绿色金融对新能源企业绩效的传导机制  

Transmission Mechanism of Green Finance on New Energy Enterprises Performance

作　　者：金剑 张炜[1] JIN Jian;ZHANG Wei(Tianjin University of Commerce,Tianjin,300134)

机构地区：[1]天津商业大学经济学院,天津300134

出　　处：《天津商务职业学院学报》2023年第3期21-31,共11页Journal of Tianjin College of Commerce

摘　　要：本文基于2011-2021年新能源上市企业的面板数据,通过熵值法和数据包络法分别计算出了此间企业历年的绿色金融发展水平和融资效率。通过分析绿色金融对于新能源企业绩效的传导机制,并选择了企业社会责任、企业规模、绿色创新政策等变量对其进行实证检验。结果表明:企业社会责任、企业规模以及绿色创新政策都会影响新能源企业绩效,研究还发现在不同时期绿色金融对新能源企业绩效的影响不同,呈现“N”型变化,而企业的融资效率具有调节作用,能将原本的“N”型转变为倒“N”型。针对以上检验结果,本文提出应当加大对于新能源产业的扶持力度,鼓励重工业企业向新能源行业转型升级,优化我国的能源结构的建议。同时,政府也要注重绿色金融对于企业融资效率的提升,企业也需要改变自己的经营观念,灵活运用绿色金融工具来提升融资效率。Based on the panel data from 2011 to 2021 of listed new energy enter⁃prises,this paper calculates the development level of green finance and financing effi⁃ciency of these companies over the years by entropy method and data envelopment meth⁃od.The transmission mechanism of green finance on the performance of new energy enter⁃prises is analyzed and the empirical testing is also conducted by selecting variables such as corporate social responsibility,corporate size,and green innovation policies.The re⁃sult indicates that the above three variables all affect the performance of new energy en⁃terprises.The study also finds that the impact of green finance on the performance of new energy enterprises varies in different periods,showing a"N"shaped change.The financ⁃ing efficiency of enterprises has a moderating effect,which can transform the original"N"type into an inverted"N"type.Based on the above test results,this article proposes to in⁃crease support for the new energy industry,encourage the transformation and upgrading of heavy industry enterprises to the new energy industry,and optimize China's energy structure.At the same time,the government should also pay attention to the improvement of green finance for corporate financing efficiency.Enterprises also need to change their business concepts and flexibly use green financial tools to improve financing efficiency.

关 键 词：绿色金融 融资效率 新能源企业 绩效 传导机制 

分 类 号：X196[环境科学与工程—环境科学]