How does China's green credit policy affect the green innovation of high polluting enterprises? The perspective of radical and incremental innovations

Zhang, Yuming; Li, Xiaolei; Xing, Chao

doi:10.1016/j.jclepro.2022.130387

Cited by 103 publications

(62 citation statements)

References 51 publications

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“…The regression coefficient of green finance (

) is significantly positive, indicating that green finance can effectively promote regional green technology innovation, consistent with the views of Yu et al [ 32 ], Zhang et al [ 53 ], and Hu et al [ 54 ]. As an important method of regional environmental governance, green finance can effectively curb polluting investment spending and force polluting enterprises to engage in green technology innovation activities by raising loan interest rates and lowering loan limits.…”

Section: Empirical Results and Analysissupporting

confidence: 85%

Whether Green Finance Can Effectively Moderate the Green Technology Innovation Effect of Heterogeneous Environmental Regulation

Fang

Shao

2022

IJERPH

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As an essential way to promote ecological civilization, green finance is attracting wide attention. However, whether green finance can effectivelysuccessfully regulate the green technology innovation effect of heterogeneous environmental regulations and boost green technology innovation in coordination with heterogeneous environmental regulations remains unclear. Based on the re-measurement of the green finance development index of various provinces and cities in China, this study uses the spatial Durbin model to test the above problems empirically. The results show that green finance and “market incentive” environmental regulations can promote regional green technology innovation, while “command and control” environmental regulations inhibit regional green technology innovation. Green finance plays a negative regulatory role in the mechanism of heterogeneous environmental regulations affecting green technology innovation. Green finance alleviates the negative impact of “command and control” environmental regulations on green technology innovation and weakens the positive impact of “market-incentive” environmental regulations on green technology innovation. In terms of spillover effects, green finance can effectively promote green technology innovation in neighboring regions, while heterogeneous environmental regulations have a crowding-out effect on green technology innovation in neighboring regions.

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“…The regression coefficient of green finance (

Section: Empirical Results and Analysissupporting

confidence: 85%

Whether Green Finance Can Effectively Moderate the Green Technology Innovation Effect of Heterogeneous Environmental Regulation

Fang

Shao

2022

IJERPH

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“…Many case studies show green investments help in the reduction of carbon emissions and protect the environment (Liu et al 2018 ; Chițimiea et al 2021 ). The researchers of Columbia University have examined the link between green investments and renewable energy and established that they were using different levels of sustainable development goals (Zhang et al 2022 ). Investments in green equity, carbon market tools, and green bonds help in promoting “green” and will lead to enhancing the sustainable development goals.…”

Section: Key Results and Findingsmentioning

confidence: 99%

Green supply chain management/green finance: a bibliometric analysis of the last twenty years by using the Scopus database

Fahim

Mahadi

2022

Environ Sci Pollut Res

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Mostly, the product manufacturer and activities related to transportation have a greater influence on the supply chain and the environment. Hence, the green investment in water, biodiversity protection, waste treatment, resources, and climate change alleviation help in enhancing industrial production. Thus, for the enhancement of green growth, the industries must adopt green financing by making investments in ecology, climate change, and carbon reduction. Despite having the greatest growth in green supply chain management, still, the implementations of greening the product and processes have not been seen properly in many industries. A bibliometric analysis was conducted through VOS viewer version 1.6.7. of last twenty years (2001–2021). A total of 2385 articles were retrieved from the Scopus database. The results revealed that China, India, Iran, and Taiwan have a vast collection of articles and have very strong international collaborations. The most cited authors were Sarkis, J., Zhu, Q., and Khan, S.A.R. The results also suggest that green supply chain management research was related to the field of engineering, environmental science, energy sciences, social sciences, and business management. Some new areas are discovered like green innovation, green information technology, green productivity, corporate environmental responsibility, green investments, green credit, and green credit policy. As evidenced from our bibliographic database search, it is observed that integrated work on green supply chain management and green finance is limited, and this makes this research work to be novel. This study is beneficial for credit managers and policymakers. Supplementary Information The online version contains supplementary material available at 10.1007/s11356-022-21764-z.

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“…Then, according to the existing literature studies, it takes a long time from a patent application to a granted patent, and the number of granted green patents that some scholars use to measure enterprise green innovation cannot reflect enterprises' current creativity (Amore and Bennedsen, 2016;Deng et al, 2021;Xia et al, 2021;Wu et al, 2022). Thus, our paper utilizes the number of green patent applications to measure enterprises' green innovation ability (Zhang et al, 2020;Shao et al, 2020). Meanwhile, referring to Zhang et al (2020), we choose to take the natural logarithm of the green patent application numbers plus one as the dependent variable, thus making the data distribution more consistent with normal distribution (Zhou et al, 2021).…”

Section: Dependent Variable: Enterprise Green Innovationmentioning

confidence: 99%

“…Thus, our paper utilizes the number of green patent applications to measure enterprises' green innovation ability (Zhang et al, 2020;Shao et al, 2020). Meanwhile, referring to Zhang et al (2020), we choose to take the natural logarithm of the green patent application numbers plus one as the dependent variable, thus making the data distribution more consistent with normal distribution (Zhou et al, 2021). In addition, we divide the number of green patent applications into green invention patents and green utility models in heterogeneity analysis to further explore the possible impact of deleveraging on different structures of green innovation.…”

Section: Dependent Variable: Enterprise Green Innovationmentioning

confidence: 99%

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Research on the Impact of Deleveraging Policy on Enterprise Green Innovation: An Empirical Study in China

Shen

2022

Front. Environ. Sci.

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By optimizing enterprises’ capital structure, the deleveraging policy has a close relationship with green innovation. Taking the Opinions on Actively and Steadily Reducing Enterprise Leverage issued by the State Council of China in 2016 as an exogenous shock and utilizing the panel date of listed manufacturing enterprises in China from 2010 to 2019, this paper constructs a DID model and conducts a series of robustness tests, which quantitatively confirm that the deleveraging policy can play a positive role in improving enterprise green innovation. Furthermore, heterogeneity analysis reveals that the deleveraging policy can promote the application of green invention patents to a greater extent and has a greater effect on green innovation in state-owned enterprises, large-scale enterprises, technology-intensive enterprises, and enterprises in financially developed regions. Ultimately, the mechanism test confirms that the deleveraging policy provides long-term funds for enterprise green innovation by promoting enterprise equity financing. And with the strengthening of shareholders’ supervision and management, it also effectively ensures the stable development of green innovation.

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How does China's green credit policy affect the green innovation of high polluting enterprises? The perspective of radical and incremental innovations

Cited by 103 publications

References 51 publications

Whether Green Finance Can Effectively Moderate the Green Technology Innovation Effect of Heterogeneous Environmental Regulation

Whether Green Finance Can Effectively Moderate the Green Technology Innovation Effect of Heterogeneous Environmental Regulation

Green supply chain management/green finance: a bibliometric analysis of the last twenty years by using the Scopus database

Research on the Impact of Deleveraging Policy on Enterprise Green Innovation: An Empirical Study in China

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