Journal
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
Volume 28, Issue 46, Pages 65265-65277Publisher
SPRINGER HEIDELBERG
DOI: 10.1007/s11356-021-15217-2
Keywords
Green credit; Green innovation; Difference-in-Difference; Propensity score matching
Categories
Funding
- National Natural Science Foundation of China [71803033]
- Natural Science Foundation of Guangdong Province [2019A1515011581]
- Philosophy and Social Sciences Planning Project of Guangdong Province [GD20SQ12]
- National Social Science Fund of China [19ZDA079]
- Guangzhou Philosophy and Social Science Planning Project [2020GZYB42, 2020GZGJ158]
- Educational Science Planning Project of Guangdong Province [2020KZDZX1152]
Ask authors/readers for more resources
The study finds that the implementation of green credit policy significantly improves the green innovation performance of high-polluting and high-energy consuming enterprises, especially those that are state-owned and have weak market power. Additionally, the green credit policy has a positive impact on the increase of non-invention patents.
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 performance 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 performance of high-polluting and high-energy consuming enterprises, which indicates that the incentive effect of green credit policy on enterprises exceeds the constraint 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 green innovation performance of high-polluting and energy-intensive enterprises that are state-owned and have weak market power. Mechanism test shows that green credit policy can change the credit financing constraints and R&D investment allocation to affect the green innovation performance of high-polluting and energy-intensive enterprises.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available