Green credit policy and corporate access to bank loans in China: The role of environmental disclosure and green innovation

Xing, Chao; Zhang, Yuming; Tripe, David

doi:10.1016/j.irfa.2021.101838

Cited by 176 publications

(64 citation statements)

References 75 publications

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“…The reduction of pollution level will further alleviate haze pollution and ultimately improve the efficiency of urban green economy. In addition, how to reduce pollutant emissions while ensuring economic benefits has become the core of green development of enterprises, and the pursuit of clean production technology and sustainable development technology has also become the common pursuit of enterprises and the government (Xing et al, 2021). Therefore, information disclosure will force enterprises and the government to spend more on scientific and technological innovation, forcing enterprises to adopt more green production technology.…”

Section: Research Hypothesismentioning

confidence: 99%

Can Environmental Information Disclosure Improve Urban Green Economic Efficiency? New Evidence From the Mediating Effects Model

Lin

2022

Front. Environ. Sci.

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Environmental information disclosure is one of the important ways to realize urban sustainable development. This study explores the transmission mechanism between environmental information disclosure and urban green economic efficiency (UGEE) and solves the “black box” system between them. In this method, first, the urban green economic efficiency is calculated using the data envelopment analysis model with undesirable output. Second, the panel data model and the mediating effects model are employed to test the impact of environmental information disclosure on urban green economic efficiency and the possible mediating variables. The main conclusions of this study are as follows: 1) Environmental information disclosure significantly improves urban green economic efficiency, and reducing industrial pollutant emission and improving technological innovation are the significant transmission mechanisms. (2) There is a U-shaped curve relationship between environmental information disclosure and urban green economic efficiency and environmental information disclosure and technological innovation. On the contrary, there is an inverted U-shaped curve relationship between environmental information disclosure and industrial pollutant emission. 3) Environmental information disclosure has a greater sustainability effect in industrial cities. The conclusion shows that environmental information disclosure can improve the efficiency of urban green economy by improving the ability of urban technological innovation and reducing the emission of industrial pollutants. Environmental information disclosure plays a role of “restraining first and then promoting” to sustainable development. This research provides a reference for how to lessen information asymmetry and reduce negative externalities in the formulation of environmental regulatory policies.

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Section: Research Hypothesismentioning

confidence: 99%

Can Environmental Information Disclosure Improve Urban Green Economic Efficiency? New Evidence From the Mediating Effects Model

Lin

2022

Front. Environ. Sci.

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“…The existing literature includes a significant amount of research on the motivation of corporate technological innovation. Focusing on the external influencing factors of corporate technological innovation, such as financial policy, industrial policy and industry characteristics [ 2 , 3 , 4 ], and internal influencing factors, such as corporate governance structure, managers’ shareholding ratio, executive incentive, corporation size, and nature of equity [ 5 , 6 , 7 ], a great deal of results have been achieved. However, most of the existing literature has not considered the risks faced by corporations and environmental uncertainty.…”

Section: Introductionmentioning

confidence: 99%

The Impact of Environmental Uncertainty on Corporate Innovation: Empirical Evidence from an Emerging Economy

Chen

Shu

Wang

et al. 2021

IJERPH

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The paper analyzes the effect of environmental uncertainty on corporate technological innovation from the perspective of an innovation value chain under the institutional background of China. This paper not only discusses the intermediary effect of agency problems on environmental uncertainty and corporate technological innovation but also deeply explores the influence of information transparency, government subsidies, and other mechanisms to alleviate agency problems on environmental uncertainty and corporate technological innovation. We use the data of listed companies in China from 2008 to 2019 as the research sample, and the results show that, in general, environmental uncertainty has a negative effect on both input and output of technological innovation, and the negative effect can last for two years. Further research shows that the agency problem has an intermediary effect on the environmental uncertainty and corporate technology innovation, and the environmental uncertainty aggravates the agency problem, which hinders the input and output of corporate technology innovation. As an important mechanism to alleviate the agency problems, information transparency and government subsidies can effectively alleviate the agency conflict, thus reducing the inhibition of environmental uncertainty on the input and output of technological innovation. Our findings contribute to the discussion of driving factors for technological innovation in the context of China’s system. Our results provide useful insights into the link between environmental uncertainty and corporate innovation for economic academics and practitioners alike.

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“…GTI cannot develop without financial support, and green innovation by companies is also conductive to obtaining loans [28]. Although listed companies can carry out green innovation through debt financing and equity financing [29], it is difficult for most SMEs to obtain traditional financial support due to the lack of guarantees and collateral and banks' risk-aversion to green technologies and projects [30].…”

Section: The Current State Of Financing For Green Technology Innovationmentioning

confidence: 99%

Research on the Path of Policy Financing Guarantee to Promote SMEs’ Green Technology Innovation

Tingting

Zhao

2022

Mathematics

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In the process of policy financing guaranteeing help to SMEs to make innovations in green technologies, multiple parties continue to play strategic games for their interests. Evolutionary game theory is a practical tool for analyzing multi-agent strategies, which can help us to explore how policy financing guarantees help to SMEs to achieve effective credit enhancement. This paper constructs a four-party evolutionary game model among SMEs, banks, guarantee agencies, and the government, and obtains four evolutionary stable strategies by analyzing various players’ replicator dynamics. In addition, we carry out numerical simulations on the key parameters affecting the stability of the game system. The findings suggest that keeping the fixed risk-ratio between guarantee agencies and banks constant reduces the government’s financial burden and strengthens the re-guarantee system’s construction at the initial stage of SME financing, which can indirectly increase the enthusiasm for cooperation between banks and guarantee agencies. The interest subsidy policy is more effective in promoting SMEs’ compliance and bank–guarantee cooperation in the short term. Meanwhile, the government should increase the supervision of defaulting SMEs and cooperate with financial institutions to improve the credit system for SMEs.

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Green credit policy and corporate access to bank loans in China: The role of environmental disclosure and green innovation

Cited by 176 publications

References 75 publications

Can Environmental Information Disclosure Improve Urban Green Economic Efficiency? New Evidence From the Mediating Effects Model

Can Environmental Information Disclosure Improve Urban Green Economic Efficiency? New Evidence From the Mediating Effects Model

The Impact of Environmental Uncertainty on Corporate Innovation: Empirical Evidence from an Emerging Economy

Research on the Path of Policy Financing Guarantee to Promote SMEs’ Green Technology Innovation

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