The Impact of Green Credit on the Green Innovation Level of Heavy-Polluting Enterprises-Evidence from China.

Content Provider	Europe PMC
Author	Zhang, Zhifeng Duan, Hongyan Shan, Shuangshuang Liu, Qingzhi Geng, Wenhui
Editor	González Lezcano, Roberto Alonso
Copyright Year	2022
Abstract	This article uses the "Green Credit Guidelines" promulgated in 2012 as an example to construct a quasi-natural experiment and uses the double difference method to test the impact of the implementation of the "Green Credit Guidelines" on the green innovation activities of heavy-polluting enterprises. The study found that, in comparison to non-heavy polluting enterprises, the implementation of green credit policies inhibited the green innovation of all heavy-polluting enterprises. In the analysis of heterogeneity, this restraint effect did not differ significantly due to the nature of property rights and the company's size. The mechanism test showed that green credit policy limits the efficiency of business investment and increases the cost of financing business debt. Eliminating corporate credit financing, particularly long-term borrowing, negatively impacts the green innovation behavior of listed companies.
ISSN	16617827
Journal	International Journal of Environmental Research and Public Health [Int J Environ Res Public Health]
Volume Number	19
DOI	10.3390/ijerph19020650
PubMed Central reference number	PMC8776069
Issue Number	2
PubMed reference number	35055471
e-ISSN	16604601
Language	English
Publisher	Molecular Diversity Preservation International (MDPI)
Publisher Date	2022-01-06
Access Restriction	Open
Subject Keyword	green credit heavy pollution enterprise green innovation investment efficiency financing constraint difference-in-difference model
Content Type	Text
Resource Type	Article
Subject	Health, Toxicology and Mutagenesis Pollution Public Health, Environmental and Occupational Health