Proceedings of the 2023 3rd International Conference on Public Management and Intelligent Society (PMIS 2023)

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How the Green Finance Policy of China’s Central Bank Helps the Green Transformation of Enterprises

Authors
Suikun Wang1, Chenxi Dong1, *
1Business School of Henan University, Kaifeng, 475004, China
*Corresponding author. Email: dongchenxi0630@126.com
Corresponding Author
Chenxi Dong
Available Online 26 July 2023.
DOI
10.2991/978-94-6463-200-2_102How to use a DOI?
Keywords
green finance policy; MLF expansion; Green transformation
Abstract

We conducted a quasi-natural experiment, based on the Medium-term Lending Facility (MLF) collateral expansion and green bonds are included as eligible collateral since then. We adopts a triple-difference method to empirically test whether the green finance policy of China’s Central Bank collateral promotes the green transformation of enterprises and its effect channels. The findings are as follows: (1) The green finance policy of China’s Central Bank collateral includes green bonds rated AA or above as eligible collateral assets, which releases the incentive signal for green innovation and promotes the green transformation of related enterprises; (2) The policy can reduce the bond financing costs of enterprises by reducing the bond issue spreads, so that enterprises can obtain more funds and take the initiative in green transformation.

Copyright
© 2023 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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Volume Title
Proceedings of the 2023 3rd International Conference on Public Management and Intelligent Society (PMIS 2023)
Series
Atlantis Highlights in Intelligent Systems
Publication Date
26 July 2023
ISBN
978-94-6463-200-2
ISSN
2589-4919
DOI
10.2991/978-94-6463-200-2_102How to use a DOI?
Copyright
© 2023 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.

Cite this article

risenwbib
TY  - CONF
AU  - Suikun Wang
AU  - Chenxi Dong
PY  - 2023
DA  - 2023/07/26
TI  - How the Green Finance Policy of China’s Central Bank Helps the Green Transformation of Enterprises
BT  - Proceedings of the 2023 3rd International Conference on Public Management and Intelligent Society (PMIS 2023)
PB  - Atlantis Press
SP  - 974
EP  - 984
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-200-2_102
DO  - 10.2991/978-94-6463-200-2_102
ID  - Wang2023
ER  -