工业技术经济2025，Vol.44Issue(3)：67-77,11.DOI:10.3969/j.issn.1004-910X.2025.03.007
绿色信贷政策对重污染企业绿色创新的影响研究
The Impact of Green Credit Policy on Green Innovation Heavily Polluting Enterprises
摘要
Abstract
This paper selects data from Chinese A-share listed companies from 2008 to 2023 and uses the difference-in-differences model to investigate whether the green credit policy will have an incentive effect or a crowding-out effect on the green in-novation of heavily polluting enterprises.The study finds that the implementation of the green credit policy has promoted the green innovation of heavily polluting enterprises,and the green innovation induced by this policy is an incentive effect superimposed on existing innovation activities and has not crowded out other technological innovations.Mechanism analysis shows that the implemen-tation of the green credit policy can promote the green innovation of heavily polluting enterprises by strengthening the green cognition of senior executives.Heterogeneity analysis shows that the green innovation of heavily polluting enterprises is more obvious in the western regions,areas with strong environmental regulations,and highly competitive industries.This paper expands the research perspective on the impact of green credit policies on corporate green innovation and provides valuable policy inspiration for promoting the green transformation of the economy.关键词
绿色信贷政策/重污染企业/绿色创新/杠杆效应/挤出效应/上市公司/高管绿色认知/经济绿色转型Key words
green credit policy/heavily polluting enterprises/green innovation/incentive effect/crowding-out effect/listed companies/green cognition of senior executives/green transformation of the economy分类
管理科学引用本文复制引用
王仕琦,王永巧..绿色信贷政策对重污染企业绿色创新的影响研究[J].工业技术经济,2025,44(3):67-77,11.基金项目
国家自然科学基金面上项目"基于联合表征性的预期短缺建模研究"(项目编号:71571163). （项目编号:71571163）
