The impact of green finance on companies’ overcapacity: Evidence from green financial reform and innovation policy in China

Wang, Hai; Chen, Hui; Ye, Shuai; Yin, Junya

doi:10.1016/j.eap.2024.05.016

Economic Analysis and Policy

2024

DOI: 10.1016/j.eap.2024.05.016

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The impact of green finance on companies’ overcapacity: Evidence from green financial reform and innovation policy in China

Hai Wang,

Hui Chen,

Shuai Ye

et al.

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Cited by 2 publications

References 62 publications

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Can money help to achieve the Paris agreement goal? the missing piece of the puzzle: How green monetary policy can bridge the emissions gap

Zia,

Yang,

Masood

et al. 2025

Economic Analysis and Policy

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Can money help to achieve the Paris agreement goal? the missing piece of the puzzle: How green monetary policy can bridge the emissions gap

Zia,

Yang,

Masood

et al. 2025

Economic Analysis and Policy

View full text Add to dashboard Cite

Green Finance, Economic Policy Uncertainty, and Corporate ESG Performance

Liu,

Cui,

Zhao

et al. 2024

Sustainability

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Given the increasing prevalence of global warming and the frequent occurrence of extreme weather events and other challenges, countries are increasingly recognizing the importance of green and sustainable development. This paper uses the multi-period double difference and PSM-DID method to test the impact of green finance policies on the ESG performance of Chinese listed companies. Research has shown that implementing pilot zone policies can improve corporate ESG performance, especially for enterprises with low business reputations, fierce industry competition, severe information asymmetry, and state-owned attributes. The GFPZ policy drives companies to improve their ESG performance through two paths: promoting environmental innovation and strengthening restrictions on corporate financing. In addition, the increase in economic policy uncertainty hinders the positive impact of GFPZ policies on improving corporate ESG performance. This study enriches the existing micro-research on green finance policies from the perspective of enterprises. It provides empirical evidence and research insights to support the further improvement of pilot zone policies, the promotion of green sustainable development, and the improvement of corporate ESG performance.

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The impact of green finance on companies’ overcapacity: Evidence from green financial reform and innovation policy in China

Cited by 2 publications

References 62 publications

Can money help to achieve the Paris agreement goal? the missing piece of the puzzle: How green monetary policy can bridge the emissions gap

Can money help to achieve the Paris agreement goal? the missing piece of the puzzle: How green monetary policy can bridge the emissions gap

Green Finance, Economic Policy Uncertainty, and Corporate ESG Performance

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