The combined impacts of fiscal and credit policies on green firm's investment opportunity: Evidences from Chinese firm‐level analysis

Kai Chang, Ning Lu, Ze Sheng Li and Yi Ran Wang

Managerial and Decision Economics, 2021, vol. 42, issue 7, 1822-1835

Abstract: This article investigates the combined impact of fiscal and credit policies on green‐firm investment opportunities using firm‐level panel data of green industries in China. Our empirical results demonstrate that subsidies, tax rebates, and green credit loans have significantly U‐shaped nexuses with green‐firm investment opportunities: Subsidies, tax rebates, and green credit policies generate significant interactions on green‐firm investment opportunities. External financing constraints may weaken the incentive of subsidies, tax rebates, and green credit loans on green‐firm investment opportunities.

Date: 2021
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https://doi.org/10.1002/mde.3347

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:42:y:2021:i:7:p:1822-1835

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