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eISSN: 2083-5906
ISSN: 1230-1485
ISSN: 1230-1485
ORIGINAL RESEARCH
Research on the Impact of Green Credit
Policy on the Intelligent Transformation
of Heavily Polluting Enterprises
1
School of Economics and Management, North University of China, China
Submission date: 2024-01-07
Final revision date: 2024-02-29
Acceptance date: 2024-03-25
Online publication date: 2024-06-03
Publication date: 2025-01-02
Corresponding author
Pol. J. Environ. Stud. 2025;34(1):963-975
KEYWORDS
TOPICS
ABSTRACT
Based on the 2012 Green Credit Guidelines, this paper examines the impact of green credit
policies on the intelligent transformation of heavily polluting enterprises by using the differencein-
difference method based on a sample of 382 listed companies in China’s manufacturing industry.
The results show that the green credit policy significantly inhibits the intelligent transformation of
heavily polluting enterprises, mainly by increasing financing constraints and reducing research input.
Further analysis shows that the inhibition effect of the Guidelines on areas with strict environmental
supervision is significant, but not on areas with lax environmental supervision, and in terms
of enterprise scale, the policy has a greater inhibitory effect on small-scale enterprises.
CONFLICT OF INTEREST
The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
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| eISSN: | 2083-5906 |
| ISSN: | 1230-1485 |
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