Green credit, renewable energy investment and green economy development: Empirical analysis based on 150 listed companies of China

He, Ling‐Yun; Zhang, Lihong; Zhong, Zhong; Wang, Deqing; Wang, Feng

doi:10.1016/j.jclepro.2018.10.119

Cited by 417 publications

(217 citation statements)

References 7 publications

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“…To overcome pressure from the accountability system of relevant departments, not merely Chinese enterprises, the enterprises around the world not only make traditional financial reports, but also disclose their non-financial information to the stakeholders by improving the disclosure transparency of ESG information in the social responsibility report [23]. This behavior can be explained by the signal theory [24].…”

Section: Esg Information Disclosure and Firm Valuementioning

confidence: 99%

The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure

2020

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Few studies have been conducted on whether the coexistence of green innovation and corporate social responsibility (CSR) has a favorable interaction effect on firm value. This interaction effect is of great significance for enterprises balancing resource allocation between two factors in the future. Meanwhile, information disclosure can reflect the efforts of enterprises in taking on CSR. Therefore, taking China's listed companies as an example, this paper studies the interaction effect of CSR after being divided into the three different dimensions of environment, society, and governance (ESG) and green innovation on firm value. The quantile regression method can reflect the impact of CSR and green innovation on the firm value of different levels. The study finds that:(1) green innovation can promote the improvement of medium-and high-level firm value; (2) only the disclosure of environmental and social information can have a positive impact on firm value; (3) the interaction effect between green innovation and social disclosure on firm value is a substitution effect, which will gradually weaken with the increase of firm value. This paper proposes that relevant departments should guide green funds into enterprises with capital constraints to alleviate the issue of fund crowding into CSR and green innovation.

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Section: Esg Information Disclosure and Firm Valuementioning

confidence: 99%

The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure

2020

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“…Some scholars have also analyzed the effect of the performance of social responsibility on the competitiveness of the bank. He et al (2019) [43] examined the nonlinear relationship between renewable energy investment and green economy development from the perspective of green credit. Gazzola et al (2019) [44] showed that combining policy and intelligence into the blueprint for environmental protection was more conducive to achieving sustainable development concepts, thereby promoting sustainable development decisions.…”

Section: About the Influence Path Of Green Credit On The Bank's Compementioning

confidence: 99%

Evaluation of the Competitiveness of China’s Commercial Banks Based on the G-CAMELS Evaluation System

2019

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On the basis of the original camel rating system, this study added the green indicator and formed the G-CAMELS evaluation system (An improved rating system based on the CAMELS rating system to evaluate the business operation of financial institutions more comprehensively.) to comprehensively evaluate the competitiveness of commercial banks. It followed China’s current requirements for the sustainable development of commercial banks. In this paper, factor analysis, entropy methods, and dynamic evaluation models are used to obtain the ranking of competitiveness. In addition, according to the same steps as above, the comprehensive ranking based on the CAMELS evaluation system (A comprehensive rating system which is standardized, institutionalized and indexed for business operations of commercial banks and other financial institutions.) was obtained. The two ranking systems were compared. It is found that with the entropy weight method, in the G-CAMELS system, the weight of the green index is quite large, so it magnifies the impact of the financial industry on the environment. Compared with the original CAMELS system, the newly formed system will increase the ranking of state-owned banks and there is no significant change in the ranking of joint-stock banks. In order to improve the competitiveness of banks, state-owned banks should innovate their banking business and continue to implement the green credit policy; joint-stock banks should continue to seize the opportunity of green credit and expand profitability while paying attention to safety. In addition, the government could consider relaxing green credit standards for city commercial banks to ease pressure on banks.

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“…There are some barriers to establishing green growth situations such as powerful actors that have economic and political benefits, weak intervention to break down the association of powerful actors, and the risk of green investors which is greater than their benefits 23,24 . Therefore, more budget for controlling environmental pollution, industrial adjustment , low fossil fuel consumption and pollution, and improvements in the efficiency of resources consumption are beneficial for achieving green economy development 25,26 …”

Section: Introductionmentioning

confidence: 99%

A CO₂ emissions assessment of the green economy in Iran

Solaymani

2020

Greenhouse Gases

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This study aims to provide an assessment of total and sectoral CO2 emissions of Iran using a macroeconomic climate analysis. It uses two quantitative approaches (i.e., energy–economy–environment indicators and econometric analysis) that complement each other. According to the latest accessible data (1971–2016), evidence shows that, first, the change in Iran's total primary energy supply can significantly explain the variation of CO2 emissions in Iran, while energy intensity and CO2 intensity cannot significantly explain its variability. Second, CO2 emissions in Iran are increasing rapidly and the country is not moving toward the green economy situations. Third, the increase in energy intensity is mostly related to significant increases in energy consumption rather than increases in economic activity. This evidence shows that Iran's CO2 intensity highly depends on the consumption of fossil fuels. Fourth, the econometric estimates suggest that CO2 emissions, in comparison with other examined variables, change significantly in response to changes in per capita GDP, energy intensity, and carbon intensity. Fifth, the main contributors to industrial CO2 emissions are industrial per capita GDP and energy and carbon intensities, while in the transport sectors, the main contributors are the number of vehicles, transport energy intensity, and carbon intensity. Sixth, further decomposition analysis shows the positive impact of per capita GDP and the negative impacts of energy structure and energy efficiency on total CO2 emissions in Iran. © 2020 Society of Chemical Industry and John Wiley & Sons, Ltd.

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Green credit, renewable energy investment and green economy development: Empirical analysis based on 150 listed companies of China

Cited by 417 publications

References 7 publications

The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure

The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure

Evaluation of the Competitiveness of China’s Commercial Banks Based on the G-CAMELS Evaluation System

A CO₂ emissions assessment of the green economy in Iran

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Green credit, renewable energy investment and green economy development: Empirical analysis based on 150 listed companies of China

Cited by 417 publications

References 7 publications

The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure

The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure

Evaluation of the Competitiveness of China’s Commercial Banks Based on the G-CAMELS Evaluation System

A CO2 emissions assessment of the green economy in Iran

Contact Info

Product

Resources

About

A CO₂ emissions assessment of the green economy in Iran