重庆交通大学学报（社会科学版）2024，Vol.24Issue(1)：67-78,12.
绿色金融政策对制造业上市公司的激励效应分析
Analysis of Incentive Effect of Green Finance Policy on Listed Manufacturing On Perspective of Information Disclosure
摘要
Abstract
The introduction to green finance policy aims to integrate environmental considerations into investment and financing activities and realize the green allocation of funds.Then,after the implementation of green finance policy,does it play a role in stimulating the green transformation of enterprises?This paper regards the 2016 G20 Hangzhou Summit as the starting point for the comprehensive implementation of green finance policies in China.From the perspective of information disclosure related to the transparency of green finance market,this paper selects A-share listed manufacturing companies as samples to carry out em-pirical analysis on their publicly disclosed information.The results show that the quality of both financial and non-financial infor-mation disclosed by the sample enterprises decreases after the full implementation of the policy.Through the internal mechanism test,it is found that the reason for the lower quality of information disclosure is that enterprises choose to cater to policy prefer-ences in order to obtain credit resources,so as to cope with the strict financing constraints under the green finance policy.Ac-cording to the analysis results,the paper points out that the regulators need to use flexible policies to further improve the relevant performance indicators and measurement tools;enterprises need to find the internal power of green transformation,try cross-in-dustry cooperation and multi-technology path combination;financial and intermediary institutions need to continue to innovate green financial products and services,and establish a scientific,standardized and operational management system.Only with the joint efforts of all parties can enterprises be truly encouraged to embark on the road of green transformation development.关键词
绿色金融政策/信息披露质量/融资约束/灵活施策/激励Key words
green finance policy/information disclosure quality/financing constraints/flexible implementation of policies/in-centives分类
管理科学引用本文复制引用
张鲜华,崔雨晴..绿色金融政策对制造业上市公司的激励效应分析[J].重庆交通大学学报（社会科学版）,2024,24(1):67-78,12.基金项目
国家社会科学基金项目"企业参与乡村振兴的行动逻辑及调适策略研究:基于企业社会责任的视角"(20BGL130) （20BGL130）
兰州财经大学研究生科研项目"董责险对上市公司治理影响的研究:基于控股股东股权质押行为视角"(KJ-202210) （KJ-202210）
