摘要
绿色金融改革创新试验区是实现我国经济可持续发展,探索发展绿色金融可复制推广机制体制经验的重要实践探索。基于此,利用2014—2020年中国A股上市工业企业数据探究试验区试点政策对工业企业绿色创新的影响效果及内在逻辑机理。研究发现:试验区的设立显著促进了试验区内工业企业的绿色创新,该结论在经过系列稳健性检验后依然成立;异质性分析发现,试验区的设立对促进环保、非国有以及大规模工业企业绿色创新的影响效果更加显著;机制分析发现,试验区的设立通过提高试验区绿色信贷规模,缓解工业企业融资约束,促进了环保工业企业的绿色创新。研究从工业企业绿色创新的角度验证试验区设立的微观效果,为实现我国经济的高质量可持续发展提供理论借鉴和政策参考。
The green finance reform and innovation pilot zone is an important practical exploration to realize the sustainable development of my country’s economy and explore the experience of developing a replicable promotion mechanism and system for green finance.Based on this,this paper uses the data of China’s A-share listed industrial enterprises from 2014 to 2020 to explore the impact and internal logic mechanism of the pilot policy in the pilot zone on the green innovation of industrial enterprises.The study found that:the establishment of the experimental area significantly promoted the green innovation of industrial enterprises in the experimental area,and this conclusion still holds after a series of robustness tests;the heterogeneity analysis found that the establishment of the experimental area has a great effect on promoting environmental protection,non-state-owned and large-scale enterprises.The effect of green innovation of industrial enterprises is more significant;the mechanism analysis finds that the establishment of the pilot zone improves the green credit scale of the pilot zone,eases the financing constraints of industrial enterprises,and promotes the green innovation of environmental protection industrial enterprises.This paper verifies the microscopic effects of the establishment of the pilot zone from the perspective of green innovation of industrial enterprises,and proposes theoretical and policy references for the realization of high-quality sustainable development of my country’s economy.
作者
诸葛瑞阳
蔡雯霞
Zhuge Ruiyang;Cai Wenxia
出处
《金融理论与实践》
北大核心
2022年第11期49-61,共13页
Financial Theory and Practice
关键词
绿色金融改革创新试验区
绿色信贷规模
融资约束
企业绿色创新
green financial reform and innovation pilot zone
green credit scale
financing constraints
corporate green innovation
