This article uses the “Green Credit Guidelines” issued in 2012 as a quasi-natural experiment, using the statistics of A-share listed companies from 2008 to 2017, using the PSM-DID model to examine the effect and mechanism of green credit policies on the investment efficiency of heavily polluting companies, and taking into consideration the heterogeneous influence of the financial ecological environment on the relationship between the two. The research indicates that, after the Green Credit Guidelines were promulgated, the investment efficiency of heavy-polluting companies has been slightly improved compared with non-heavy-polluting companies and that the impact is more obvious in regions with better financial ecological environment. The research conclusions confirm the beneficial effects of the Green Credit Guidelines policy on the prudent investment of companies that cause serious pollution to the environment and improve investment efficiency, a provision of empirical evidence for financial leverage to drive the green economy transformation.
In this paper, we examine China’s policy environment from the perspective of policy sustainability. Through our use of the CiteSpace and NVivo software, the literature on the policy environment is visualized using a knowledge graph analysis and a content analysis of highly cited papers. The analysis shows that: the number of published papers on “policy environment” is on the rise, and the research prospect is broad. There is a lack of communication and cooperation between domestic authors and a close relationship between international authors. The main research countries included the USA, Switzerland, Finland, Ireland, and Austria, etc. Domestic research focuses on vehicles for high-quality economic and social development, while international research focuses on theoretical model discussion. The domestic optimization path focuses on the transformation from “Sending blood” (“ShuXieShi”) to “Making blood” (“ZaoXieShi”), while the international research focuses on the main line of “public health and environmental protection”. Domestic research focuses on fostering a sound business environment, while international research focuses on the public, political and professional aspects of health and medical policy environment. On the whole, in the future, we should improve the adaptability of the policy environment, optimize the policy implementation environment, and establish the interaction mechanism of policy environment optimization to achieve policy optimization.
In the digital age, digital resources are naturally sustainable, and they have become the basic technologies and platforms by which to maintain the sustainable development of the social economy. At a time when global epidemic prevention and control are becoming increasingly dynamic, digital empowerment has become a basic tool by which to promote sustainable social and economic development. In terms of digital empowerment, grassroots digital empowerment has become the most critical and urgent link to strengthen. In this study, a literature analysis using CiteSpace and NVivo software shows that the research prospects of grassroots digital governance are broad, but there is a lack of communication and cooperation between the research subjects, and a cooperative network of close and benign interaction has not been formed. There are many hot topics in the research, mainly focusing on five aspects: digitalization, grassroots governance, digital governance, digital technology, and digital countryside. The theme of these papers is changing to digital empowerment, technology empowerment, and “digital intelligence governance”. These characteristics and problems correspond to the practice of digital governance at the grassroots level in China. Therefore, in the theory and practice of Chinese grassroots digital governance, we must adhere to the problem-oriented principle and take “problem-driven” as the basic logic of grassroots digital governance. At the same time, it is necessary to consider the complexity of China’s grassroots communities and the stages of governance technology, adhere to the principles of integrated development and collaborative innovation, and take “mixed governance” as the main logic of grassroots digital governance. Generally speaking, we should realize optimization in the innovation of grassroots digital governance from three aspects, namely, strengthening the integration of grassroots digital systems, improving the ability to solve the problems of digital governance, and advancing the transformation of grassroots digital governance with incremental governance logic.
In the digital era, digital technology enables political, economic and social fields. However, while the digital divide is pervasive due to the influence of population, geography, the economy and other factors, blindly pushing digital change often leads to the further expansion of the risks of social inequality. This paper constructed a three-dimensional analytical framework of digital gap-bridging policies from the perspective of policy objectives, policy tools and policy effectiveness. Based on this framework, this paper used the content analysis method to conduct a quantitative analysis of 81 digital gap-bridging policies published in China and selected the PMC index model for policy evaluation. The result shows that the policy goal of bridging the digital divide in China mainly focuses on bridging the material access gap and the technology gap, while inadequate attention was paid to the attitude gap and the use gap; in terms of policy tools, there exists an unbalanced situation regarding supply tools, environment and demand tools, with the first one being emphasized more than the others; there is still policy “fatigue” regarding weak feedback and less incentive, though the internal consistency level of the policy is good and the policy structure is reasonable. Therefore, we should optimize policy objectives and policy tools to bridge the digital divide. We should not only consider whether there is “or not” on the equipment and whether there is “or not” on the technology, but also consider whether we want to “or not” on the attitude and feel “or not” on the use; we should not only “give” unilaterally through supply-oriented policies but also “cooperate” with each other through demand-oriented and environment-oriented tools to release the maximum potential of digital empowerment.
CiteSpace was used to visualize the knowledge ecology of the green finance research literature in CNKI and WOS, and NVivo software was used to root the code analysis of the current green finance policies in China. From the analysis of the research hotspots, both in China and internationally, great importance is attached to the research on green finance, and the research on green financialization has broad prospects. The core group of authors on green finance research in China has taken shape, whereas the core group of authors of green finance research in the rest of the world has not yet taken shape. There is a lack of close cooperation and a relatively low level of communication among important domestic green finance research institutions, and a certain scale of cooperation network has been formed among influential international institutions. The major countries for influential international green finance research are Singapore, France, Switzerland, Canada and Saudi Arabia, and the international influence of China’s green finance needs to be improved. Both domestic and foreign countries attach great importance to the balance between economic growth and the low-carbon green transition. China attaches more importance to macroeconomic development and strategic transition, but internationally, the trend is toward microcorporate green performance, policy optimization and market innovation. The research focus of green finance has achieved in three stages of evolution, namely, green industry in the early stage, green services in the middle stage and green strategy in the near future. International green finance research focuses on climate change, market players, government performance, social responsibility sharing, etc. In particular, reducing the cost of green development is the focus of international green finance. The domestic focus is on climate risk, carbon neutrality, carbon peak, low-carbon transition, carbon reduction, and green transition themes. Internationally, the focus is on financial performance, decisions, green finance, credit, drivers, quality, socially responsible investment and other topics. Considering the practical implementation of green finance in China, the governance logic of China’s green finance policy consists of five main categories: policy belief, policy objective, policy tool, policy feedback and policy cycle. In the future, the development and improvement of China’s green finance policy should achieve breakthroughs in the following aspects: first, guiding the main body of green finance policy to firmly establish policy beliefs; second, improving the clarity of green finance policy objectives; third, enhancing the overall effectiveness of the governance of green financial policy instruments; fourth, strengthening the green finance incentive policy feedback system construction; and fifth, improving the quality of green finance policy cycles.
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