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      The Impact of Green Credit Policy on Technological Innovation of Firms in Pollution-Intensive Industries: Evidence from China

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      Sustainability
      MDPI AG

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          Abstract

          How to promote technological innovation with green finance policy has been a focal topic in the global green finance field in recent years. Using the difference-in-difference approach model, this paper investigated the impact of the Green Credit Guidance (GCG) policy implemented by the Chinese government in 2012 on the technological innovation of firms in pollution-intensive industries. The empirical results indicated that GCG had a negative impact, not only on research and development (R&D) input, but also on innovation output, and the impacts on firms with different property rights and different scales were consistent. Further research showed that GCG reduced the long-term debt of firms in pollution-intensive industries, and then significantly decreased the R&D input and innovation output; that is, long-term debt is a mediator in GCG and technology innovation. The results revealed that GCG fails to promote the technological innovation of firms in pollution-intensive industries. This paper suggests that China’s green credit policy should pay more attention to the technological innovation, transformation, and upgrading of firms in pollution-intensive industries.

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          Environmental Regulation and Innovation: A Panel Data Study

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            Environmental Regulation, Government R&D Funding and Green Technology Innovation: Evidence from China Provincial Data

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              The effect of environmental regulation on firms’ competitive performance: The case of the building & construction sector in some EU regions

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                Author and article information

                Contributors
                Journal
                SUSTDE
                Sustainability
                Sustainability
                MDPI AG
                2071-1050
                June 2020
                June 01 2020
                : 12
                : 11
                : 4493
                Article
                10.3390/su12114493
                35136666
                d18dad9e-4902-4a04-9361-afd9808f39d4
                © 2020

                https://creativecommons.org/licenses/by/4.0/

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