| Title |
Green finance policy and digital transformation of heavily polluting firms: Evidence from China |
| ID_Doc |
62269 |
| Authors |
Li, SB; Wang, Q |
| Title |
Green finance policy and digital transformation of heavily polluting firms: Evidence from China |
| Year |
2023 |
| Published |
|
| DOI |
10.1016/j.frl.2023.103876 |
| Abstract |
In this paper, we use the "Green Credit Performance Evaluation of Banking Depository Financial Institutions" implemented by the People's Bank of China as a quasi-natural experiment and a difference-in-differences (DID) approach to examine the impact of green finance policy on the digital transformation of heavily polluting firms. The results show that firms' digital transformation is effectively driven by green finance policy. The policy effect is more pronounced among low financing-constrained firms, state-owned firms, and firms with high analyst coverage. Furthermore, green finance policy influences the digital transformation of firms primarily by increasing digital outcomes and guiding management's strategic direction. |
| Author Keywords |
Central bank; Green finance policy; Digital transformation; Heavily polluting firms |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Social Science Citation Index (SSCI) |
| EID |
WOS:001028697400001 |
| WoS Category |
Business, Finance |
| Research Area |
Business & Economics |
| PDF |
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