Make every dollar count: The impact of green credit regulation on corporate green investment efficiency

Tian, Jinfang; Sun, Siyang; Cao, Wei; Bu, Di; Xue, Rui

doi:10.1016/j.eneco.2024.107307

Cited by 16 publications

(1 citation statement)

References 123 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…At the same time, commercial banks utilize their advantages to effectively avoid operational risks [22], reduce non-performing loan ratios [23], increase profits, and promote green development. Some scholars have also paid attention to the various negative impacts that green credit may have on commercial banks, and emphasized that through product optimization, institutional design, business process reengineering, and institutional mechanism improvement, green credit can effectively play a role in promoting green development [24].…”

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

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

show abstract

Green credit policy, technological innovation, and corporate financial performance: Evidence from the energy industry

Dogah,

Wesseh,

Adomako

2024

Bus Strat Env

View full text Add to dashboard Cite

Despite extensive research on the impact of green policies on firm growth and performance, there has been little effort dedicated to understanding the effect of green credit policies on firms.In this article, we fill this gap by investigating the effect of green credit policy on financial performance. Additionally, we examine the moderating role of technological innovation in this relationship. Using data from listed companies in the energy sector, our findings reveal that green credit policies negatively affect financial performance. However, this negative impact is ameliorated at a high level of technological innovation (e.g., high‐technology and green patents). Specifically, the mechanism analysis reveals enterprises with high‐tech invention patents convey positive prospects to investors, whereas green patents signal firms' green innovation capabilities, thereby attracting external financing. Moreover, our findings revealed that environmental performance attenuates the negative effect of green credit policy on financial performance.Our heterogeneity analysis reveals that invention patents significantly benefit the financial performance of state‐owned and large enterprises in the traditional energy sector, whereas green patents have a positive effect in the new energy sector, predominantly for non‐state‐owned and smaller companies. These findings offer both theoretical and policy implications for sustainability research and practice.

show abstract

Can supply chain digitalization open the way to sustainable development? Evidence from corporate ESG performance

Tian,

Guo

2024

Corp Soc Responsibility Env

View full text Add to dashboard Cite

In the digital economy era, the supply chain digitalization has become a crucial factor driving sustainable development. Based on the Chinese A‐share listed companies from 2011 to 2021, we use supply chain innovation and application pilots as a quasi‐natural experiment to empirically examine the impact of supply chain digitalization on corporate environmental, social, and governance (ESG) performance via a double machine learning (DML) model. The results indicate that supply chain digitalization significantly enhances corporate ESG performance, this conclusion remains valid after various robustness tests. Mechanism analysis shows that supply chain digitalization improves corporate ESG performance by enhancing internal operational efficiency, increasing interfirm trade credit, and enhancing external supervision. Finally, the promotion effect of supply chain digitalization on ESG performance is mainly present in corporates with stronger cooperative culture, stronger innovation capabilities, party organization, and those operating in heavily polluting industries.

show abstract

Make every dollar count: The impact of green credit regulation on corporate green investment efficiency

Cited by 16 publications

References 123 publications

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

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

Green credit policy, technological innovation, and corporate financial performance: Evidence from the energy industry

Can supply chain digitalization open the way to sustainable development? Evidence from corporate ESG performance

Contact Info

Product

Resources

About