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TitleGreen finance pilot reform and corporate green innovation
Creator徐愛恩
Tsui, Stephanie;Wang, Huaiming;Du, Dongying;Tang, Xiaojian
Contributor會計系
Key Wordsgreen finance pilot reform; corporate green innovation; innovation incentive; corporate governance; quasi-natural experiment
Date2023-10
Date Issued2024-12-12
SummaryThis study investigates the impact of the green finance pilot reform on corporate green innovation using the formation of the China Green Finance Pilot Reform in 2017 as a quasi-natural experiment. It shows that the green finance pilot reform increases corporate green innovation. Furthermore, by highlighting the differences between green enterprises and heavily polluting enterprises, it also shows that the positive relationship between the green finance pilot reform and corporate green innovation is more pronounced in green enterprises than in heavily polluting enterprises. The mechanism analysis shows that the green finance pilot reform mainly affects corporate green innovation by easing financing constraints and reducing financing costs. The heterogeneity analysis indicates that the positive relationship between the green finance pilot reform and corporate green innovation is more pronounced in non-state-owned enterprises and large-scale enterprises. As a result, the effect of the green finance pilot reform on corporate green innovation gives rise to certain green innovation incentives. It is thus necessary to optimise the external corporate governance environment by promoting the green finance pilot reform and further offers practical implications for corporate green innovation decision-making.
RelationFrontiers in Environmental Science, Vol.11, pp.1-26
Typearticle
DOI https://doi.org/10.3389/fenvs.2023.1273564
dc.contributor 會計系
dc.creator (作者) 徐愛恩
dc.creator (作者) Tsui, Stephanie;Wang, Huaiming;Du, Dongying;Tang, Xiaojian
dc.date (日期) 2023-10
dc.date.accessioned 2024-12-12-
dc.date.available 2024-12-12-
dc.date.issued (上傳時間) 2024-12-12-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/154711-
dc.description.abstract (摘要) This study investigates the impact of the green finance pilot reform on corporate green innovation using the formation of the China Green Finance Pilot Reform in 2017 as a quasi-natural experiment. It shows that the green finance pilot reform increases corporate green innovation. Furthermore, by highlighting the differences between green enterprises and heavily polluting enterprises, it also shows that the positive relationship between the green finance pilot reform and corporate green innovation is more pronounced in green enterprises than in heavily polluting enterprises. The mechanism analysis shows that the green finance pilot reform mainly affects corporate green innovation by easing financing constraints and reducing financing costs. The heterogeneity analysis indicates that the positive relationship between the green finance pilot reform and corporate green innovation is more pronounced in non-state-owned enterprises and large-scale enterprises. As a result, the effect of the green finance pilot reform on corporate green innovation gives rise to certain green innovation incentives. It is thus necessary to optimise the external corporate governance environment by promoting the green finance pilot reform and further offers practical implications for corporate green innovation decision-making.
dc.format.extent 106 bytes-
dc.format.mimetype text/html-
dc.relation (關聯) Frontiers in Environmental Science, Vol.11, pp.1-26
dc.subject (關鍵詞) green finance pilot reform; corporate green innovation; innovation incentive; corporate governance; quasi-natural experiment
dc.title (題名) Green finance pilot reform and corporate green innovation
dc.type (資料類型) article
dc.identifier.doi (DOI) 10.3389/fenvs.2023.1273564
dc.doi.uri (DOI) https://doi.org/10.3389/fenvs.2023.1273564