Abstract

We investigated the impact of green credit on the green investment efficiency of 588 listed Chinese green companies from 2009 to 2019 using an extended super-SBM model. Our findings reveal that green credit can enhance a firm's green investment efficiency, with a more prominent effect observed among state-owned enterprises and firms operating in high-growth industries. Further analysis suggests that the positive impact of green credit on green investment efficiency is moderated by corporate governance, innovations, and financial constraints. Our study provides novel evidence that underscores the importance of green credit in stimulating corporate green investment efficiency in China.

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