Bank Credit,Enterprise Financing Cost And Green Technology Innovation

In recent years,environment,ecology and green development have gradually become key areas of concern,and ecological environmental protection has also been promoted as a national key cause.The concept of economic development has changed from pursuing development speed to focusing on high quality development.As an important carrier of the real economy,especially the manufacturing enterprises as the pillar of the national economy,how to realize their own green development will become an important factor in the future green development of the economy.Shandong province as a traditional industrial province,manufacturing province,manufacturing enterprises to carry out green transformation,green technology innovation is the general trend.What factors influence enterprise green technology innovation is worth studying deeply.Based on the panel data of 62 Shandong manufacturing listed enterprises from 2010 to2018,this paper empirically tests whether bank credit and enterprise debt financing cost affect enterprise green technology innovation and what effect it has.This paper is divided into 7 chapters for research.Chapter 1 is an introduction,which systematically explains the research background,research significance,research methods,article structure and the innovation points and deficiencies of this paper;Chapter 2 defines the concept of green technology innovation,makes it clear that this paper uses dichotomy,divides green technology innovation into green product innovation and green process innovation to measure,and reviews the related literature of bank credit,enterprise financing cost influence technology innovation;Chapter 3analyzes the present situation of manufacturing industry development in Shandong province,and analyzes the present situation of manufacturing industry development and investment and financing scale in Shandong province,especially the situation of green technology innovation in manufacturing industry in Shandong province;Chapter 4 puts forward three hypotheses through relevant theoretical analysis;Chapter 5 is the research design and data source,takes the relevant data of 62 Shandong manufacturing listed enterprises from 2010 to 2018 as the analysis object,determines the explained variables,explanatory variables and control variables of this paper,constructs the panel data model,and further analysis the collated sample enterprises and data;Chapter 6 is an empirical test and analysis of results,using the panel fixed effect model to test and analyze the regression results to test the proposal research hypothesis.The empiricalresults show that:(1)the increase of bank credit will promote enterprises green technological innovation;(2)the increase of enterprise debt financing costs will restrain green technological innovation;(3)the increase of bank credit will further promote enterprises green technology innovation with high debt financing costs;Chapter 7 is the research conclusions and policy recommendations,through the empirical results summarized and sorted out,to Shandong manufacturing listed enterprises green technology innovation problems put forward corresponding policy recommendations,the shortcomings of this paper and the future research prospects.