绿色信贷能促进企业持续绿色创新吗?——基于双重机器学习的因果推断  

Can Green Credit Promote Continuous Green Innovation in Enterprises?Causal Inference Based on Double Machine Learning

作　　者：朱子轩 ZHU Zixuan(Business School of Soochow University,Suzhou 215000,Jiangsu,China)

机构地区：[1]苏州大学商学院,江苏苏州215000

出　　处：《科技和产业》2025年第8期8-15,共8页Science Technology and Industry

摘　　要：“双碳”战略目标下,绿色信贷已成为经济高质量发展和企业自身转型的重要动力。研究基于2004—2022年A股上市公司的经营数据,以2012年《绿色信贷指引》的实施作为准自然实验,采用双重机器学习方法构建实证模型,探究《绿色信贷指引》如何影响环保企业持续进行绿色创新。研究结果表明,《绿色信贷指引》实施后,通过降低融资约束、增加研发投入及促进银企共同持股,有效推动环保型企业持续进行绿色创新。Under the“dual carbon”strategic goals,green credit has become an important driver for high-quality economic development and the transformation of enterprises.Based on operational data from A-share listed companies in China from 2004 to 2022,the implementation of the 2012“Green Credit Guidelines”was used as a quasi-natural experiment.Employing double machine learning approach to construct an empirical model,the findings indicate that after the implementation of the Guidelines,the reduction of financing constraints,increased R&D investment,and promotion of joint ownership between banks and enterprises effectively drive continued green innovation in environmental protection enterprises.

关 键 词：绿色信贷 持续创新 双重机器学习 

分 类 号：F832[经济管理—金融学]