ESG Practice of Lending Banks and Green Technology Innovation of Borrowing Enterprises
This paper takes listed companies and commercial banks in China during 2013-2022 as the research objects,constructs the ESG index of commercial banks based on machine learning algorithms,and empirically tests the impact and mechanism of ESG practice of lending banks on green technology innovation of borrowing enterprises.Research has found that,firstly,the ESG practice of lending banks have significantly improved the level of green technology innovation of bor-rowing enterprises,and this effect is more pronounced in private enterprises,enterprises that do not hold bank shares,and regions with higher government environmental attention and regulation;Secondly,ESG practice of banks promote the green technology innovation in enterprises by alleviating financing constraints,optimizing corporate human resource structures and enhancing their internal management levels;Thirdly,the promotion effect of ESG practice of banks on corporate green inno-vation has neither led to strategic green innovation nor sacrificed the economic benefits of the enterprise.Moreover,this promotion effect is not a rejection of other innovation activities,but a leverage effect added to the existing innovation activi-ties of the enterprise.
ESG practice of banksgreen technology innovation of enterpriseresource allocationsupervision and gover-nancefinancing incentive
NETL
NSTL
万方数据
