Study of the effect of the unconventional monetary policy expansion on corporate green innovation based on difference-in-differences model
The expansion of the unconventional monetary policy is a prominent strategy to promote green innovation in enterprises.Taking the implementation of the unconventional monetary policy expansion in 2018 as a quasi-natural experiment,the DID model was used to analyze the impact of the unconventional monetary policy expansion on enterprises' green innovation.The research found that the expansion of the unconventional monetary policy can significantly stimulate the joint improvement of the quantity and quality of enterprise green innovation,and the effect is more prominent in non-state-owned,favorable business environment,technology-intensive and highly market-oriented green enterprises.The mechanism analysis showed that financing costs and financing scale are important paths for the expansion of the new monetary policy to promote the quantitative and qualitative increase of green innovation in enterprises,and the analysis of regulatory effects showed that environmental regulations and intellectual property intensity significantly enhance this promoting effect.The research provides evidence to support the effectiveness of the unconventional monetary policy expansion,and also provides new ideas to promote the green sustainability development of the economy.
国家科技期刊平台
NSTL
万方数据
