绿色信贷对商业银行经营绩效影响的研究——基于环境声誉的中介效应

The Dynamic Impact of Green Credit on the Performance of Commercial Banks——Regulatory Effects Based on Environmental Reputation

随着低碳经济的提倡与发展,大力发展绿色信贷成为商业银行发展绿色金融的有效手段,而发展绿色信贷能否为商业银行的经营绩效带来增长也一直广受关注。本文首先选择36家商业银行的样本数据,运用DID模型对实施绿色信贷政策能否提高商业银行经营绩效进行验证;其次选用有效披露的16家商业银行,从盈利性、流动性和安全性三方面构建商业银行经营绩效指标,并构建面板模型验证绿色信贷对商业银行经营绩效的异质性影响和环境声誉的中介效应。实证结果表明:(1)绿色信贷政策对商业银行经营绩效的提高是有效的;(2)绿色信贷和商业银行经营绩效存在“倒U”型的关系,且在不同类型银行间存在异质性;(3)环境声誉在绿色信贷对商业银行经营绩效的影响中具有21.68%的中介效用。

With the promotion and development of low-carbon economy,vigorously developing green credit has become an effective means for commercial banks to develop green finance,and whether the development of green credit can bring growth to the business performance of commercial banks has been widely concerned.By selecting the sample data of 36 commercial banks,firstly,the DID model is used to verify whether the implementation of green credit policy can promote the business performance of commercial banks.Secondly,16 commercial banks with effective disclosure are selected to construct the business performance indicators of commercial banks from the three aspects of profitability,liquidity and security.The dynamic panel model is used to verify the heterogeneity of green credit on the operating performance of commercial banks and the intermediary effect of environmental reputation.The empirical results show that:(1)the green credit policy is effective in improving the operating performance of commercial banks;(2)there is an inverted U-shaped relationship between green credit and the operating performance of commercial banks,and there is heterogeneity among different types of banks;(3)environmental reputation plays an intermediary effect of 21.68%in the impact of green credit on the operating performance of commercial banks.