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Green Credit Guideline Influencing Enterprises’ Green Transformation in China

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  • Xianchun Liao

    (Business School, University of Jinan, No. 336 Nanxinzhuangxi Road, Jinan 250022, China
    Institute of Green Development, University of Jinan, No. 336 Nanxinzhuangxi Road, Jinan 250022, China
    Research Center for Shandong Longshan Green Economy, University of Jinan, No. 336 Nanxinzhuangxi Road, Jinan 250022, China)

  • Jie Wang

    (Business School, University of Jinan, No. 336 Nanxinzhuangxi Road, Jinan 250022, China)

  • Ting Wang

    (Business School, University of Jinan, No. 336 Nanxinzhuangxi Road, Jinan 250022, China)

  • Meicun Li

    (Business School, University of Jinan, No. 336 Nanxinzhuangxi Road, Jinan 250022, China
    Institute of Green Development, University of Jinan, No. 336 Nanxinzhuangxi Road, Jinan 250022, China)

Abstract

To achieve high-quality corporate development, it is essential to undergo green transformation. Unlike previous literature, this paper explores relevant mechanisms affecting firms’ green transformation from a novel perspective of green credit guidelines (GCG). Using A-share listed industrial enterprises in China from 2010 to 2020 as a sample, we combine the generalized moment estimation model (GMM) with the difference-in-difference model (DID) and demonstrate that (1) GCG significantly promotes enterprises’ green transformation measured by the method of super-efficient Slacks-Based Measure and Data Envelopment Analysis (SBM-DEA). (2) GCG tends to improve green technology innovation, which further facilitates firms’ green transformation, and corporate social responsibility (CSR) reinforces the positive relationship between GCG and firms’ green transformation. Correspondingly, we provide policy recommendations for China and other developing countries.

Suggested Citation

  • Xianchun Liao & Jie Wang & Ting Wang & Meicun Li, 2023. "Green Credit Guideline Influencing Enterprises’ Green Transformation in China," Sustainability, MDPI, vol. 15(15), pages 1-22, August.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:15:p:12094-:d:1212353
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    References listed on IDEAS

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    Cited by:

    1. Lin, Boqiang & Pan, Ting, 2024. "The impact of green credit on green transformation of heavily polluting enterprises: Reverse forcing or forward pushing?," Energy Policy, Elsevier, vol. 184(C).
    2. Zhang, Ming & Li, Xiaoyan & Pai, Chih-Hung & Ding, Huanhuan & Zhang, Xuan, 2023. "Green credit and fossil fuel resource efficiency: Advancing sustainability in Asia," Resources Policy, Elsevier, vol. 86(PB).
    3. Ma, Dan & Zhu, Yanjin & Yang, Yuhan, 2024. "How Green finance affects export production quality: Fresh evidence from China," Energy Economics, Elsevier, vol. 131(C).

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