现代产业经济学系列讲座第205期

时间：2021年5月28日（周五）10:00-11:30

地点：复旦大学管理学院史带楼503室

题目：Greening Through Finance?

主讲人：王欢欢 华东师范大学法学院 教授

主持人：吴乐珍复旦大学管理学院 助理教授

摘要：This paper investigates how green credit regulation affects firms’ loan conditions and their economic and environmental performance. In a simple theoretical model, with strengthened green credit regulations, banks raise loan interest rates to nonabatement firms. Firms that were formerly indifferent to pollution abatement must redetermine their abatement and production strategies. Using disaggregated firm-level data, we find that, after the reinforcement of green credit regulation, noncompliant firms saw a larger increase in interest rates, decrease in loan amounts, and more difficulty in access to loans. We further find different impacts on large and small firms in terms of their loans and their financial and economic responses. Regarding the impact on firms’ environmental performance, although all of these firms reduced their total emissions, the reductions are realized in dissimilar ways; large firms reduced their emission intensity by investing more in adopting abatement facilities, while small firms simply choose to produce less.

主讲人简介：Huanhuan Wang is a professor at School of Law at East China Normal University. Her research fields mainly lie in environmental law, energy law, as well as law and economics, with particular interest in interdisciplinary research on the environmental and economic outcomes of environmental legal reforms, and on disentangling the functioning mechanism of different regulatory tools aiming at environmental protection. She has published many articles in English journals such as Journal of Development Economics, Economic Inquiry, Transnational Environmental Law, and articles in top Chinese Journals such as Management World, Law Review, Morden Law, etc. She is also an associate editor of Journal of Economic Surveys and the editorial board member of Environmental Law Review (Chinese).