Do Banks Value Green Management in China? The Perspective of the Green Credit Policy
Yuming Zhang and
Finance Research Letters, 2020, vol. 35, issue C
This study explores the relationship between green management and companies’ access to bank loans in the context of China's green credit policy. Using a sample of Chinese listed companies from 2012 to 2019, it shows that green management can significantly improve firms’ loan size. Moreover, corporate environmental disclosure and environmental pressure from local governments positively moderate the relationship between green management and bank loan acquisition. These results contribute to the literature on green credit policy, green management and corporate finance and provide a reference for policy makers.
Keywords: Green management; Bank loans; Green credit policy; Environmental disclosure; Government pressure (search for similar items in EconPapers)
JEL-codes: G21 G32 O16 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:35:y:2020:i:c:s1544612319314771
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