Green Finance Reform and the High-Quality Development of Chinese Enterprises

DOI

10.2991/978-2-38476-323-8_106How to use a DOI?

Keywords

Green finance reform; high-quality development of Chinese enterprises; DID model

Abstract

The primary task of building a fully modern socialist country is achieving high-quality development. Currently, China's economic development faces challenges of transformation and upgrading, where protecting the ecological environment and maintaining economic growth are equally important. In response, China has introduced key initiatives in green finance reform to drive high-quality economic development, thereby promoting the high-quality development of enterprises. This paper aims to explore the relationship between green finance reform and the high-quality development of Chinese enterprises, using A-share listed companies in China as the research sample. Panel data is constructed, and a DID (difference-in-differences) model is employed for regression analysis. The results indicate that green finance reform positively contributes to the high-quality development of Chinese enterprises, which is further confirmed by robustness tests. Heterogeneity analysis shows that the impact of green finance reform varies across regions: it significantly promotes high-quality development in eastern and western regions, while its effect in central regions is less pronounced, with western regions benefiting more than eastern regions. Mechanism analysis reveals that green finance reform influences high-quality development through the alleviation of financing constraints. Based on the findings, relevant policy recommendations for green finance reform and high-quality development of Chinese enterprises are proposed.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Wenhua Xu
AU  - Qi Zhang
PY  - 2024
DA  - 2024/12/23
TI  - Green Finance Reform and the High-Quality Development of Chinese Enterprises
BT  - Proceedings of the 2024 7th International Conference on Humanities Education and Social Sciences (ICHESS 2024)
PB  - Atlantis Press
SP  - 949
EP  - 958
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-323-8_106
DO  - 10.2991/978-2-38476-323-8_106
ID  - Xu2024
ER  -