Does Green Credit Policy Affect Dividend Distribution

Abstract

Green credit means that banks and financial institutions provide loans and financing to enterprises and projects that contribute to environmental protection in order to support the development of green economy. The development of green credit is not only of great significance to environmental protection and sustainable development, but also has a profound impact on the operation and development of enterprises. This kind of influence is mainly reflected in the business performance and the image reputation of the enterprise, so it will also affect the dividend distribution of the enterprise. Firstly, this paper summarizes the relevant literature at home and abroad, and sorts out the existing literature on the impact of green credit policy on dividend distribution. According to the innovation of the existing literature, this paper discusses the influence mechanism of green credit policy on corporate dividend distribution. Then, this paper empirically tests the dividend data and green credit scale data of A-share listed companies, and finally draws A conclusion. This paper adopts PSM-DID empirical test method and finds that green credit policy has a significant positive impact on dividend distribution of listed companies.