The Impact and Mechanism of Interest Rate Marketization on the Quality and Efficiency of Enterprise Green Technology Innovation
There is still room for further exploration of the relationship between interest rate marketization and enterprise green technology innovation.In order to further clarify whether interest rate marketization can bring new impetus to enterprise green technology innovation in the context of economic transformation and development,based on the data from A-share listed companies from 2007 to 2020,this paper constructs an econometric analysis model,explores the impact of interest rate marketization on the quality and efficiency of enterprise green technology innovation and its internal mechanism,and conducts robustness tests by removing some influencing factors,changing time windows,and considering time lag effects.Furthermore,a sample test is conducted based on the division of corporate property rights and technological attributes.The results show that interest rate marketization significantly promotes the quality and efficiency improvement of green technology innovation in enterprises,and the robustness is relatively high;the marketization of interest rates has significantly improved the financing constraints for green technology innovation in enterprises,optimized the efficiency of enterprise resource allocation,and promoted technological progress,thereby promoting the improvement of the quality and efficiency of green technology innovation in enterprises;the green technology innovation effect of interest rate marketization exhibits significant heterogeneity among enterprises with different property rights and technology intensive attributes,in which the interest rate marketization has a more significant effect on improving the quality and efficiency of green technology innovation in non-state-owned enterprises and technology intensive enterprises.Therefore,China should further promote interest rate marketization and actively promote digital technology,while actively leveraging the green technology innovation potential of high-tech enterprises and strategic emerging enterprises,and improving the quality and efficiency of enterprise green technology innovation.
interest rate marketizationenterprise green innovationinnovation qualityinnovation efficiencygreen technology innovationenterprise green transformation
万方数据
维普
