The Intersection of Credit and Green Transformation:A Study on the Impact of Pilot Policies for Social Credit System Reform on Corporate Green Innovation
Based on the data of A-share listed companies from 2008 to 2018,staggered DID model was used to examine the impact of the implementation of the pilot policies for social credit system reform on the level of corporate green innovation.The research shows that:the pilot policies for social credit system reform have a significant promoting effect on the green innovation capability of enterpri-ses,and this conclusion is still valid after strict robustness test.Mechanism analysis shows that the pilot policies for social credit sys-tem reform can promote the level of green innovation in enterprises through two ways:reducing agency costs for enterprises and increas-ing government environmental subsidies.This provides empirical analysis based on the micro enterprise level to evaluate the actual ef-fectiveness of the pilot policies for social credit system reform.
pilot policies for social credit system reformgreen innovation of enterprisesinformal systemstaggered DID
万方数据
维普
