Analysis Of The Impact Of Green Crediton The Financing Effect Of Listed Companies Of China

After forty years of reform and gap up,China’s economy has created nice achievements.However,for a long time,due to over reliance on the consumption of natural resources and the extensive development model at the expense of environmental quality,the contradiction between economic development and ecological environment has become increasingly prominent.Unswervingly following the borderline of property economic development is that the solely thanks to promote the development of a fine looking China.Inexperienced credit is a very important element of the inexperienced national economy.By touching the funding impact of enterprises,we are able to management the credit of some enterprises that colly the setting,thus on have a control on their production and operation.In 2007,China initial planned "green credit".In 2012,the former China Banking Regulatory Commission adopted the green credit guidelines,which has become a key document for the implementation of the inexperienced credit policy.Within the 10 years of development of inexperienced credit in China,all sectors of society have responded absolutely and created efforts to the current finish.What’s the impact of the implementation of inexperienced credit policy?By hairdressing the relevant literature,the prevailing literature on inexperienced credit policy is usually from the attitude of banks,and there’s less analysis on the implementation impact of inexperienced credit from the attitude of enterprises.Therefore,from the attitude of enterprises,this paper makes a measurement of inexperienced credit policy and enterprise funding impact,so as to supply theoretical support for promoting the graceful implementation of inexperienced credit policy.Through the study of relevant theories,it’s found that inexperienced credit theory:inexperienced economy theory,monetary innovation theory and environmental risk theory justify the causes of inexperienced credit policy and why to implement inexperienced credit policy;This paper expounds the speculation of enterprise funding price,the speculation of enterprise funding spatiality and also the theory of enterprise funding price.On this basis,this paper puts forward the hypothesis,takes the listed firms in China’s pollution trade and environmental protection trade as samples,and uses the propensity score matching technique and also the double distinction model to explore the subsequent enterprise funding effects:initial,will the inexperienced credit policy have an effect on the funding price of polluting enterprises?Second,will the inexperienced credit policy have a control on the funding convenience of polluting enterprises?The empirical results of this paper show that the inexperienced credit policy incorporates a important impact on the funding impact of enterprises,that is especially mirrored therein the inexperienced credit policy improves the funding price of polluting enterprises and reduces their funding convenience.So as to market the more practical implementation of experienced credit policy,we must always more improve the system of inexperienced credit and clarify the responsibilities of all parties in inexperienced credit;Establish a inexperienced credit reward and penalty mechanism to support the inexperienced transformation of trade with policies;Actively perform the innovation of inexperienced credit management of banking monetary establishments and improve the extent of inexperienced monetary services.