| Title |
The Impact of Green Credit Policy on Technological Innovation of Firms in Pollution-Intensive Industries: Evidence from China |
| ID_Doc |
35660 |
| Authors |
Ling, SX; Han, GS; An, D; Hunter, WC; Li, H |
| Title |
The Impact of Green Credit Policy on Technological Innovation of Firms in Pollution-Intensive Industries: Evidence from China |
| Year |
2020 |
| Published |
Sustainability, 12, 11 |
| DOI |
10.3390/su12114493 |
| Abstract |
How to promote technological innovation with green finance policy has been a focal topic in the global green finance field in recent years. Using the difference-in-difference approach model, this paper investigated the impact of the Green Credit Guidance (GCG) policy implemented by the Chinese government in 2012 on the technological innovation of firms in pollution-intensive industries. The empirical results indicated that GCG had a negative impact, not only on research and development (R&D) input, but also on innovation output, and the impacts on firms with different property rights and different scales were consistent. Further research showed that GCG reduced the long-term debt of firms in pollution-intensive industries, and then significantly decreased the R&D input and innovation output; that is, long-term debt is a mediator in GCG and technology innovation. The results revealed that GCG fails to promote the technological innovation of firms in pollution-intensive industries. This paper suggests that China's green credit policy should pay more attention to the technological innovation, transformation, and upgrading of firms in pollution-intensive industries. |
| Author Keywords |
green credit policy; firms in pollution-intensive industries; research and development input; technological innovation; long term debt |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Science Citation Index Expanded (SCI-EXPANDED); Social Science Citation Index (SSCI) |
| EID |
WOS:000543391800156 |
| WoS Category |
Green & Sustainable Science & Technology; Environmental Sciences; Environmental Studies |
| Research Area |
Science & Technology - Other Topics; Environmental Sciences & Ecology |
| PDF |
https://www.mdpi.com/2071-1050/12/11/4493/pdf?version=1592131769
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