The Effect of Green Credit on Enterprises’ Green Transformation under Sustainable Development: Evidence from Green Innovation in High-Pollution Enterprises in China-Reference-Cited by-同舟云学术

The Effect of Green Credit on Enterprises’ Green Transformation under Sustainable Development: Evidence from Green Innovation in High-Pollution Enterprises in China

Published:2023-12-26 Issue:1 Volume:16 Page:235
ISSN:2071-1050
Container-title:Sustainability
language:en
Short-container-title:Sustainability

Author:

Tian Shining¹,Zhang Hongli²,Xu Guangping³

Affiliation:

1. School of Economics and Management, Jilin Jianzhu University, Changchun 130118, China

2. School of Business and Management, Jilin University, Changchun 130012, China

3. School of Economics and Management, Changchun University of Science and Technology, Changchun 130013, China

Abstract

How to help enterprises reduce pollution and transform into environmentally friendly enterprises through financial channels is an important issue that needs to be urgently addressed. This study constructs a quasi-natural experiment based on the implementation of the 2012 Green Credit Guidelines and evaluates the impact of green credit policy on green transformation in high-pollution enterprises from the aspect of green innovation. The research results found the following: (1) After the implementation of green credit policy, the quantity and quality of green innovation in high-pollution enterprises have significantly improved. (2) To avoid the inaccuracy of research conclusions caused by differences in sample characteristics, this study used the PSM-DID model to verify the promoting effect of green credit policy on the green transformation of high-pollution enterprises. (3) Furthermore, this study analyzed the impact of differences in the ownership nature of enterprises and regional financial development levels on the green transformation of high-pollution enterprises under green credit policy. The results show that green credit policy has a stronger impact on the green innovation of state-owned high-pollution enterprises and high-pollution enterprises in underdeveloped financial areas. The findings of this study provide an important reference for the reform of green finance of government departments.

Funder

Humanities and Social Science Fund of the Ministry of Education

Publisher

MDPI AG

Subject

Management, Monitoring, Policy and Law,Renewable Energy, Sustainability and the Environment,Geography, Planning and Development,Building and Construction

Link

https://www.mdpi.com/2071-1050/16/1/235/pdf

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