Can green credit improve the environmental information disclosure level of industrial enterprises under the background of low-carbon economy —— Empirical analysis based on DID model

Zini Xu; Xiang Xie

doi:10.63313/EBM.2034

Authors

Zini Xu Southwest Petroleum University, School of Economics and Management, Chengdu, China Author
Xiang Xie Southwest Petroleum University, School of Economics and Management, Chengdu, China Author

DOI:

https://doi.org/10.63313/EBM.2034

Keywords:

DID Model, Green Credit, The Level of Environmental Information Disclosure, Industrial Enterprises

Abstract

Promoting the green and low-carbon development of the economy and society is a key link in achieving high-quality development. Industrial enterprises are the main sources of carbon emissions. As environmental information disclosure is an important influencing factor for enterprise financing, can green credit improve the environmental information disclosure level of industrial enterprises? This article takes the Notice on Conducting the Evaluation of Green Credit Performance of Deposit-Taking Financial Institutions in the Banking Industry issued by the People's Bank of China in 2018 as a quasi-natural experiment. It selects industrial enterprises from 2010 to 2022 as the research objects. By constructing the DID model, this paper investigates the impact and mechanism of green credit policies on the environmental information disclosure level of industrial enterprises. The research finds that: First, the implementation of the green credit policy has enhanced the environmental information disclosure level of industrial enterprises. Secondly, the green credit policy promotes industrial enterprises' environmental information disclosure by easing their financing constraints. The results of heterogeneity analysis show that the improvement of environmental information disclosure level of industrial enterprises by green credit policies is more obvious in non-state-owned enterprises and those with a higher degree of regional marketization.

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