Green credit policy and bankruptcy risk of heavily polluting enterprises

被引：7
|
作者：
Li, Bing [1 ]
Tang, Kai [2 ]
机构：
[1] Southwestern Univ Finance & Econ, Sch Finance, Chengdu 611130, Peoples R China
[2] Taizhou Univ, Sch Econ & Management, Jichuan East Rd, Taizhou 225300, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 67卷
关键词：
Green credit policy; Bankruptcy risk; Heavily polluting enterprises; Coordinated development; FINANCIAL RATIOS; PREDICTION;
D O I：
10.1016/j.frl.2024.105897
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We investigate the impact of a green credit policy (GCP) on the bankruptcy risk of heavily polluting enterprises (HPEs). We find that a GCP strengthens the bank supervision of HPEs' production and management behavior (not limited to environmental behavior), thereby reducing their bankruptcy risk. However, since banks are unlikely to strictly supervise local state-owned enterprises and large firms, the negative correlation between the bankruptcy risk of HPEs and a GCP is weakened for such enterprises and firms. We suggest that a GCP can promote the coordinated development of the economy and the environment.
引用
收藏
页数：11
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