Green Credit Guideline Influencing Enterprises’ Green Transformation in China

Xianchun Liao, Jie Wang, Ting Wang and Meicun Li ()
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Xianchun Liao: Business School, 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

Sustainability, 2023, vol. 15, issue 15, 1-22

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.

Keywords: green credit guideline; corporate green transformation; green technology; corporate social responsibility; GMM-DID (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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