ArticleEnvironmental management2020
Green Credit, Financial Constraint, and Capital Investment: Evidence from China's Energy-intensive Enterprises.
Article in Environmental management, 2020. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 11 papers.
What it found
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
The trial behind it
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Who cites it
11 citing papers in PubMed.
- How does digital transformation affect corporate sustainability performance? Evidence from listed energy companies in China.PloS one · 2025Article
- Article
- An evaluation of the impact of China's green credit policy on different pathways using a CGE model.Environmental science and pollution research international · 2024Article
- Article
- Exploring the Mechanism of the Impact of Green Finance and Digital Economy on China's Green Total Factor Productivity.International journal of environmental research and public health · 2022Article
- The Impact Mechanism of Green Credit Policy on the Sustainability Performance of Heavily Polluting Enterprises-Based on the Perspectives of Technological Innovation Level and Credit Resource Allocation.International journal of environmental research and public health · 2022Article
- The Impact of the Green Finance Reform and Innovation Pilot Zone on the Green Innovation-Evidence from China.International journal of environmental research and public health · 2022Article
- Long-term and short-term effects of green strategy on corporate performance: evidence from Chinese listed companies.Environmental science and pollution research international · 2022Article
- Can green credit increase firm value? Evidence from Chinese listed new energy companies.Environmental science and pollution research international · 2022Article
- Energy intensity determinants based on structure-oriented cointegration by embedding a knowledge box in a time series model: evidence from Iran.Environmental science and pollution research international · 2022Article
- An Estimation of the Effect of Green Financial Policies and Constraints on Agriculture Investment: Evidences of Sustainable Development Achievement in Northwest China.Frontiers in public health · 2022Article
Corrections and comments
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Authors and funding
4 authors.
Funding
Abstract
The green credit policy is an important green financial tool that can achieve the win-win scenario with economic development and environmental protection through the reasonable allocation of credit resources. Using the green credit guidelines (GCGs) in China as a quasi-natural experiment, this study explored the impacts of the green credit policy on the capital investment of energy-intensive enterprises in a difference-in-differences framework and established the mediation effect model to analyze the mechanisms. The empirical results showed that the capital investment of energy-intensive enterprises was significantly reduced after the promulgation of the GCGs. Considering the intermediary paths along with the green credit policy on energy-intensive investment through financial constraints, the total bank loans and long-term bank loans played partial intermediary roles, whereas the short-term bank loans as mediator variable showed no significant intermediary effect. The findings of this study illustrated that the green credit policy has been well implemented and promoted in China. It inhibited energy-intensive investment, which is of great significance to improving the efficiency of resource utilization and promoting green and low-carbon development.
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Registered trials
Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.