| Since the 20 th century,China’s scientific and technological progress has not only promoted economic growth,but also brought a series of environmental problems.Therefore,the concept of green development has gradually gained people’s attention.As one of the main bodies to promote green development,energy-saving and environmental protection enterprises are very important to thoroughly implement the concept of sustainable development.In recent years,our government has issued a series of policies to support the development of energy-saving and environmental protection industries,and green credit policy is one of them.Therefore,it is of great theoretical and practical significance to study the impact of green credit policy on innovation performance of energy-saving and environmental protection enterprises.This study combs the literature and theoretical basis of green credit and enterprise performance,and analyzes the existing problems combined with the current situation of green credit supporting energy-saving and environmental protection enterprises;Analyze the mechanism of green credit acting on innovation performance of energy-saving and environmental protection enterprises;According to the previous analysis,the research hypothesis of this paper is further put forward,and the panel data of 97 energy-saving and environmental protection listed enterprises are used for empirical analysis,so as to put forward countermeasures and suggestions to promote the development of green credit for energy-saving and environmental protection enterprises in China.The research results of this paper show that: first,green credit improves the innovation performance of energy-saving and environmental protection enterprises;Second,the impact of green credit on the innovation performance of energy-saving and environmental protection enterprises has a certain degree of lag;Third,green credit has the greatest impact on the innovation performance of energy-saving enterprises;The impact of innovation performance of state-owned enterprises is greater than that of non-state-owned enterprises.In order to improve the green credit policy to promote the development of energy-saving and environmental protection enterprises,the government should improve the restraint and incentive mechanism,establish a green credit information disclosure platform,and build a bank-enterprise cooperation and innovation platform;Enterprises should improve the standardization and timeliness of enterprise information disclosure,improve the ability of technological innovation and optimize the efficiency of capital use;Commercial banks should provide diversified green credit products,set up green loan fast track and improve green credit standard system. |
