摘要
为符合环境规制要求,企业需要更多的资金投入用于技术改进和排污管理。由于技术进步有周期长和风险大的特点,企业可能更倾向于选择末端治理的方式代替技术创新。这既不利于对企业长期增长,也难以实现其绿色可持续发展。绿色信贷以环境保护为目的,为企业绿色技术发展提供针对性的资金支持。一方面降低了企业的“合规成本”;另一方面也促使企业主动进行绿色转型。基于2337个企业面板数据的实证分析证明,绿色信贷在环境规制对企业财务绩效和污染治理的影响中均有正向调节作用,有助于实现污染治理和企业增长的“双赢”。
To meet the requirements of environmental regulation,enterprises should invest more in technology improvement and pollution control.Due to the long cycle and high risk in technological progress,enterprises are used to give higher priority to end-of-pipe governance rather than technological innovation.It is not conducive to the long-term growth for enterprises,nor is it difficult to achieve sustainability.Aiming at green development,green credit provides targeted financial support to environmentally-friendly firms,which not only reduces the compliance costs,but also urges the firm to actively green transformation.The empirical study on 2337 enterprise panel data demonstrate that green credit positively promote the impact of environmental regulation on corporate financial performance and pollution control,and is helpful to achieve a“win-win”situation for pollution abatement and enterprise growth.
作者
余畅
马路遥
曾贤刚
YU Chang;MA Luyao;ZENG Xiangang(School of Environment and Natural Resources,Renmin University of China,Beijing 100872;School of Management and Economics,Beijing Institute of Technology,Beijing 100081,China)
出处
《干旱区资源与环境》
CSSCI
CSCD
北大核心
2023年第1期30-35,共6页
Journal of Arid Land Resources and Environment
基金
中央高校建设一流大学(学科)和特色发展引导专项资金(21XNL006)资助
关键词
环境规制
绿色信贷
污染治理
财务绩效
environmental regulation
green credit
pollution control
financial performance
作者简介
余畅(1993-),女,汉族,内蒙古呼和浩特人,博士研究生,主要研究方向为环境经济学。E-mail:yuchang@ruc.edu.cn;通讯作者:曾贤刚(1972-)男,汉族,江西九江人,教授,主要研究方向为环境经济学。E-mail:zengxg@ruc.edu.cn
