AUTHOR=Niu Haiyan , Zhao Xiongfei , Luo Zhilin , Gong Yuxia , Zhang Xinhua 

TITLE=Green credit and enterprise green operation: Based on the perspective of enterprise green transformation

JOURNAL=Frontiers in Psychology

VOLUME=Volume 13 - 2022

YEAR=2022

URL=https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2022.1041798

DOI=10.3389/fpsyg.2022.1041798

ISSN=1664-1078

ABSTRACT=The impact and transmission mechanism of green credit policies on green transformation and upgrading in enterprises is of great practical importance because reaching carbon peaking by 2030 and carbon neutrality by 2060 is an important manifestation of high-quality economic development. The article uses panel data from heavy polluting enterprises listed in A-shares in Shenzhen and Shanghai from 2007 to 2021 to investigate the relationship between green credit policy and green transformation and upgrading of enterprises, as well as its influence. Green credit policies have been discovered to support green enterprise transformation and upgrading in both direct and indirect ways, and that the two intermediary paths of debt cost and government subsidies play a partially intermediary role in the process of green credit for green enterprise transformation and upgrading. Green credit policy also has a moderating effect on business green transformation through debt costs and government subsidies. To provide empirical support and a theoretical foundation for China's current expansion of green credit policies, pertinent policy recommendations are made regarding the implementation of green credit policies to lower financing debt costs, the improvement and adjustment of government subsidy policies to stimulate enterprises' technological innovation, the strengthening of enterprises' environmental awareness, and insisting on green operation.