Do green credit guidelines impact on heavily polluting firms in rent-seeking?

Zhong, Qian; Han, Liyan; Jin, Jiayu

doi:10.1016/j.frl.2022.102747

Cited by 27 publications

(13 citation statements)

References 22 publications

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“…However, the GC can theoretically lower corporate CEI by reducing investment carbon intensity. According to the GC, the credit funds financed by banks should be invested in low‐carbon projects such as green technological innovations and environmental management while pollution‐intensive investment will decrease (Chai et al, 2022; Zhong et al, 2022), contributing to the reduction of investment carbon intensity measured by the ratio of carbon emissions to investment (Zhang, Deng, & Wu, 2022). The reduction of investment carbon intensity is the key factor that contributes to lowering the CEI.…”

Section: Hypothesis Developmentmentioning

confidence: 99%

Can green credit policy reduce corporate carbon emission intensity: Evidence from China's listed firms

Jahanger

et al. 2023

Corp Soc Responsibility Env

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Green credit policy is designed to address the global climate risk. However, few studies have investigated empirically whether green credit policy indeed reduces corporate carbon emission intensity. Based on firm‐level data in China and a difference‐in‐differences model, this study explores how corporate carbon emission intensity evolves following the green credit policy. We find that, on the whole, the green credit can effectively reduce corporate carbon emission intensity, while the dynamic negative effect tends to alleviate after 2017. Specifically, green credit reduces corporate carbon emission intensity mainly through lowering investment carbon intensity and enhancing environmental supervision. However, the signaling mechanism of green credit does not significantly alleviate corporate carbon emission intensity. The green credit has a stronger reduction effect on corporate carbon emission intensity with third‐party certification, non‐state‐owned ownership, and high financing constraint. We thereby suggest that innovations should be made to the standards and processes of green credit to ensure sustainability and stability. Quantitative and standardized corporate environmental information disclosure is essential for the low‐carbon effect on green finance innovation.

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Section: Hypothesis Developmentmentioning

confidence: 99%

Can green credit policy reduce corporate carbon emission intensity: Evidence from China's listed firms

Jahanger

et al. 2023

Corp Soc Responsibility Env

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“…With regard to the 10.3389/fpsyg.2022.1041798 enterprises' own goals for obtaining government grants, the effect of grants on the green transformation of businesses can vary greatly. If businesses use green development as a way to obtain government subsidies, their green activities are essentially commercial interests, forming unfavorable selection of subsidies from the government and encouraging rentseeking behavior from subsidies (Zhong et al, 2022). However, when businesses uphold their social obligations and include green development in their sustainable development strategy, government subsidies can quickly ease the plight of businesses when heavy polluters are short on funds (Huang et al, 2019) and promote green innovation (Song et al, 2020).…”

Section: The Mediating Role Of Government Subsidiesmentioning

confidence: 99%

Green credit and enterprise green operation: Based on the perspective of enterprise green transformation

Niu

Zhao²,

Luo³

et al. 2022

Front. Psychol.

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This paper uses panel data of listed heavily polluting enterprises from 2007 to 2021, based on the perspective of transformation and upgrading of heavy polluters, innovatively studies the impact of green credit on the green operation of enterprises. At the micro level, the research results of this paper verify the effectiveness of green credit policy on the transformation of green enterprises. It is also found that the two intermediary paths of debt cost and government subsidy play a partial intermediary role in the process of green credit promoting green enterprise transformation and upgrading. Green credit policy also moderates the green transformation of enterprises through debt cost and government subsidies. Based on the research results, this paper puts forward targeted policy suggestions from the aspects of financing constraints, government subsidy policies, enterprise technological innovation and green operation, and provides empirical support for the current expansion of green credit policies in China.

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“…Studies show that firms in polluting industries have a higher tendency to make corporate donations to divert public attention from environmentally unethical behavior (Du, 2015). We added one dummy variable, polluting industry , which took the value of 1 if a firm resides in polluting industries based on the 2012 CSRC classification and 0 otherwise (Zhong et al, 2022). These industries include gas and mining, petroleum processing, paper, chemical materials and manufacturing, rubber, metals, power, and heat.…”

Section: Empirical Analysismentioning

confidence: 99%

Customer concentration and corporate charitable donations: Evidence from China

2022

Manage Decis Econ

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This study examines the impact of customer concentration on corporate charitable donations. Drawing on stakeholder and resource dependency theories, we argue that when firms rely on a small set of customers for a significant proportion of sales revenue, they will reduce corporate charitable donations. State ownership and industry competition moderate this relationship. Using data on corporate donations from Chinese listed firms between 2009 and 2019, we find support for our hypotheses. Our study contributes to the literature on customer concentration and corporate philanthropy in emerging economies.

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Do green credit guidelines impact on heavily polluting firms in rent-seeking?

Cited by 27 publications

References 22 publications

Can green credit policy reduce corporate carbon emission intensity: Evidence from China's listed firms

Can green credit policy reduce corporate carbon emission intensity: Evidence from China's listed firms

Green credit and enterprise green operation: Based on the perspective of enterprise green transformation

Customer concentration and corporate charitable donations: Evidence from China

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