ArticleEnvironmental science and pollution research international2022
Can green credit increase firm value? Evidence from Chinese listed new energy companies.
Article in Environmental science and pollution research international, 2022. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 5 papers.
What it found
Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.
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
Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.
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Who cites it
5 citing papers in PubMed.
- The impact of green credit legislation on business financing: Insights from Chinese polluting firms.Heliyon · 2024Article
- Article
- The Effect of Green Finance on the Ecological and Environmental Quality of the Yangtze River Economic Belt.International journal of environmental research and public health · 2022Article
- The Impact of Green Credit on the Green Innovation Level of Heavy-Polluting Enterprises-Evidence from China.International journal of environmental research and public health · 2022Article
- Does green credit promote green sustainable development in regional economies?-Empirical evidence from 280 cities in China.PloS one · 2022Article
Corrections and comments
PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.
Authors and funding
3 authors.
Funding
No grant is acknowledged in the PubMed record.
Abstract
Green credit plays a crucial role in reducing energy consumption and environmental degradation in China. Using data on China's new energy listed companies from 2007 to 2018, this study explores the impact of green credit on new energy firms' value, as well as the mediating effects of financing constraints and external supervision on the relationship between green credit and new energy companies' economic benefits. Our results suggest that green credit significantly improved new energy firms' value, and this positive impact can last over the long term. The above result is robust to using alternative measures, replacement of fixed effects, exclusion of abnormal samples, and placebo test. Additional tests reveal that green credit improves new energy companies' value by alleviating financing constraints and strengthening external supervision. Finally, green credit's value-enhancement effect is heterogeneous, depending on corporate property rights, business life cycle, implementation of Green Credit Guideline policy, and the firms' geographical location. Our conclusions suggest that government should not only pay attention to the continuity of green credit commitment but also the mitigation of financing constraints and improvement of external supervision for new energy companies. Moreover, heterogeneous factors should be considered to formulate and calibrate related policy rather than a one-size-fits-all policy.
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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.