://doi.org/10.3390/math12172776
Primary Topic
Sustainable Finance and Green Bonds
Type
article
Field-Weighted Citation Impact
0.00

Funders

Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

The Contagion of Debt Default Risk in Energy Enterprises Considering Carbon Price Fluctuations

Xiaoquan Jiang, Tingqiang Chen, Ruirui Zhu, Lei Wang
Mathematics
Sustainable Finance and Green Bonds
article

The Contagion of Debt Default Risk in Energy Enterprises Considering Carbon Price Fluctuations

Xiaoquan Jiang, Tingqiang Chen, Ruirui Zhu, Lei Wang
article en

Abstract

Under the constraints of low-carbon transformation goals, energy enterprises have significantly increased their debt default risk levels due to carbon price fluctuations. This article first analyzes the contagion mechanism of debt default risk among energy enterprises, and based on this, constructs a debt default risk contagion model among energy enterprises considering carbon price fluctuations, and then simulates and analyzes the evolution characteristics of debt default risk contagion among energy enterprises. The research results indicate that: (1) As the proportion of carbon emission cost increment and investor sentiment index increase, the stability of the debt network of energy enterprises strengthens. As the ratio of commercial credit among energy enterprises and influence of energy enterprises increase, the impact of debt risk gradually intensifies. (2) The investor sentiment index has a strengthening effect on the influence of energy enterprises, the proportion of commercial credit among energy enterprises, and the proportion of carbon emission cost increment. The commercial credit ratio between energy enterprises and its influence has a mutually reinforcing effect. (3) The investor sentiment index has suppressed debt default risk for various energy enterprises. The joint risk suppression effect of the proportion of carbon emission cost increment and the influence of energy enterprises in petroleum and petrochemical enterprises is more prominent. The joint risk constraint ability between the proportion of carbon emission cost increment and investor sentiment index in coal enterprises is stronger.

MathematicsVol. 12(17)
Nanjing Tech University (CN), University of Chinese Academy of Sciences (CN)
Ministry of Education of the People's Republic of China, Government of Jiangsu Province
Openalex Percentile: Top 80%
Sustainable Finance and Green Bonds
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.