摘要
随着商业银行响应绿色金融政策的手段越来越多样化、推行的绿色产品也越来越丰富化,如发行绿色债券、绿色信贷、绿色股票、绿色基金等,不同商业银行对待绿色金融政策的差异性,直接反映在银行绿色产品的推广数量、价格总额及种类上.由于商业银行在响应绿色政策过程中,必然会权衡收益与成本的大小,通过采取处理效应模型(TEM),计量分析了商业银行是否积极实施绿色金融政策对其内部盈利和外源融资的影响,探索影响商业银行实施绿色金融政策的内部动机.研究发现,积极实施绿色金融政策对提升商业银行的盈利能力和偿债能力均有正向作用,政府扶持力度、绿色产品多元化推行、不同重污染行业绿色需求等因素,都会直接影响到绿色金融发展水平,但全体平均处理效应(ATE)和参与者平均处理效应(ATT)均呈弱显著性,这表明目前我国的绿色金融政策仍处于萌芽发展阶段,商业银行需要进一步完善绿色体系、创新绿色产品,促进可持续发展.
Commercial banks have more and more diversified means of resPonding to green financial Policies,and more and more green Products have been imPlemented,such as issuing green bonds,green credit and green Products.Stocks,green funds and so on,the differences of different commercial banks'green financial Policies are directly reflected in the quantity,total Price and tyPes of green Products Promoted by banks.In resPonse to the green Policy,commercial banks will inevitably weigh the benefits and costs.This PaPer adoPts the Treatment Effect Model(TEM)to measure and analyze whether commercial banks actively imPlement the green financial Policy on their internal Profits and external financing,and exPlore the internal factors affecting the imPlementation of the green financial Policy by commercial banks.The motivation of the DePartment.The study finds that actively imPlementing green financial Policy has a Positive effect on imProving commercial banks'Profitability and solvency.Government suPPort,diversification of green Products,green demand of different heavy Polluting industries and other factors will directly affect the level of green financial develoPment,but the overall average treatment effect(ATE)The average treatment effect(ATT)of the ParticiPants is weakly significant,which indicates that China's green financial Policy is still in the embryonic stage of develoPment.Commercial banks need to further imProve the green system,innovate green Products and Promote sustainable develoPment.
作者
孙红梅
雷喻捷
SUN Hong-mei;LEI Yu-jie(School of business,Shanghai Normal University,Shanghai 200234,China)
出处
《中国软科学》
CSSCI
CSCD
北大核心
2019年第S01期255-269,共15页
China Soft Science
基金
国家自然基金面上项目“我国环保产业R&D投入的决策理论与评价方法研究”(71673189).
关键词
绿色金融
处理效应模型
商业银行绩效
green finance
Processing effect
commercial bank Performance
作者简介
孙红梅(1967—),女,博士,上海师范大学商学院教授.研究方向:财务绩效与风险控制.
