商业银行绿色治理成本会转嫁到实体经济么--基于商业银行信贷定价的研究

Does Banks’Green Governance Affect Their Loan Pricing-Based on Analysis of Contract-Level Bank Loan Data

银行日渐重视环境风险对信贷决策的影响,但鲜有研究探讨银行绿色治理的信贷定价效应。利用2011—2020年商业银行10044笔微观信贷数据研究发现:银行绿色治理显著提高其信贷定价,说明银行绿色治理成本通过信贷渠道转嫁到实体经济;企业绿色创新不显著影响绿色银行信贷利率,而紧密的银企关系会显著削弱银行绿色治理的成本转嫁效应。文章为监管部门评估绿色金融政策效果、协同银企利益关系提供了理论基础和经验证据。

The banks have incorporated environmental risks into the assessment of credit pricing,while few studies have explored the credit pricing effect of green governance in banks.Using 10044 microcredit data of major commercial banks in China from 2011 to 2020,we find that green governance significantly improves the credit pricing of banks,which indicates that the cost of green governance is transferred to the real economy through credit channels.Enterprise green innovation does not affect the credit interest rate of green bank,and the close bank-enterprise relationship significantly weakens the cost pass-through effect of green governance.This research provides theoretical basis and empirical evidence for regulators to evaluate the effect of green finance policies and coordinate the interest relationship between banks and enterprises.