{"id":"https://openalex.org/W4294953676","doi":"https://doi.org/10.3390/ijerph191811287","title":"The Impact of the Green Credit Policy on the Short-Term and Long-Term Debt Financing of Heavily Polluting Enterprises: Based on PSM-DID Method","display_name":"The Impact of the Green Credit Policy on the Short-Term and Long-Term Debt Financing of Heavily Polluting Enterprises: Based on PSM-DID Method","publication_year":2022,"publication_date":"2022-09-08","ids":{"openalex":"https://openalex.org/W4294953676","doi":"https://doi.org/10.3390/ijerph191811287","pmid":"https://pubmed.ncbi.nlm.nih.gov/36141564","pmcid":"https://www.ncbi.nlm.nih.gov/pmc/articles/9517520"},"language":"en","primary_location":{"id":"doi:10.3390/ijerph191811287","doi":"https://doi.org/10.3390/ijerph191811287","is_oa":true,"landing_page_url":"https://doi.org/10.3390/ijerph191811287","pdf_url":"https://www.mdpi.com/1660-4601/19/18/11287/pdf?version=1662629142","source":{"id":"https://openalex.org/S15239247","display_name":"International Journal of Environmental Research and Public Health","issn_l":"1660-4601","issn":["1660-4601","1661-7827"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","erih-plus","medline","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Environmental Research and Public Health","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","doaj","pubmed"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/1660-4601/19/18/11287/pdf?version=1662629142","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5053637603","display_name":"Yan Yang","orcid":"https://orcid.org/0000-0003-4547-2047","observed_orcids":["https://orcid.org/0000-0003-4547-2047"]},"institutions":[{"id":"https://openalex.org/I44675526","display_name":"Shanghai Ocean University","ror":"https://ror.org/04n40zv07","country_code":"CN","type":"education","lineage":["https://openalex.org/I44675526"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yan Yang","raw_affiliation_strings":["School of Economics and Management, Shanghai Ocean University, Shanghai 201306, China"],"raw_orcid":"https://orcid.org/0000-0003-4547-2047","affiliations":[{"raw_affiliation_string":"School of Economics and Management, Shanghai Ocean University, Shanghai 201306, China","institution_ids":["https://openalex.org/I44675526"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5119888122","display_name":"Yingli Zhang","orcid":"https://orcid.org/0000-0003-4887-2636","observed_orcids":["https://orcid.org/0000-0003-4887-2636","https://orcid.org/0000-0003-4007-6504"]},"institutions":[{"id":"https://openalex.org/I44675526","display_name":"Shanghai Ocean University","ror":"https://ror.org/04n40zv07","country_code":"CN","type":"education","lineage":["https://openalex.org/I44675526"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Yingli Zhang","raw_affiliation_strings":["School of Economics and Management, Shanghai Ocean University, Shanghai 201306, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Shanghai Ocean University, Shanghai 201306, China","institution_ids":["https://openalex.org/I44675526"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5119888122"],"corresponding_institution_ids":["https://openalex.org/I44675526"],"apc_list":{"value":2500,"currency":"CHF","value_usd":2618},"apc_paid":{"value":2500,"currency":"CHF","value_usd":2618},"fwci":5.3061,"has_fulltext":true,"cited_by_count":35,"citation_normalized_percentile":{"value":0.96068462,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"19","issue":"18","first_page":"11287","last_page":"11287"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.9746000170707703,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.9746000170707703,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.014399999752640724,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.0024999999441206455,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/green-credit-policy","display_name":"green credit policy","score":0.9929999709129333},{"id":"https://openalex.org/keywords/heavily-polluting-enterprises","display_name":"heavily polluting enterprises","score":0.8489999771118164},{"id":"https://openalex.org/keywords/corporate-debt-financing","display_name":"corporate debt financing","score":0.8539999723434448},{"id":"https://openalex.org/keywords/short-term-financing","display_name":"short-term financing","score":0.8500000238418579},{"id":"https://openalex.org/keywords/long-term-financing","display_name":"long-term financing","score":0.9980000257492065},{"id":"https://openalex.org/keywords/lending-discrimination","display_name":"credit