The Impact Of Bank Green Gredit On The Environmental Governance Of High Pollution Enterprises

With the rapid development of economy,the problem of environmental pollution is becoming more and more prominent in our country.As the main source of funds for high pollution enterprises,the implementation of the green credit policy of the bank is to control the capital release of the high pollution enterprises and curb their blind expansion.However,due to the existence of many constraints,the bank’s green credit policy may not achieve the expected implementation effect.Therefore,it is of great practical significance to explore the implementation effect and existing problems of green credit policy of Banks on environmental governance of high polluting enterprises.This paper explores the influence of bank green credit on environmental control of high pollution enterprises from two aspects: theory and demonstration.Theoretical analysis,build the Banks and high pollution enterprise evolutionary game model,analyse the behaviour of Banks and polluting enterprises in their respective characteristics and the interests of the relationship between them,discuss green credit to promote the effectiveness of high pollution enterprise environment and the existing problems,and by means of system dynamics simulation method to verify the dynamic effects of the green credit;In the aspect of empirical analysis,with the help of relevant data of A share listed companies,the Difference-in-difference Method is adopted to empirically study the implementation effect of green credit in promoting environmental governance of high pollution enterprises and the existing problems in the implementation process.At the same time,with the help of corporate financial indicators,this paper analyzes whether green credit can improve the business performance of high pollution enterprises.The following main onclusions are drawn :(1)For the full sample data,in the face of the constraints of green credit financing by Banks,the high pollution enterprises reduce their production scale and increase their investment in environmental protection for environmental governance.(2)When the cost of environmental governance is low,green credit from Banks can promote environmental governance of high polluting enterprises;When the cost of environmental treatment is high,the green credit of the bank cannot promote the environmental treatment of the high polluting enterprises.(3)When bank credit is not available,if high pollution enterprises with environmental treatment are more likely to obtain financing from other channels,while high pollution enterprises without environmental treatment are more difficult to obtain financing from other channels,high pollution enterprises are more willing to carry out environmental treatment.(4)In regions with high environmental regulation,green credit policy cannot significantly promote environmental governance of high polluting enterprises,while in regions with low environmental regulation intensity,the promulgation of green credit will significantly promote environmental governance of high-polluting enterprises and become an important supplement to environmental regulation.(5)Except for state-owned enterprises,the green credit policy cannot significantly promote the environmental treatment of nonstate-owned high pollution enterprises.(6)Except the western region,the green credit policy cannot significantly promote the environmental treatment of the high pollution enterprises in the central and eastern regions.(7)In the face of the constraints of green credit financing,high pollution enterprises eliminate backward production capacity,reduce output and improve quality.Although this reduces the operating capacity of enterprises in the short term,in the long run,it enhances the profitability of unit assets and the ability to repay debts,thus enhancing the competitiveness of enterprises.The conclusions enrich the existing studies on the implementation effect of green credit and environmental governance of high pollution enterprises,and provide theoretical reference and targeted Suggestions for the government to improve green credit policies and promote environmental governance of high pollution enterprises.