Green credit, renewable energy investment and green economy development: Empirical analysis based on 150 listed companies of China. (20th January 2019)

• Record Type: Journal Article
• Authors: He, Lingyun; Zhang, Lihong; Zhong, Zhangqi; Wang, Deqing; Wang, Feng
• Is Part Of: Journal of cleaner production. Volume 208(2019)
• Page Start: 363
• Page End: 372
• Publication Date: 2019-01-20
• Subjects: Green credit -- Renewable energy investment -- Green economy development index -- Threshold effect; Factory and trade waste -- Management -- Periodicals; Manufactures -- Environmental aspects -- Periodicals; Déchets industriels -- Gestion -- Périodiques; Usines -- Aspect de l'environnement -- Périodiques; 628.5
• DOI: 10.1016/j.jclepro.2018.10.119
• Languages: English
• ISSNs: 0959-6526

Abstract

Abstract: By building a green economy development index to measure the level of green economy development, taking 150 renewable energy listed companies of China for example, this paper constructs a threshold effect model to investigate the non-linear relationship between renewable energy investment and the green economy development index from the perspective of green credit. Results mainly show that: firstly, the impact of renewable energy investment on the green economy development index includes dual threshold effects from green-credit, the effect is divided into three stages: promoting, restraining and promoting successively. Secondly, for large-sized companies, the impact of renewable energy investment on the green economy development index includes one threshold from green-credit, with the effect coefficients at each stage being 0.1034 and −0.0113, successively. However, for medium, small, and micro sized enterprises, the impact of renewable energy investment on the green economy development index includes dual threshold effects from green credit, with the effect coefficients at each stage being 0.1310, −0.0033, and 0.0244, successively, and the inhibition effect not being significant. Thirdly, our results also find that improving expenditure on environmental pollution control and adjusting industry structure are conducive to increasing the green economy development index. Highlights: Non-linear relationship between renewable energy investment and green economy development is explored here. Dual threshold effects from green-credit on renewable energy investment and green economy development exists. Medium, small, and micro sized enterprises are the dominant forces of green economy.