discrimination","score":0.8040000200271606},{"id":"https://openalex.org/keywords/state-owned-enterprises","display_name":"state-owned enterprises","score":0.953000009059906},{"id":"https://openalex.org/keywords/non-state-owned-enterprises","display_name":"non-state-owned enterprises","score":0.9120000004768372},{"id":"https://openalex.org/keywords/green-finance","display_name":"green finance","score":0.6660000085830688},{"id":"https://openalex.org/keywords/chinese-listed-companies","display_name":"Chinese listed companies","score":0.49000000953674316}],"concepts":[{"id":"https://openalex.org/C61797465","wikidata":"https://www.wikidata.org/wiki/Q1188986","display_name":"Term (time)","level":2,"score":0.8451527953147888},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.6251516342163086},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5352267622947693},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.39492267370224},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.38876986503601074},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0}],"mesh":[{"descriptor_ui":"D000076502","descriptor_name":"Sustainable Development","qualifier_ui":null,"qualifier_name":null,"is_major_topic":true},{"descriptor_ui":"D002681","descriptor_name":"China","qualifier_ui":null,"qualifier_name":null,"is_major_topic":false},{"descriptor_ui":"D005544","descriptor_name":"Forecasting","qualifier_ui":null,"qualifier_name":null,"is_major_topic":false},{"descriptor_ui":"D057216","descriptor_name":"Propensity Score","qualifier_ui":null,"qualifier_name":null,"is_major_topic":false},{"descriptor_ui":"D057217","descriptor_name":"Economic Development","qualifier_ui":null,"qualifier_name":null,"is_major_topic":true}],"locations_count":5,"locations":[{"id":"doi:10.3390/ijerph191811287","doi":"https://doi.org/10.3390/ijerph191811287","is_oa":true,"landing_page_url":"https://doi.org/10.3390/ijerph191811287","pdf_url":"https://www.mdpi.com/1660-4601/19/18/11287/pdf?version=1662629142","source":{"id":"https://openalex.org/S15239247","display_name":"International Journal of Environmental Research and Public Health","issn_l":"1660-4601","issn":["1660-4601","1661-7827"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","erih-plus","medline","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Environmental Research and Public Health","raw_type":"journal-article"},{"id":"pmh:oai:pubmedcentral.nih.gov:9517520","doi":null,"is_oa":true,"landing_page_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/9517520","pdf_url":null,"source":{"id":"https://openalex.org/S2764455111","display_name":"PubMed Central","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Int J Environ Res Public Health","raw_type":"Text"},{"id":"pmid:36141564","doi":null,"is_oa":false,"landing_page_url":"https://pubmed.ncbi.nlm.nih.gov/36141564","pdf_url":null,"source":{"id":"https://openalex.org/S4306525036","display_name":"PubMed","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International journal of environmental research and public health","raw_type":"Journal Article"},{"id":"pmh:oai:RePEc:gam:jijerp:v:19:y:2022:i:18:p:11287-:d:909826","doi":null,"is_oa":false,"landing_page_url":"https://www.mdpi.com/1660-4601/19/18/11287/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:c367aab8220c481d93fd2cfa2cabb27a","doi":null,"is_oa":false,"landing_page_url":"https://doaj.org/article/c367aab8220c481d93fd2cfa2cabb27a","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"International Journal of Environmental Research and Public Health, Vol 19, Iss 11287, p 11287 (2022)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.3390/ijerph191811287","doi":"https://doi.org/10.3390/ijerph191811287","is_oa":true,"landing_page_url":"https://doi.org/10.3390/ijerph191811287","pdf_url":"https://www.mdpi.com/1660-4601/19/18/11287/pdf?version=1662629142","source":{"id":"https://openalex.org/S15239247","display_name":"International Journal of Environmental Research and Public Health","issn_l":"1660-4601","issn":["1660-4601","1661-7827"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","erih-plus","medline","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Environmental Research and Public Health","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.5351999998092651,"id":"https://metadata.un.org/sdg/13","display_name":"Climate