{"title":"走向绿色绿色信贷政策如何促进中国企业的绿色转型","authors":"Weijie Tan, Edward Hengzhou Yan, Wai Sze Yip","doi":"10.1111/jifm.12218","DOIUrl":null,"url":null,"abstract":"<p>Our study explores the relationship between Green Credit Policy (GCP), bank competition, and corporate green transformation. Previous research mainly focused on the impact of GCP on corporate green practices from a single dimension, with limited attention to bank competition and the overall process of corporate green transformation. Using machine learning methods and Baidu Maps API, we innovatively construct indicators for the green transformation of Chinese A-share-listed companies and bank competition from 2007 to 2020. We treat China's Green Credit Guidelines as a quasi-experiment and find that GCP has a positive impact on corporate green transformation, with bank competition strengthening this effect. Notably, the influence of state-owned banks and foreign banks is more pronounced. Mechanism analysis indicates that alleviating financing constraints and promoting green behavior are critical mechanisms through which GCP affects green transformation. Furthermore, this effect is more pronounced in state-owned enterprises, companies with high environmental transparency, regulated industries, and regions with stronger environmental regulations.</p>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 1","pages":"38-67"},"PeriodicalIF":9.4000,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Go green: How does Green Credit Policy promote corporate green transformation in China\",\"authors\":\"Weijie Tan, Edward Hengzhou Yan, Wai Sze Yip\",\"doi\":\"10.1111/jifm.12218\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>Our study explores the relationship between Green Credit Policy (GCP), bank competition, and corporate green transformation. Previous research mainly focused on the impact of GCP on corporate green practices from a single dimension, with limited attention to bank competition and the overall process of corporate green transformation. Using machine learning methods and Baidu Maps API, we innovatively construct indicators for the green transformation of Chinese A-share-listed companies and bank competition from 2007 to 2020. We treat China's Green Credit Guidelines as a quasi-experiment and find that GCP has a positive impact on corporate green transformation, with bank competition strengthening this effect. Notably, the influence of state-owned banks and foreign banks is more pronounced. Mechanism analysis indicates that alleviating financing constraints and promoting green behavior are critical mechanisms through which GCP affects green transformation. Furthermore, this effect is more pronounced in state-owned enterprises, companies with high environmental transparency, regulated industries, and regions with stronger environmental regulations.</p>\",\"PeriodicalId\":46659,\"journal\":{\"name\":\"Journal of International Financial Management & Accounting\",\"volume\":\"36 1\",\"pages\":\"38-67\"},\"PeriodicalIF\":9.4000,\"publicationDate\":\"2024-07-17\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of International Financial Management & Accounting\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/jifm.12218\",\"RegionNum\":3,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Financial Management & Accounting","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/jifm.12218","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
摘要
我们的研究探讨了绿色信贷政策（GCP）、银行竞争和企业绿色转型之间的关系。以往的研究主要从单一维度探讨绿色信贷政策对企业绿色实践的影响，对银行竞争和企业绿色转型的整体过程关注有限。利用机器学习方法和百度地图 API，我们创新性地构建了 2007-2020 年中国 A 股上市公司绿色转型和银行竞争指标。我们将中国的《绿色信贷指引》视为一个准实验，发现《绿色信贷指引》对企业绿色转型有积极影响，而银行竞争强化了这一影响。值得注意的是，国有银行和外资银行的影响更为明显。机制分析表明，缓解融资约束和促进绿色行为是 GCP 影响绿色转型的关键机制。此外，这种效应在国有企业、环境透明度高的企业、受管制的行业和环境法规较强的地区更为明显。
Go green: How does Green Credit Policy promote corporate green transformation in China
Our study explores the relationship between Green Credit Policy (GCP), bank competition, and corporate green transformation. Previous research mainly focused on the impact of GCP on corporate green practices from a single dimension, with limited attention to bank competition and the overall process of corporate green transformation. Using machine learning methods and Baidu Maps API, we innovatively construct indicators for the green transformation of Chinese A-share-listed companies and bank competition from 2007 to 2020. We treat China's Green Credit Guidelines as a quasi-experiment and find that GCP has a positive impact on corporate green transformation, with bank competition strengthening this effect. Notably, the influence of state-owned banks and foreign banks is more pronounced. Mechanism analysis indicates that alleviating financing constraints and promoting green behavior are critical mechanisms through which GCP affects green transformation. Furthermore, this effect is more pronounced in state-owned enterprises, companies with high environmental transparency, regulated industries, and regions with stronger environmental regulations.
期刊介绍：
The Journal of International Financial Management & Accounting publishes original research dealing with international aspects of financial management and reporting, banking and financial services, auditing and taxation. Providing a forum for the interaction of ideas from both academics and practitioners, the JIFMA keeps you up-to-date with new developments and emerging trends.
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