How does China's green credit policy affect the green innovation of high polluting enterprises? The perspective of radical and incremental innovations

2022 ◽  
pp. 130387
Author(s):  
Yuming Zhang ◽  
Xiaolei Li ◽  
Chao Xing
Keyword(s):  
Credit Policy ◽  
Green Innovation

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

2022 ◽  
Vol 19 (2) ◽  
pp. 650
Author(s):  
Zhifeng Zhang ◽  
Hongyan Duan ◽  
Shuangshuang Shan ◽  
Qingzhi Liu ◽  
Wenhui Geng
Keyword(s):  
Natural Experiment ◽  
Double Difference ◽  
Credit Policy ◽  
Green Innovation ◽  
Innovation Activities ◽  
Corporate Credit ◽  
Credit Financing ◽  
The Cost ◽  
The Impact

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.

Green credit policy, government behavior and green innovation quality of enterprises

2021 ◽  
pp. 129834
Author(s):  
He-tong Wang ◽  
Shao-zhou Qi ◽  
Chao-bo Zhou ◽  
Jing-jie Zhou ◽  
Xiao-yan Huang
Keyword(s):  
Credit Policy ◽  
Green Innovation ◽  
Government Behavior ◽  
Innovation Quality

scholarly journals Can Green Credit Policy Promote Green Innovation Efficiency of Heavily Polluted Industries? Empirical Evidence from the China’s Industry

2021 ◽  
Author(s):  
Su Li ◽  
Feng Tan Da ◽  
Wei Wei Cui ◽  
Jun Zhao
Keyword(s):  
Economic Development ◽  
Panel Data ◽  
Natural Experiment ◽  
Policy Impact ◽  
Credit Policy ◽  
Green Innovation ◽  
Ecological Civilization ◽  
Heterogeneity Test ◽  
Financing Cost ◽  
D Investment

Green credit policy as an important tool to guide China's sustainable economic development, how to effectively play the function of capital deployment and improve the efficiency of industrial green innovation is an important issue facing the construction of ecological civilization. This paper uses China's Green Credit Guideline introduced in 2012 as a quasi-natural experiment , based on relevant panel data of industries from 2007 to 2018, uses the Super-SBM model including non-expected output to measure the green innovation efficiency of 35 industries in China, and constructs the PSM-DID model to explore how green credit policy impact on the green innovation efficiency of heavily polluted industries, the results show that : green credit policy significantly contributes to green innovation efficiency of heavily polluted industries with a lag. Further study finds that green credit policy pushes heavily polluted industries to improve green innovation efficiency by increasing financing cost and R&D investment; meanwhile, the heterogeneity test shows that the higher the state-owned share of industry, the greater the promoted effect of green credit policy on green innovation efficiency of heavily polluted industries. Finally, in order to accelerate the implementation of green credit policy and promote the green innovation efficiency of heavily polluted industries, relevant countermeasures are proposed from three aspects: banks, enterprises and government.

scholarly journals Does Green Credit Affect the Green Innovation Performance of High-Polluting and Energy-Intensive Enterprises? Evidence from A Quasi-Natural Experiment

2021 ◽  
Author(s):  
Sheng Liu ◽  
RONGXIN XU ◽  
Xiuying Chen
Keyword(s):  
Natural Experiment ◽  
Technology Innovation ◽  
High Energy ◽  
Green Technology ◽  
Theoretical Research ◽  
Financial Policy ◽  
Credit Policy ◽  
Green Innovation ◽  
Industrial Enterprises ◽  
Innovation Output

Abstract Green credit policy is a practical exploration to guide green development through the allocation of financial resources, but there is a gap in the theoretical research on how green financial policy affects enterprise green technology innovation. Taking the green credit policy in 2012 as a quasi-natural experiment, this paper applies the methods of Propensity Score Matching and Difference in Difference (PSM-DID) to investigate the relationship between green credit policy and enterprises' green technology innovation behavior based on Chinese industrial enterprises database and green patent database. The results show that the implementation of "green credit guidelines" policy has significantly improved the green innovation output of high-polluting and high-energy consuming enterprises, which indicates that the incentive effect of green credit policy on enterprises exceeds the inhibition effect and leads to Porter effect. Moreover, the green credit policy has significantly increased the number of non-invention patents rather than invention patents. In addition, the green credit policy has a more significant effect on the innovation output of heavily polluting enterprises in state-owned and weak market power enterprises. Mechanism test shows that green credit policy mainly affects the green innovation output of heavy polluting enterprises by guiding the loan financing cost and R&D investment allocation.

Does a carbon emissions trading scheme spur urban green innovation? Evidence from a quasi-natural experiment in China

2021 ◽  
pp. 0958305X2110153
Author(s):  
Chao Li ◽  
Xiangyou Li ◽  
Deyong Song ◽  
Meng Tian
Keyword(s):  
Energy Conservation ◽  
Alternative Energy ◽  
Positive Impact ◽  
Emission Trading ◽  
Green Innovation ◽  
Urban Green ◽  
Carbon Emissions Trading ◽  
The Government ◽  
Trading Scheme ◽  
The Impact

Based on the panel data of 277 cities between 2003 and 2017 and a unique city-level dataset of green patent applications, this study employs the difference-in-differences (DID) method to evaluate the effect of China’s carbon emission trading scheme (ETS) pilots on urban green innovation. The findings indicate that China’s ETS pilots have a positive impact on urban green innovation, and that impact is more significant for municipalities than for prefecture-level cities. Furthermore, the impact on different categories of urban green innovation is heterogeneous. More specifically, China’s ETS pilots have significantly spurred urban green innovation that is closely related to energy conservation and emission reduction, including alternative energy production, transportation, energy conservation and so forth. Moreover, the facilitating effect of China’s ETS pilots on urban green innovation suffers from a lagging effect, which began to show a significant positive effect in 2016. Overall, this paper identifies the effect of China’s ETS pilots on urban green innovation, and suggests that the government should consider the heterogeneity of urban green innovation when designing national ETS policies.

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