Green Credit Policies and Enterprise Technology Innovation
Download PDF
Abstract.This paper makes use of the enactment of the Green Credit Guidelines as a quasi-natural experiment and builds a difference-in-differences (DID) model to identify the influence of green credit policies on technological innovation of heavy-polluting enterprises and its impact mechanism. Using the data of A-share listed enterprises from 2010 to 2019. The findings include that technological innovation of heavily polluted enterprises can be inhibited significantly by green credit policy.
Keywords.
Green Credit Policy; Technological Innovation; Heavily Polluting Enterprises.
APA Citation
Sheng Li, Min Zhou (2024). Green Credit Policies and Enterprise Technology Innovation. Frontiers in Sustainable Development, 4(11), 104-111. https://doi.org/10.54691/fntxyn72
References
- Bai F-P, Dong K-Y, Liu D-H. How digital transformation affects firms' technological innovation-an empirical analysis based on the perspective of financing constraints and agency problems[J]. Friends of Accounting, 2023, (10): 124 133.
- Wang P, Xie LW. Pollution control investment, enterprise technology innovation, and pollution control efficiency[J]. Jinan: China Population, Resources and Environment, 2014, (9): 51 58.
- Lu Jing, Yan Yun, Wang Tao Xuan. A study on the micro effects of green credit policy-Based on the perspective of technological innovation and resource reallocation[J]. China Industrial Economics, 2021(1):174-192.
- Wara, M.Is the Global Carbon Market Working? [J]. Nature, 2007,445,( 7128): 595-596.
- Guo J, Fang Y. Green credit, financing structure and corporate environmental investment [J]. World Economy, 2022, 45(08): 57-80.
- Xie T, Liu JH. How does green credit affect green economic growth in China? [J]. China Population, Resources and Environment, 2019, 29(09): 83-90.
- Wang X, Wang Y. A study on green credit policies to enhance green innovation [J]. Management World, 2021, 37(6):173-188.
- ZHANGS L, WU Z H, HE Y N. How does the green credit policy affect the technological innovation of enterprises? Evidence from China[J]. Energy Economics,2022,113.
- Guo H, Yin Jing. A study on the impact of green credit policy enactment on investment efficiency of heavily polluting enterprises: promotion or inhibition? [J]. Modern Finance and Economics, 2023, (05): 8599.
- Su Dong Wei, Lian Lili. Does green credit affect the investment and financing behavior of heavy polluters? [J]. Financial Research, 2018(12):123-137.
- LIR, CHENYW. The influence of a green credit policy on the transformation and upgrading of heavily polluting enterprises: a diversification perspective [J]. Economic Analysis and Policy,2022,74: 539552.
- Cai HJ, Wang Xiang Yao, Tan Chao. Green credit policy, new bank borrowing by enterprises, and environmental effects [J]. Beijing: Accounting Research, 2019, (3): 88-95.
- Ding J. Green Credit Policy, Credit Resource Allocation and Enterprises' Strategic Response [J]. Wuhan: Economic Review, 2019, (4): 62-75.
- Chen, X.Y., Shi, Y.Y., Song, H.C. Green credit constraints, business credit, and corporate environmental governance [J]. Beijing: International Financial Studies, 2019, (12): 13-22.
- He Ling Yun, Liang Lan, Yang Xiao Lei, Zhong Zhang Qi. Can green credit promote technological innovation of environmental protection enterprises [J]. Guangzhou: Studies in Financial Economics, 2019, (5): 109-121.
- Wang, F., S.Yang, A.Reisner, and N.Liu.Does Green Credit Policy Work in China? The Correlation Between Green Credit and Corporate Environmental Information Disclosure Quality[J]. Sustainability, 2019,11,(3): 1-15.
- Liu Jinru, Zeng Xianfeng, Zeng Qian. The impact of environmental regulation and government innovation subsidies on firms' green product innovation [J]. Beijing: Economic and Management Research, 2019, (6): 106-118.
- Li Hui dong, Tang Yuejun, Zuo Jingjing. Innovation with one's own money or with others' money: a study based on the financing structure and firm innovation of Chinese listed companies [J]. Financial Research, 2013(2): 170-183.
- Wang YAN, Dai WTA. Internal control inhibits or promotes corporate innovation: the logic of China [J]. Audit and Economic Research, 2019, 34(6): 19-32.
- Zuo Jingjing, Tang Yuejun, Sui Yue. Class II agency problems, major shareholder checks and balances, and corporate innovation investment [J]. Finance and Economics Research, 2013, 39(4): 38-47.