| The report of the 19 th National Congress of the Communist Party of China proposed that we should accelerate green development,establish a market-oriented green technology innovation system,vigorously develop green finance,and expand energy conservation,environmental protection,clean production and clean energy industries.In recent years,with the continuous strengthening of the role of environmental regulation in China,green environmental protection has become an important consideration for investment and financing decisions of enterprises.In this general environment,it is inevitable for banks to accelerate the development of green finance and enterprises to increase green R&D investment.At present,China’s economy has experienced years of vigorous development,and its overall competitiveness has been significantly enhanced.However,the following contradictions between the national economy,social development and the ecological environment have become increasingly prominent,and more and more attention has been paid by the country,society and people.Environmental pollution has seriously restricted the sustainable development of China’s economy.The main objectives of this study are: First,how to promote enterprises to increase environmental research and development investment,promote environmental innovation,and constantly change the original development model of high pollution and high energy consumption through the implementation of green credit;Second,how to promote the self transformation of commercial banks through financial leverage,support the development of energy conservation and environmental protection of enterprises,and finally achieve a "win-win" situation between banks and society;Third,how to promote the role of the regulatory function and timely "rectify" the market.For example,through policies to stop the blind expansion of high pollution and eliminate production capacity,and provide more financial support for high pollution enterprises to carry out green technology innovation.For the sake of profitability,all commercial banks will actively participate only when the implementation of green credit can improve the level of bank operating performance;On the contrary,there will be a lack of momentum for development.Therefore,it is particularly necessary for this paper to study the relationship between the three to achieve the goals of government policy expectations and improve bank performance.This paper studies the impact of green credit,enterprise green technology innovation and bank performance,including theoretical and empirical research.The empirical part uses the green credit balance of 16 listed banks,introduces intermediary variables(the number of green practical patent applications of enterprises)and control variables(bank asset scale,deposit loan ratio,etc.)for quantitative analysis,so as to explore the impact of green credit on bank operating performance and test the intermediary effect of green technology innovation of enterprises.Through the research,we can draw the following conclusions: First,in the long run,green credit can effectively improve the bank’s operating performance structure and improve the level of operating performance.The introduction of green credit can effectively disperse risks and improve the ability of banks to resist risks.With the continuous improvement of China’s green economic policies,the continuous enhancement of industry supervision and the accelerating pace of bank transformation,the role of green credit on bank operating performance will become more significant.Second,the implementation of green credit can more effectively encourage SMEs to actively promote green innovation.The positive impact of green credit on green innovation of SMEs also becomes more significant with the increase of environmental regulation intensity.Third,the relationship between green credit and bank operating performance is affected by the positive effect of enterprise green technology innovation,that is,enterprise green technology innovation will drive the positive impact of green credit on the ability to improve bank operating performance,which is driven by the effect of green technology innovation,and ultimately indirectly promote the improvement of bank operating performance.The policy recommendations of this paper are as follows: First,give full play to the role of banks in market-oriented regulation and optimal allocation of resources.Commercial banks must recognize the important relationship between the development of green credit and short-term bank interests,and play the role of "the market is an invisible hand" in the market-oriented regulation and development,such as flexibly using interest rate preferences,credit conditions and other means to increase support for economic growth in "no immediate interest" areas such as environmental protection and ecology,so as to promote a virtuous cycle of capital and environment.Second,give play to the guiding role of government departments.By "the government is a tangible hand" to constrain and correct the development direction of the market,green credit will continue to advance towards the established goal under the guidance of the government and other departments.Including the government actively guiding enterprises to carry out green innovation research,actively guiding and creating a strong environment for enterprise green innovation research from the perspective of environmental policies,enterprise benefits,etc.,so that enterprises can inject more green research capital to achieve sustainable development of enterprises.Third,strengthen the supervision and guidance of the People’s Bank of China and other regulatory agencies on the development of green credit by banks.Guide banks to balance the relationship between social responsibility and operating efficiency,strengthen policy guidance on green credit,and achieve maximum benefits from banks,enterprises and the whole society.For example,appropriately expand the scale of punishment for environmental damage to enterprises,and strictly implement relevant preferential loan policies and punishment measures;Another example is to increase the monitoring and inspection of environmental and social risk management of banking institutions;Targeted environmental governance of heavily polluted enterprises should be reasonably subsidized to ensure the lowest environmental governance cost.Fourth,establish a long-term green credit mechanism for banks.Commercial banks should not only actively guide enterprises to vigorously develop green industries through technological innovation,but also fully measure the environmental and social risks brought by loans.For example,in addition to continuously innovating green financial products,banks also need to unify credit standards and systems for polluting enterprises,establish green sub branches in an exploratory manner,and form a demonstration effect. |
