| 摘要: |
| 摘要：大力发展绿色金融，支持绿色产业和项目建设，是实现碳达峰碳中和目标、推动经济高质量发展的重要举措。绿色金融利用绿色信贷等金融工具为环境友好型企业提供资金支持，为实体经济绿色低碳发展提供强大动力。以2014－2021年沪深A股上市公司为样本，考察绿色金融对企业绿色技术创新的影响及其作用机制。研究发现：绿色金融显著推动了企业进行绿色技术创新，且该结论具有稳健性；机制检验表明，绿色金融通过缓解企业融资约束和提高企业风险承担能力促进企业开展绿色技术创新项目；异质性检验发现，此促进效应在非重污染企业与盈利能力低的企业中更为突出。因此，金融机构在设计绿色金融机制时，应当关注企业的绿色技术创新需求，提供更为灵活和适应性强的金融产品，尤其是针对非重污染企业与盈利能力低的企业；政府应加强对企业及行业绿色数据的监测和披露，提升信息透明度，使得金融机构更全面地了解企业的绿色创新活动，从而为其提供更精准的绿色金融支持；企业应利用绿色金融积极主动地加入绿色技术创新的行列，在可持续发展和环保领域创造成效。 |
| 关键词: 关键词：绿色金融；绿色技术创新；融资约束；企业风险承担 |
| DOI： |
| 分类号:F272.3 |
| 基金项目:基金项目：甘肃省高等学校创新基金项目“‘文化＋’业态融合驱动甘肃乡村文化振兴研究”（2021B-182）；江苏高校哲学社会科学重点项目“结构性货币财政政策与企业投资选择的耦合升级路径研究”（2017ZDIXM049）。 |
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| Green Finance and Enterprise Green Technology Innovation |
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ZHANG Meng-hao
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（School of Economics,Gansu University of Political Science and Law）
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| Abstract: |
| Abstract：Vigorously developing green finance and supporting the construction of green industries and projects is an important measure for realizing the goal of carbon peaking and carbon neutrality and promoting high-quality economic development.Green finance utilizes green credit and other financial tools to provide financial support for environmentally friendly enterprises,providing a strong impetus for the green and low-carbon development of the real economy.Taking the A-share listed companies in Shanghai and Shenzhen from 2014 to 2021 as a sample,the study examines the impact of green finance on enterprises’ green technology innovation and its influence mechanism.The study finds that green finance significantly promotes enterprises to carry out green technological innovation,and the conclusion is robust；the mechanism test finds that green finance promotes enterprises to carry out green technological innovation projects by alleviating their financing constraints and improving their risk-taking ability；the heterogeneity test finds that this promotion effect is more prominent in non-heavily-polluted enterprises and enterprises with low profitability.Therefore ,when designing a green financial mechanism,financial institutions should pay attention to the green technology innovation needs of enterprises and provide more flexible and adaptable financial products,especially for non-heavy polluting enterprises and enterprises with low profitability.The government should strengthen the monitoring and disclosure of green data of enterprises and industries,improve the transparency of information,and make financial institutions more fully understand the green innovation activities of enterprises,so as to provide more accurate green financial support for them.Enterprises should use green finance to actively join the ranks of green technology innovation and create results in the field of sustainable development and environmental protection. |
| Key words: Key words：Green Finance；Green Technology Innovation；Financing Constraints；Corporate Risk taking Ability |
