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Green credit policy and green innovation in green industries: Does climate policy uncertainty matter?

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  • Du, Yanan
  • Guo, Qunna

Abstract

We explore the influence of the green credit policy (GCP) on green enterprises' green innovation behaviour and the moderating effect of climate policy uncertainty (CPU). We find that the GCP enhances strategic and substantive green innovation behaviour in green enterprises, and the promotion effect of the former is greater. Higher CPU positively moderates the relationship between the GCP and green innovation. The CPU perception weakens the green innovation effect of the GCP. Moreover, managerial myopia and government R&D subsidies have heterogeneous effects on the green innovation effect of the GCP in a context of increasing CPU and CPU perception.

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  • Du, Yanan & Guo, Qunna, 2023. "Green credit policy and green innovation in green industries: Does climate policy uncertainty matter?," Finance Research Letters, Elsevier, vol. 58(PC).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pc:s154461232300884x
    DOI: 10.1016/j.frl.2023.104512
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    1. Dong, Xiaotian & Wang, Kai-Hua & Tao, Ran & Sorana, Vătavu & Moldovan, Nicoleta-Claudia, 2024. "Is there a relationship between climate policy uncertainty and green finance? Evidence from bootstrap rolling window test," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 277-289.
    2. Chen, Chen & Zhang, Tian & Chen, Haitao & Qi, Xiulin, 2024. "Regional financial reform and corporate green innovation–Evidence based on the establishment of China National Financial Comprehensive Reform Pilot Zones," Finance Research Letters, Elsevier, vol. 60(C).
    3. Huang, Yijing & Xu, Zongyu, 2024. "The role of principal-agent in corporate financialization and green innovation," Finance Research Letters, Elsevier, vol. 63(C).
    4. Wang, Tianchi & Sun, Ting & Chen, Qiuling, 2024. "Curvilinear effect of policy intensity on innovation performance in the integrated circuit industry: Too much of a good thing?," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 1337-1352.

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