Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 57 , 05 January 2024
Open
Access | Article
Research Advanced on the Influence of Green Credit Policy on Companies: A Case Study of Industrial Structure, Firm Performance, and Response Measures
* Author to whom correspondence should be addressed.
Abstract
Nowadays, the traditional economic development mode and development power have caused a series of problems such as waste of factor input, serious environmental pollution, and low economic efficiency. Green finance is thus sprouting. With the rapid economic development, more and more companies at home and abroad have begun to use Green Credit Policy (GCP) to promote sustainable development. Based on official publication databases, we delve into a deep analysis of the impact of the Green Credit Policy on companies, focusing on their industrial structure, firm performance, and response measures. Through empirical analysis and theoretical discussions, we reveal that the Green Credit Policy positively influences industrial upgrading, enhances firms’ environmental performance, and stimulates strategic responses to Green Credit Policy. Additionally, empirical data substantiates the notion that GCP exerts a "detrimental impact" on companies exhibiting subpar environmental practices. These results underscore the importance of policies geared towards sustainability in fostering a more eco-friendly and robust economy.
Keywords
Green Credit, firm performance, industrial structure, green innovation, green supply chain
References
1. Wen, H., Lee, C.C. and Zhou, F. (2021) Green Credit Policy, Credit Allocation Efficiency and Upgrade of Energy-Intensive Enterprises. Energy Economics, 94, 105099.
2. Lv, C., Fan, J. and Lee, C.C. (2023) Can Green Credit Policies Improve Corporate Green Production Efficiency? Journal of Cleaner Production, 397, 136573.
3. Qiu, Y., Wang, H. and Wu, J. (2023) Impact of Industrial Structure Upgrading on Green Innovation: Evidence from Chinese Cities. Environmental Science and Pollution Research, 30, 3887–3900.
4. Gu, R., Li, C., Li, D., Yang, Y. and Gu, S. (2022) The Impact of Rationalization and Upgrading of Industrial Structure on Carbon Emissions in the Beijing-Tianjin-Hebei Urban Agglomeration. International Journal of Environmental Research and Public Health, 19, 7997.
5. Petersen, M.A. and Schoeman, I. (2008) Modeling of Banking Profit Via Return-on-Assets and Return-on-Equity. Proceedings of the World Congress on Engineering, 2, 12–37.
6. Wolfe, J. and Sauaia, A.C.A. (2003) The Tobin Q as a Company Performance Indicator. Developments in Business Simulation and Experiential Learning: Proceedings of the Annual ABSEL Conference, 30.
7. Wang, Y., Lei, X., Zhao, D., Long, R. and Wu, M. (2021) The Dual Impacts of Green Credit on Economy and Environment: Evidence from China. Sustainability, 13, 4574.
8. Lu, Y. (2016) Industrial Integration: A Literature Review. Journal of Industrial Integration and Management, 1, 1650007.
9. Zhu, X. (2022) Does Green Credit Promote Industrial Upgrading? — Analysis of Mediating Effects Based on Technological Innovation. Environmental Science and Pollution Research, 29, 41577–41589.
10. Yin, W., Zhu, Z., Kirkulak-Uludag, B. and Zhu, Y. (2021) The Determinants of Green Credit and Its Impact on the Performance of Chinese Banks. Journal of Cleaner Production, 286, 124991.
11. Cui, X., Wang, P., Sensoy, A., Nguyen, D.K. and Pan, Y. (2022) Green Credit Policy and Corporate Productivity: Evidence from a Quasi-Natural Experiment in China. Technological Forecasting and Social Change, 177, 121516.
12. Jiang, Y., Qin, S. and Xu, Y. (2022) Impact of Green Credit Policy on Sustainability Performance of High-Pollution Enterprises. Environmental Science and Pollution Research, 29, 79199–79213.
13. Ding, X., Jing, R., Wu, K., Petrovskaya, M.V., Li, Z., Steblyanskaya, A., Ye, L., Wang, X. and Makarov, V.M. (2022) The Impact Mechanism of Green Credit Policy on the Sustainability Performance of Heavily Polluting Enterprises—Based on the Perspectives of Technological Innovation Level and Credit Resource Allocation. International Journal of Environmental Research and Public Health, 19, 14518.
14. Xi, B., Wang, Y. and Yang, M. (2022) Green Credit, Green Reputation, and Corporate Financial Performance: Evidence from China. Environmental Science and Pollution Research, 29, 2401–2419.
15. Ling, X., Yan, L. and Dai, D. (2022) Green Credit Policy and Investment Decisions: Evidence from China. Sustainability, 14, 7088.
16. Wang, E., Liu, X., Wu, J. and Cai, D. (2019) Green Credit, Debt Maturity, and Corporate Investment—Evidence from China. Sustainability, 11, 583.
17. Chen, Z., Zhang, Y., Wang, H., Ouyang, X. and Xie, Y. (2022) Can Green Credit Policy Promote Low-Carbon Technology Innovation? Journal of cleaner production, 359, 132061.
18. Zhang, Y., Li, X. and Xing, C. (2022) How Does China’s Green Credit Policy Affect the Green Innovation of High Polluting Enterprises? The Perspective of Radical and Incremental Innovations. Journal of Cleaner Production, 336, 130387.
19. An, S., Li, B., Song, D. and Chen, X. (2021) Green Credit Financing Versus Trade Credit Financing in a Supply Chain with Carbon Emission Limits. European Journal of Operational Research, 292, 125–142.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-205-3
- ISBN (Online)
- 978-1-83558-206-0
- Published Date
- 05 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/57/20230522
- Copyright
- 05 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited