Research On The Influence Of Green Credit Policy On Accounting Information Quality Og Heavily Polluted Enterprises

The development of green finance cannot be separated from the regulatory framework and policies governing green production and consumption.In this context,to promote the development of green finance,the China Banking Regulatory Commission(CBRC)officially published the Green Credit Guidelines on 24 February 2012,With the gradual introduction of new environmental variables in credit allocation,high-polluting enterprises may face "too tight" financing dilemmas,increased financing difficulties,as well as increased environmental liability risk,credit default risk and reputational risk.As companies find it increasingly difficult to access credit,the quality of accounting information can become a lifeline for companies to access resources.Therefore,as we strengthen the policy framework for green credit,we must also focus on changes in the quality of companies’ accounting information.On this basis,this paper uses all A-share listed companies from 2009 to 2016 as the original research data sample and employs the DID model to examine the impact of green credit policies on the quality of accounting information of companies.High polluting companies were used as the experimental group and non-polluting companies as the control group.The results showed that:compared to nonhighly polluting firms,the introduction of green credits led to a relative increase in surplus management activities in high polluting firms,green credits led to an increase in the quality of accounting information of high polluting firms through a mechanism of media pressure amplification;the impact of green credits on the quality of companies’ accounting information was significantly mitigated by the nature of companies’ ownership,company size and type of business;the impact of green credits on the quality of companies’ accounting information was significantly mitigated by the nature of companies’ ownership,company size and type of business The impact of green credits on the quality of companies’ accounting information was significantly mitigated by the nature of companies’ ownership,company size and company commercial credit.Based on the findings of the study,this paper proposes the following policies:firstly,the impact of the implementation of the Green Credit policy should be regularly assessed;secondly,the objectives of the Green Credit policy should be clarified;and finally,the media should be genuinely involved.