Research Article
Does Green Credit Policy Promote Corporate ESG Performance -- Evidence from Chinese A-Share Listed Companies
@INPROCEEDINGS{10.4108/eai.19-5-2023.2334406, author={Peng Wang and Mingfang Zhu}, title={Does Green Credit Policy Promote Corporate ESG Performance -- Evidence from Chinese A-Share Listed Companies}, proceedings={Proceedings of the 2nd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2023, May 19--21, 2023, Hangzhou, China}, publisher={EAI}, proceedings_a={ICBBEM}, year={2023}, month={7}, keywords={green credit policy; corporate esg performance; difference-in-differences model}, doi={10.4108/eai.19-5-2023.2334406} }- Peng Wang
Mingfang Zhu
Year: 2023
Does Green Credit Policy Promote Corporate ESG Performance -- Evidence from Chinese A-Share Listed Companies
ICBBEM
EAI
DOI: 10.4108/eai.19-5-2023.2334406
Abstract
The paper uses A-share listed companies in China from 2009 to 2020 as a sample and takes the “Green Credit Guidelines” implemented in 2012 as a quasi-natural experiment to explore the impact of green credit policy on corporate ESG performance through a difference-in-differences model. The study found that green credit policy will promote the improvement of corporate ESG performance. This conclusion has passed a series of robustness tests. And from the perspective of the dynamic effect of the policy, the Guidelines had a short-term effect but was not stable in the first year after its implementation, and its effect increased year by year in the third year after its implementation, indicating that the policy has a certain timeliness. The research conclusions of this paper have important reference significance for the improvement of green credit policy.