基于双重差分法的新型货币政策扩容对企业绿色创新影响的研究  

Study of the effect of the unconventional monetary policy expansion on corporate green innovation based on difference-in-differences model

作　　者：刘玉 张波 LIU Yu;ZHANG Bo(School of Economics,Anhui University,Hefei 230601,China;School of Economics and Management,Hefei University,Hefei 230601,China)

机构地区：[1]安徽大学经济学院,安徽合肥230601 [2]合肥大学经济与管理学院,安徽合肥230601

出　　处：《高师理科学刊》2024年第12期17-29,共13页Journal of Science of Teachers'College and University

基　　金：2023年度安徽省社会科学创新发展研究攻关项目(23CX033);合肥市2024年度哲学社会科学规划项目(HFSKYY202430)。

摘　　要：新型货币政策扩容是推动企业绿色创新的重要策略,以2018年新型货币政策扩容的实施作为准自然实验,运用DID方法分析新型货币政策扩容对企业绿色创新的影响.研究发现,新型货币政策扩容显著促进了企业绿色创新的“量质齐增”,并且在非国有、良好营商环境、技术密集型以及市场化程度较高的绿色企业作用效果更加突出.机制分析表明,融资成本和融资规模是新型货币政策扩容促进企业绿色创新“量质齐增”的重要路径,并且调节效应分析表明,环境规制、知识产权强度显著增强了这种促进作用.研究为新型货币政策扩容有效性提供了证据支持,同时也为推动经济绿色可持续发展提供了新的思路.The expansion of the unconventional monetary policy is a prominent strategy to promote green innovation in enterprises.Taking the implementation of the unconventional monetary policy expansion in 2018 as a quasi-natural experiment,the DID model was used to analyze the impact of the unconventional monetary policy expansion on enterprises'green innovation.The research found that the expansion of the unconventional monetary policy can significantly stimulate the joint improvement of the quantity and quality of enterprise green innovation,and the effect is more prominent in non-state-owned,favorable business environment,technology-intensive and highly market-oriented green enterprises.The mechanism analysis showed that financing costs and financing scale are important paths for the expansion of the new monetary policy to promote the quantitative and qualitative increase of green innovation in enterprises,and the analysis of regulatory effects showed that environmental regulations and intellectual property intensity significantly enhance this promoting effect.The research provides evidence to support the effectiveness of the unconventional monetary policy expansion,and also provides new ideas to promote the green sustainability development of the economy.

关 键 词：新型货币政策扩容 绿色企业 技术创新 融资效应 

分 类 号：F822.0[经济管理—财政学]