绿色信贷政策背景下重污染企业环保投入与企业价值——以长江流域为例  

Environmental Protection Investment and Company Value of Heavily Polluting Enterprises under the Background of Green Credit Policy——a Case Study of the Yangtze River Basin

作　　者：刘菁 朱文莉[2] Liu Jing;Zhu Wenli(Shaanxi University of Science and Technology,Xi'an Shaanxi 710016)

机构地区：[1]陕西科技大学经济与管理学院,陕西西安710016 [2]陕西科技大学,陕西西安710016

出　　处：《现代工业经济和信息化》2022年第11期7-10,共4页Modern Industrial Economy and Informationization

基　　金：咸阳市科技计划项目:基于“两链”融合的咸阳“五四四”现代产业体系构建策略研究(项目编号:2021ZDYF-SF-0031)。

摘　　要：以我国政府近年来大力推动企业绿色转型升级以及2021年出台的《长江保护法》为背景,选取2013—2020年长江流域上市的重污染企业为样本,检验环保投入对企业价值的影响,以及绿色信贷在环保投入与企业价值中的调节作用。结果表明:环保投入与企业价值呈“U”型相关关系,绿色信贷的实施可以调节环保投入与企业价值之间的关系,使环保投入与企业价值的曲线关系更加平稳。Based on the background of the Chinese government’s vigorous promotion of green transformation and upgrading of enterprises in recent years and the Yangtze River Protection Law issued in 2021,this paper selects the heavily polluting enterprises listed in the Yangtze River Basin from 2013 to 2020 as samples to test the impact of environmental protection investment on corporate value and the regulatory role of green credit in environmental protection investment and corporate value.The results show that there is a"U"shaped correlation between environmental protection investment and corporate value;The implementation of green credit can adjust the relationship between environmental protection investment and company value,and make the curve relationship between environmental protection investment and company value more stable.

关 键 词：绿色信贷 长江流域 环保投入 企业价值 

分 类 号：F832.46[经济管理—金融学]