Green credit policy and the innovation dilemma: Evidence from China

Xinkuo Xu and Qianyu Liu

Finance Research Letters, 2025, vol. 83, issue C

Abstract: This paper examines the differential effects of green credit policy (GCP) on green and other technological innovation of high-polluting enterprises. It verifies that the implementation of GCP has significantly promoted green technological innovation in China, while it has had a crowding-out effect on other technological innovation. The shift in innovation structure occurs through enhancing corporate green cognition and increasing financing costs. Furthermore, for enterprises with higher supply chain resilience and better internal control, the positive impact of GCP on green technological innovation is pronounced, and its crowding-out effect on other technological innovation is not significant.

Keywords: Green credit policy; Green technological innovation; Other technological innovation; Green cognition; Financing costs (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612325009134
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325009134

DOI: 10.1016/j.frl.2025.107654

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().