Green Credit Policy and Enterprise Strategic Transformation: Empirical Test of Heavy Pollution Industry

Fenglin Duan

2022

Abstract

The implementation of the ‘green credit guidelines’ is an important measure to promote the green and low-carbon development of China’s economy. Under the background of big data economy and digital management, how to better play the role of green credit policy and promote the green transformation of enterprises is an important topic to be studied and solved urgently. This paper takes the implementation of green credit policy as a quasi natural experiment, selects China’s A-share listed companies from 2010 to 2018 as the research sample, and empirically tests the impact of green credit policy on enterprise strategy and its mechanism by constructing PSM-DID model. It is found that the implementation of green credit policy has significantly improved the strategic incentive progress of heavy polluting enterprises. After a series of robustness tests, the conclusion is still valid. The intermediary effect test results show that financing constraints play a significant intermediary role in the promotion of green credit to the progress of enterprise strategy. The research of this paper provides a certain theoretical basis and policy enlightenment for the strategic transformation of heavy polluting enterprises and the adjustment of green credit policy.

Paper Citation

in Harvard Style

Duan F. (2022). Green Credit Policy and Enterprise Strategic Transformation: Empirical Test of Heavy Pollution Industry. In Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM, ISBN 978-989-758-593-7, pages 262-274. DOI: 10.5220/0011173600003440

in Bibtex Style

@conference{bdedm22,
author={Fenglin Duan},
title={Green Credit Policy and Enterprise Strategic Transformation: Empirical Test of Heavy Pollution Industry},
booktitle={Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,},
year={2022},
pages={262-274},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011173600003440},
isbn={978-989-758-593-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,
TI - Green Credit Policy and Enterprise Strategic Transformation: Empirical Test of Heavy Pollution Industry
SN - 978-989-758-593-7
AU - Duan F.
PY - 2022
SP - 262
EP - 274
DO - 10.5220/0011173600003440