Responsible Credit Allocation and Corporate Green Innovation: The Role of Bank ESG Preferences
責任ある融資配分と企業のグリーンイノベーション：銀行のESG選好の役割 (AI 翻訳)
Yuanyuan Man, Yulong Wang, Youwei Li
🤖 gxceed AI 要約
日本語
銀行のESG選好が企業のグリーンイノベーションに与える影響を、融資ポートフォリオのESGスコアに基づき実証。ESG選好銀行からの融資は、実質的なグリーン特許を増加させ、資金調達コスト削減や経営者の環境意識向上を通じて効果を発揮。一方、非ESG選好銀行は融資期間延長のみで環境効果は見られない。
English
This paper empirically examines how banks' ESG preferences affect corporate green innovation. Using loan portfolio ESG scores, it finds that firms borrowing from ESG-preference banks produce significantly more green patents, driven by lower financing costs and enhanced managerial environmental awareness, whereas non-ESG banks only extend loan maturities without environmental benefits.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ開示やサステナビリティ経営が進む中、銀行の融資行動が企業の脱炭素化を促すメカニズムを示す本研究成果は、日本の金融機関や企業の実務に示唆を与える。特に、ESG融資の実効性を高めるための政策設計や、企業の開示対応に有用。
In the global GX context
This study contributes to global sustainable finance literature by providing causal evidence that bank ESG preferences drive real green innovation, supporting the effectiveness of ESG-linked lending. It offers insights for regulators and financial institutions designing sustainable finance frameworks under TCFD/ISSB and transition finance initiatives.
👥 読者別の含意
🔬研究者:Provides robust empirical evidence on the real effects of bank ESG preferences on green innovation, useful for sustainable finance research.
🏢実務担当者:Highlights the importance of ESG-aligned lending for corporate green innovation, informing banks' credit policies and firms' financing strategies.
🏛政策担当者:Suggests that promoting ESG preferences in banking can effectively incentivize green innovation, relevant for designing sustainable finance policies.
📄 Abstract（原文）
Sustainable finance is vital for long‐term corporate development, yet evidence on whether responsibility‐oriented capital allocation genuinely promotes green innovation remains limited. This paper examines the impact of bank ESG preferences on firms' green innovation. Based on loan portfolio ESG scores, we classify banks into ESG‐preference banks (ESGBs) and non‐ESG‐preference banks (NESGBs). Our findings demonstrate that firms borrowing from ESGBs exhibit significantly higher green innovation output, particularly in substantive green invention patents. Mechanism analysis indicates that ESGBs drive innovation by reducing financing costs, enhancing managerial environmental awareness, and promoting green investment, whereas NESGBs merely extend loan maturities without achieving environmental benefits. These effects are stronger in firms with environmentally experienced executives, greater financial access, or weaker environmental regulation. Further analysis supports the value‐driven lending motive and demonstrates that ESGBs primarily incentivize source control green technologies and deliver tangible emission reduction benefits. This study provides important implications for sustainable finance design.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://onlinelibrary.wiley.com/doi/pdfdirect/10.1002/ijfe.70276first seen 2026-08-09 05:45:51
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