| Title |
How do green bonds affect green technology innovation? Firm evidence from China |
| ID_Doc |
30110 |
| Authors |
Lin, T; Du, MY; Ren, SY |
| Title |
How do green bonds affect green technology innovation? Firm evidence from China |
| Year |
2022 |
| Published |
Green Finance, 4, 4 |
| DOI |
10.3934/GF.2022024 |
| Abstract |
As an emerging financial tool, green bonds can broaden the financing channels of enterprises and stimulate the green innovation of enterprises. Based on the A-share data of Chinese listed companies from 2012 to 2020, this paper analyzes the impact of green bonds on green technology innovation by using a method of Difference in Difference with Propensity Score Matching (PSM-DID). We found that green bonds can significantly improve enterprise green technology innovation. Its positive impact is attributed to increases in media attention and R&D capital investment and a reduction in financing constraints. Green bonds play a greater role in the green innovation of strong financial constraints enterprises, non-SOEs and large-scale enterprises. Our findings have important reference significance for the improvement of the resource allocation role of green bonds and achievement of sustainable growth. |
| Author Keywords |
green bonds; green innovation; financing constraint; technology investment; China |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Emerging Sources Citation Index (ESCI) |
| EID |
WOS:000894087400001 |
| WoS Category |
Business, Finance; Green & Sustainable Science & Technology |
| Research Area |
Business & Economics; Science & Technology - Other Topics |
| PDF |
https://doi.org/10.3934/gf.2022024
|