Green finance is an important way to promote China's green and low-carbon development and is the key to solving the financial bottleneck of technological innovation in the new energy industry.This paper employs data for A-share listed new energy enterprises from 2012 to 2021,with 2017 as the date of implementation of a green finance pilot policy,to construct a double-difference model and empirically study the impact of this policy on the technological innovation of new energy enterprises.The results show the following:(i)the green financial pilot policy promotes the technological innovation of new energy enterprises;(ii)the policy can alleviate the financing constraints of new energy enterprises,which in turn promotes the technological innovation of new energy enterprises;and(iii),the technological innovation of new energy enterprises in the regions with state-owned property rights,better awareness of social responsibility and that have higher levels of financial development and green finance are more significantly affected by the promotional effect of the pilot.This study provides a certain degree of guidance for new energy enterprises to formulate future technological innovation and financing strategies.
关键词
绿色金融试点政策/新能源企业/技术创新/融资约束
Key words
green finance pilot policy/new energy enterprises/technological innovation/financing constraints
维普
万方数据