Impacts of green credit policies and information asymmetry: From market perspective

Li, Xin; Wu, Ming C.; Shi, Victor; Chen, Yan

doi:10.1016/j.resourpol.2023.103395

Cited by 8 publications

(2 citation statements)

References 47 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Some firms may treat information related to green technologies as business secrets (such as the market prospects of environmental protection projects, their expected benefits and potential risks, and so forth) and hence are unwilling to disclose it (Ho et al, 2023). Furthermore, external stakeholders at an informational disadvantage need to pay high information-screening costs to identify sustainable projects and continually monitor a firm's operations (Li et al, 2023b). These factors aggravate information asymmetry between firms and stakeholders.…”

Section: Green Signalsmentioning

confidence: 99%

Green signals: The impact of environmental protection support policies on firms' green innovation

Yang,

Song,

Liu

2023

Bus Strat Env

View full text Add to dashboard Cite

The importance of government environmental financial incentives in stimulating firms' green innovation has long been recognized. However, researchers have yet to fully determine how a small amount of financial incentives can be used to promote expensive green innovation. Unlike prior studies based on the investigation of direct effects, this study provides a new perspective by employing signaling theory. Focusing on environmental protection support policy (EPSP) in China, it employs ordinary least squares (OLS) regression and generalized structural equation modeling (GSEM) to analyze a sample of panel data from China's A‐share listed companies from 2003 to 2020. The results suggest that EPSP funding can serve as a green signal that helps firms acquire external resources for green innovation. The results of this study enhance our understanding of the role that government financial incentives play in firms' green innovation and inform policymakers on how to formulate effective environmental policies.

show abstract

Section: Green Signalsmentioning

confidence: 99%

Green signals: The impact of environmental protection support policies on firms' green innovation

Yang,

Song,

Liu

2023

Bus Strat Env

View full text Add to dashboard Cite

show abstract

“…Most scholars view green credit as a product with the goal of helping enterprises to reduce their energy consumption [4], save resources [5], introduce more financial resources into the green and low-carbon field, change the development mode of enterprises, and enhance sustainable development capabilities [6]. Different commercial banks design differentiated green credit products based on their own capital capacity and implementation conditions to meet the funding needs of different industries and enterprises [7]. Scholars also perform analysis from the perspective of banks regarding what conditions are required for the development of green credit business, as well as the difficulties and obstacles that may be faced, and then propose relevant solutions [8].…”

Section: Introductionmentioning

confidence: 99%

Can Green Credit Improve the Innovation of Enterprise Green Technology: Evidence from 271 Cities in China

Mi,

Cui,

Zhu

et al. 2024

Systems

View full text Add to dashboard Cite

With the promotion of the “carbon neutrality” and “carbon peak” initiatives, green credit plays an important role in helping enterprises to change their high-pollution, high-energy-consumption production methods and establishing a sound green, low-carbon, and circular economic system. This study used spatial correlation analysis and a fixed effects SDM model to examine the spatiotemporal and causal relationship between green credit levels and enterprise green technology innovation in 271 prefecture level cities in China from 2013 to 2021. It found that (1) green credit and green technology innovation levels are both highest in the eastern region, followed by the central region, and exhibit spatial correlation characteristics. The main types of agglomeration are high–high and low–low agglomeration. (2) Green credit has a significant enhancing effect on green technology innovation in enterprises, and this conclusion still holds after robustness and endogeneity tests. (3) There is significant regional heterogeneity in the impact of green credit on green technology innovation, mainly concentrated in the central and western regions. (4) Green credit can significantly increase enterprise R&D investment and enhance the level of green technology innovation through this channel. Finally, some policy implications are provided to the decision-making departments that can be used for reference.

show abstract

Government environmental signals, government–Enterprise collusion and corporate pollution transfer

Li,

Wang,

Shen

et al. 2024

Energy Economics

View full text Add to dashboard Cite

Impacts of green credit policies and information asymmetry: From market perspective

Cited by 8 publications

References 47 publications

Green signals: The impact of environmental protection support policies on firms' green innovation

Green signals: The impact of environmental protection support policies on firms' green innovation

Can Green Credit Improve the Innovation of Enterprise Green Technology: Evidence from 271 Cities in China

Government environmental signals, government–Enterprise collusion and corporate pollution transfer

Contact Info

Product

Resources

About