财经理论与实践2026，Vol.47Issue(3)：28-35,8.DOI:10.16339/j.cnki.hdxbcjb.2026.03.004
绿色信贷政策如何影响重污染企业供应链韧性?
How Do Green Credit Policies Affect the Supply Chain Resilience of Heavily Polluting Enterprises?
摘要
Abstract
Based on the data of A-share listed companies from 2009 to 2022,this paper ex-plores the impact of green credit policies on the supply chain resilience of heavily polluting enter-prises from the perspective of financial resource allocation,environmental regulation and supply chain linkage.The study finds that green credit policies promote the role adjustment and ecologi-cal transformation of heavy polluting enterprises in the supply chain by strengthening financial constraints and increasing environmental uncertainty.This effect is even more pronounced in companies that have not yet disclosed their environmental protection concepts.The dual policy quasi-natural experiment indicates that the impact of green credit policies exhibits heterogeneity in terms of property rights nature and two dimensions of supply chain resilience.In the long run,green credit policies can optimize the supply chain structure,thereby stabilizing the upstream and downstream relationships of the supply chain.In view of this,it is necessary to build a differenti-ated and dynamic green credit support mechanism,implement the collaborative strategy of enter-prise risk control and green transformation,and improve the whole chain supervision system to a-chieve industrial ecological reshaping and stable economic and social development.关键词
绿色信贷政策/重污染企业/供应链韧性/融资约束/环境不确定性Key words
green credit policy/heavily polluting enterprise/the supply chain resilience/fi-nancial constraint/environmental uncertainty分类
管理科学引用本文复制引用
景奎,蒋恒燕,徐凤敏..绿色信贷政策如何影响重污染企业供应链韧性?[J].财经理论与实践,2026,47(3):28-35,8.基金项目
国家自然科学基金面上项目(12471297) （12471297）
国家社会科学基金项目(24XGL003) （24XGL003）
榆林市科技计划项目(2023-CXY-200) （2023-CXY-200）
