Green credit policy, property rights and debt financing: Quasi-natural experimental evidence from China

doi:10.1016/j.frl.2019.03.014

科研成果详情

发表状态	已发表Published
题名	Green credit policy, property rights and debt financing: Quasi-natural experimental evidence from China
作者	Liu, Xinghe 1; Wang, Enxian 2; Cai, Danting3
发表日期	2019-06-01
发表期刊	Finance Research Letters
ISSN/eISSN	1544-6123
卷号	29 页码:129-135
摘要	Our paper uses the promulgation of the "Green Credit Guidelines" policy in China as a quasi-natural experiment. Based on a difference-in-differences (DID) model, the results show that the debt financing capacity of heavily polluting enterprises has dropped significantly, and the negative net effect of debt financing is more pronounced in state-owned enterprises and enterprises in regions with weak financial ecosystems. The research results show that the green credit policy system plays a guiding role in the allocation of credit resources.
关键词	Debt financing Financial ecological environment Green credit policy Heavily polluting enterprises Property rights
DOI	10.1016/j.frl.2019.03.014
URL	查看来源
收录类别	SSCI
语种	英语English
WOS研究方向	Business & Economics
WOS类目	Business, Finance
WOS记录号	WOS:000473248800018
Scopus入藏号	2-s2.0-85063002734
引用统计
文献类型	期刊论文
条目标识符	https://repository.uic.edu.cn/handle/39GCC9TT/12183
专题	个人在本单位外知识产出
通讯作者	Wang, Enxian
作者单位	1.School of Management,Xiamen University,Xiamen,361005,China 2.Institute for Financial and Accounting Studies,Xiamen University,Xiamen,361005,China 3.School of Hotel and Tourism Management,The Hong Kong Polytechnic University,Hong Kong,999077,China
推荐引用方式 GB/T 7714	Liu, Xinghe,Wang, Enxian,Cai, Danting. Green credit policy, property rights and debt financing: Quasi-natural experimental evidence from China[J]. Finance Research Letters, 2019, 29: 129-135.
APA	Liu, Xinghe, Wang, Enxian, & Cai, Danting. (2019). Green credit policy, property rights and debt financing: Quasi-natural experimental evidence from China. Finance Research Letters, 29, 129-135.
MLA	Liu, Xinghe,et al."Green credit policy, property rights and debt financing: Quasi-natural experimental evidence from China". Finance Research Letters 29(2019): 129-135.