Scholarlink

<p>Adopting a green credit policy (GCP) to guide the allocation of resources for promoting green innovation in enterprises has become a broad consensus. However, research on the relationship between GCP and enterprise low-carbon technology innovation (LCTI) is relatively scarce. To bridge this gap, this study evaluates this relationship by adopting a difference-in-differences model. The results show that GCP inspires enterprise LCTI. Notably, GCP increases only its quantity without necessarily enhancing quality. Heterogeneity analysis reveals that this effect is more pronounced in enterprises that disclose environmental information and have a higher proportion of executives with a financial background. Mechanism analysis indicates that relaxing financing constraints and reducing green agency costs are the key ways. In addition, this study further finds that environmental regulation and R&amp;D investment positively moderate this effect. This research provides valuable insights for developing countries in building green financial systems and market-oriented LCTI frameworks.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Does green credit policy inspire enterprise low-carbon technology innovation?

  • 期刊论文

  • 发表日期：

    2025年6月3日

查看全文
  • Tengfei Pang,
  • Shuai Yan,
  • Zhonglu Liu

摘要

Adopting a green credit policy (GCP) to guide the allocation of resources for promoting green innovation in enterprises has become a broad consensus. However, research on the relationship between GCP and enterprise low-carbon technology innovation (LCTI) is relatively scarce. To bridge this gap, this study evaluates this relationship by adopting a difference-in-differences model. The results show that GCP inspires enterprise LCTI. Notably, GCP increases only its quantity without necessarily enhancing quality. Heterogeneity analysis reveals that this effect is more pronounced in enterprises that disclose environmental information and have a higher proportion of executives with a financial background. Mechanism analysis indicates that relaxing financing constraints and reducing green agency costs are the key ways. In addition, this study further finds that environmental regulation and R&D investment positively moderate this effect. This research provides valuable insights for developing countries in building green financial systems and market-oriented LCTI frameworks.