Can the green credit policy stimulate green innovation of heavily polluting enterprises in China?

Xiong, Xingjiang; Masron, Tajul Ariffin; Gondo, Tutik Wiryanti

doi:10.3389/fenvs.2022.1076103

Cited by 5 publications

(4 citation statements)

References 48 publications

(60 reference statements)

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“…Although the above empirical results show that mixed ownership reform contributes to the improvement of enterprises' carbon performance, it cannot be ruled out that some other factors may interfere with the relationship between mixed ownership reform and carbon performance [42]. In 2011, the National Development and Reform Commission of China issued a Notice on Launching Pilot Carbon Emission Trading Programs, requiring Beijing, Shanghai, Chongqing, Tianjin, Guangdong, Shenzhen, Hubei, and other provinces and municipalities to launch pilot carbon emission trading programs.…”

Section: Eliminate Other Distractionsmentioning

confidence: 87%

Mixed Ownership Reform and Environmental Sustainable Development—Based on the Perspective of Carbon Performance

et al. 2023

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Mixed ownership reform has contributed greatly to China’s economic development; however, there is little literature on how mixed ownership reform affects carbon performance in the context of environmentally sustainable development. Therefore, this paper takes A-share industrial state-owned enterprises in Shanghai and Shenzhen from 2008 to 2020 as research samples to investigate the impact of mixed ownership reform on carbon performance through empirical tests. The results show that the mixed ownership reform of state-owned enterprises can improve the carbon performance of enterprises. The intermediary test shows that green innovation plays an intermediary role in the relationship between mixed ownership reform and carbon performance. Furthermore, compared with green management innovation, mixed ownership reform has a stronger promoting effect on green technology innovation, and green technology innovation has a greater impact on carbon performance. Heterogeneity analysis shows that in heavily polluted industries and competitive industries, mixed ownership reform of state-owned enterprises has a more significant role in improving carbon performance. Therefore, the mixed ownership reform of state-owned enterprises is of great significance for promoting environmental sustainable development. Overall, this study provides empirical evidence for the environmental sustainable development of state-owned enterprises in emerging markets.

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Section: Eliminate Other Distractionsmentioning

confidence: 87%

Mixed Ownership Reform and Environmental Sustainable Development—Based on the Perspective of Carbon Performance

et al. 2023

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“…Otherwise, it takes on a value of 0. The compilation of heavy-polluting firms is founded on the revised Guidelines on Industry Classification of Listed Firms by the China Securities Regulatory Commission in 2012, along with the List of Listed Firms for Environmental Verification Industry Classification in 2008 [35,58,59]. This encompasses sectors such as thermal power, steel, cement, electrolytic aluminum, coal, metallurgy, building materials, mining, chemicals, petrochemicals, pharmaceuticals, light, textiles, and leather (codes: B06, B07, B08, B09, B11, C17, C18, C19, C22, C25, C26, C27, C28, C29, C30, C31, C32, C33, D44.).…”

Section: Explanatory Variablementioning

confidence: 99%

How does China’s green credit policy affect the innovation of high-polluting enterprises? From the perspective of innovation quantity and quality

Bai,

Wu,

Zhu

et al. 2024

PLoS ONE

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Employing the “Green Credit Guidelines” implemented in 2012 as the basis for a quasi-natural experiment, this study applies the method of Difference-in-Differences(DID) to investigate the influence of the Green Credit Policy on both the quantity and quality of enterprise innovation. The outcomes of our analysis reveal that the policy has significantly boosted both the quantity and quality of innovation among enterprises identified as heavy polluters. It is noteworthy that the policy’s positive impact on innovation quantity surpasses its positive effect on innovation quality. This substantiates that the Green Credit Policy effectively generates incentivizing outcomes for innovation among the heavy polluters, thereby verifying Porter’s hypothesis within the domain of green credit in China. Furthermore, we find that the positive impact is more significant for enterprises with lower innovation capabilities, large-scale enterprises, state-owned enterprises, and those situated in both the Eastern and Western regions. Through these findings, this study illuminates a novel perspective on the interplay between the Green Credit Policy and enterprise innovation dynamics in China.

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“…Based on the background of heterogeneous industries, Shen [23] identified the optimal degree of industrial regulation in China through non-linear analysis of environmental regulation and efficiency.Li Ling and Tao Feng [24] found that in China's medium and low pollution industries, the impact of environmental regulation on green TFP and the impact of technological innovation on technological efficiency exhibit a U-shaped curve, and their speed of breaking through the U-shaped inflection point is faster than that of productivity and technological innovation. Bing et al [25] pointed out that different levels of environmental regulations have different effects on corporate green innovation.Tang et al [26] believe that compared to the other two types of environmental regulations, ER1, as the initial stage of green industry development, plays a much greater role in promoting innovation in the green industry. ER2 and ER3 experience stable growth during the high-income period of the economy,while ER1 serves as the foundation.…”

Section: Research On the Relationship Between Environmental Regulatio...mentioning

confidence: 99%

Environmental regulation effect on the different technology innovation-based the empirical analysis

Ma,

Tang

et al. 2024

PLoS ONE

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This article explores the impact mechanism of different types of environmental regulations on corporate green technology innovation (GTI). The research focuses on analyzing three types of environmental regulations: command based environmental regulation (ER1), market-oriented environmental regulation (ER2), and voluntary environmental regulation (ER3), and how they affect corporate GTI. This study selected enterprise GTI as the dependent variable and measured it by the number of applications for green invention patents and green utility model patents. The independent variables are the three types of environmental regulations mentioned above. According to data from Chinese A-share listed companies. Using benchmark regression models to analyze the impact of different environmental regulations on GTI, and constructing a moderating effect model to study the role of corporate R&D investment and government support in the process of environmental regulations affecting GTI. The results indicate that (1) ER1, ER2, and ER3 can all promote enterprise GTI, and the three environmental regulatory methods have a better synergistic effect. (2) R&D investment has a positive correlation with the relationship between ER2 and GTI, and a negative correlation with ER 3 and ER 1. (3) There are differences in the GTI performance of enterprises in different regions, ownership nature, factor density, and industry types under the influence of environmental regulations. (4) The impact of environmental regulatory policies on corporate GTI is mainly short-term. This study provides a new perspective on how environmental regulations affect corporate GTI, especially in the context of developing countries like China. The research findings emphasize the role of different types of environmental regulations in incentivizing corporate GTI, while also pointing out factors that governments need to consider when formulating environmental policies, such as regional differences and corporate characteristics, which are of great significance for promoting green development of enterprises and achieving broader sustainable development goals.

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Can the green credit policy stimulate green innovation of heavily polluting enterprises in China?

Cited by 5 publications

References 48 publications

Mixed Ownership Reform and Environmental Sustainable Development—Based on the Perspective of Carbon Performance

Mixed Ownership Reform and Environmental Sustainable Development—Based on the Perspective of Carbon Performance

How does China’s green credit policy affect the innovation of high-polluting enterprises? From the perspective of innovation quantity and quality

Environmental regulation effect on the different technology innovation-based the empirical analysis

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