action"}],"sustainable_development_goals_aurora":[{"score":0.5299999713897705,"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4294953676.pdf","grobid_xml":"https://content.openalex.org/works/W4294953676.grobid-xml"},"referenced_works_count":47,"referenced_works":["https://openalex.org/W2055324653","https://openalex.org/W2074928461","https://openalex.org/W2080061756","https://openalex.org/W2087178224","https://openalex.org/W2090477211","https://openalex.org/W2124597406","https://openalex.org/W2193582559","https://openalex.org/W2912832984","https://openalex.org/W2969970536","https://openalex.org/W3016723146","https://openalex.org/W3105185623","https://openalex.org/W3119322622","https://openalex.org/W3121131820","https://openalex.org/W3123352605","https://openalex.org/W3126179803","https://openalex.org/W3126822617","https://openalex.org/W3155381304","https://openalex.org/W3155949614","https://openalex.org/W3180575985","https://openalex.org/W3185351554","https://openalex.org/W3195574436","https://openalex.org/W3199707756","https://openalex.org/W3208884951","https://openalex.org/W3216347158","https://openalex.org/W4200054967","https://openalex.org/W4205250987","https://openalex.org/W4205312880","https://openalex.org/W4205595800","https://openalex.org/W4206545983","https://openalex.org/W4206652415","https://openalex.org/W4210246375","https://openalex.org/W4212787675","https://openalex.org/W4214582863","https://openalex.org/W4214835610","https://openalex.org/W4220756204","https://openalex.org/W4225012834","https://openalex.org/W4229028056","https://openalex.org/W4248785923","https://openalex.org/W4280525431","https://openalex.org/W4281715389","https://openalex.org/W4281998599","https://openalex.org/W4283204057","https://openalex.org/W4283321604","https://openalex.org/W4284976152","https://openalex.org/W4289134966","https://openalex.org/W4289598295","https://openalex.org/W4290999193"],"related_works":["https://openalex.org/W3193143795","https://openalex.org/W4389685580","https://openalex.org/W2515495336","https://openalex.org/W4281998599","https://openalex.org/W3195574436","https://openalex.org/W4394929106","https://openalex.org/W2912832984","https://openalex.org/W4376142314","https://openalex.org/W2921861770","https://openalex.org/W4372053983"],"abstract_inverted_index":{"\u201cGreen":[0],"economy":[1],"and":[2,87,109,172,215],"sustainable":[3],"development\u201d":[4],"has":[5,24,37,158],"become":[6,25],"the":[7,33,48,56,61,65,68,84,89,100,107,121,124,130,140,151,154,178,185,192,207,224],"focus":[8],"of":[9,18,51,67,102,113,123,133,142,168,188,206,209],"contemporary":[10],"world":[11],"economic":[12],"development.":[13],"As":[14],"an":[15],"important":[16],"part":[17],"green":[19,22,103,210,220],"financial":[20],"instruments,":[21],"credit":[23,104,211,221],"a":[26,44,159],"hot":[27],"topic.":[28],"This":[29,201],"paper":[30,73],"investigates":[31],"whether":[32],"Green":[34,57,69,125,155,179,193],"Credit":[35,58,70,126,156,180,194],"Policy":[36,127,157,181,195],"had":[38],"any":[39],"impact.":[40],"Does":[41],"it":[42],"have":[43],"binding":[45],"effect":[46],"on":[47,106,163],"debt":[49],"financing":[50,111,132,144,171],"heavily":[52,114,134,146],"polluting":[53,115,135,147],"enterprises?":[54],"Using":[55],"Guidelines":[59],"as":[60,83],"starting":[62],"point":[63],"for":[64,139,145,218],"implementation":[66,122],"Policy,":[71],"this":[72],"takes":[74],"Chinese":[75],"A-share":[76],"listed":[77],"enterprises":[78,165],"from":[79],"2004":[80],"to":[81,98,198],"2020":[82],"research":[85],"sample,":[86],"applies":[88],"propensity":[90],"score":[91],"matching":[92],"combined":[93],"with":[94,150],"difference-in-difference":[95],"(PSM-DID)":[96],"method":[97],"analyze":[99],"impact":[101,162],"policies":[105,212,222],"long-":[108],"short-term":[110,143,174],"scale":[112],"enterprises.":[116,148,190],"The":[117],"study":[118,202],"found":[119],"that":[120,177],"significantly":[128],"suppressed":[129],"long-term":[131,170],"enterprises,":[136,153],"but":[137],"allowed":[138],"expansion":[141],"Compared":[149],"state-owned":[152],"more":[160],"significant":[161],"non-state-owned":[164,189],"in":[166,213,223],"terms":[167],"suppressing":[169],"increasing":[173],"financing,":[175],"suggesting":[176],"is":[182],"affected":[183],"by":[184],"\u201ccredit":[186],"discrimination\u201d":[187],"Therefore,":[191],"still":[196],"needs":[197],"be":[199],"improved.":[200],"provides":[203],"empirical":[204],"evidence":[205],"effectiveness":[208],"China,":[214],"offers":[216],"suggestions":[217],"further":[219],"future.":[225]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":8},{"year":2024,"cited_by_count":11},{"year":2023,"cited_by_count":9},{"year":2022,"cited_by_count":1}],"updated_date":"2026-10-31T12:09:11.096373","created_date":"2022-09-08T00:00:00"}