Government-led green supply chain demonstration and corporate maturity mismatch: Evidence from China

Muyan Liu, Lu Shen and Yuehan Yan

Finance Research Letters, 2025, vol. 75, issue C

Abstract: This paper employs a difference-in-differences methodology to examine the impact of government-led green supply chain management (GSCM) certification on corporate maturity mismatch. The results demonstrate that GSCM certification significantly alleviates maturity mismatch. The effect is more pronounced for non-state-owned firms, firms with low-quality environmental information disclosure and those subject to weak environmental regulations. Mechanism analysis indicates that enhanced access to long-term loans and extended debt maturity structures are the primary channels through which GSCM certification mitigates maturity mismatch. These findings highlight the critical role of government-led green certification initiatives in addressing corporate maturity mismatch and reducing credit discrimination.

Keywords: Government-led GSCM demonstration project; Corporate maturity mismatch; Credit discrimination (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325001357

DOI: 10.1016/j.frl.2025.106870

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