Research Article
Exploring the Impact of Green Finance on Corporate Green Productivity: An Empirical Analysis from China with PSM-DID Model
@INPROCEEDINGS{10.4108/eai.29-3-2024.2347439, author={Weiang Chen}, title={Exploring the Impact of Green Finance on Corporate Green Productivity: An Empirical Analysis from China with PSM-DID Model}, proceedings={Proceedings of the 3rd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2024, March 29--31, 2024, Wuhan, China}, publisher={EAI}, proceedings_a={ICBBEM}, year={2024}, month={6}, keywords={green finance; gfri pilot zone; green productivity; psm-did}, doi={10.4108/eai.29-3-2024.2347439} }- Weiang Chen
Year: 2024
Exploring the Impact of Green Finance on Corporate Green Productivity: An Empirical Analysis from China with PSM-DID Model
ICBBEM
EAI
DOI: 10.4108/eai.29-3-2024.2347439
Abstract
The critical role of green finance cannot be ignored in the current financial system. To explore the practical effects of China's green finance policies, this study takes panel data of A-share listed companies from 2014 to 2022 as the sample, takes listed companies in 8 GFRI pilot zones as the research objects, and uses the PSM-DID model to study the relationship between green finance policies and green production of listed companies. The findings show that green finance benefits enterprises in the long run as well as the short term, while the former is more pronounced. Furthermore, green finance policies can have immediate impact on enterprises, boosting their green productivity by 0.53%. This study helps to provide theoretical framework for the Chinese government on how to optimize the green finance system based on the GFRI pilot zones and promote green production in enterprises.