财经理论与实践2025，Vol.46Issue(3)：10-17,8.DOI:10.16339/j.cnki.hdxbcjb.2025.03.002
绿色金融改革创新试验区政策与绿色资本跨区域流动
Green Finance Reform and Innovation Pilot Zone Policy and Cross-Regional Flow of Green Capital
摘要
Abstract
Based on the data of cross-regional investments made by A-share listed companies from 2014 to 2022,this study examines the impact of green finance pilot policies on the cross-re-gional flow of green capital.The findings indicate that green finance pilot policies significantly promote the cross-regional flow of green capital,primarily through the optimization of credit re-source allocation and the reduction of institutional transaction costs.Heterogeneity tests show that this promotional effect is more pronounced for larger companies,companies making out-of-town investments within the same province,companies with richer investment experience,as well as cities with higher levels of green finance development,better green innovation atmosphere,and superior ecological environment quality.In light of these findings,it is recommended to im-prove policy promotion and system construction,strengthen classified guidance and support for enterprises,advance the coordinated development of regional green finance,and perfect institu-tional and environmental development.关键词
绿色金融/绿色资本跨区域流动/绿色企业异地投资Key words
green finance/cross-regional flow of green capital/cross-regional investment of green firms分类
管理科学引用本文复制引用
王雪,许文婷,鞠方..绿色金融改革创新试验区政策与绿色资本跨区域流动[J].财经理论与实践,2025,46(3):10-17,8.基金项目
国家社会科学基金重点项目(23AJL013) （23AJL013）
