生产力
全要素生产率
产业组织
绿色发展
绿色创新
波特假说
样品(材料)
中国
技术变更
倾向得分匹配
约束(计算机辅助设计)
匹配(统计)
业务
经济
宏观经济学
工程类
机械工程
化学
统计
数学
色谱法
政治学
法学
作者
Hong‐xing Wen,Ting Cui,Xiaoqing Wu,Pu‐yan Nie
标识
DOI:10.1016/j.jclepro.2023.140482
摘要
Green transformation is currently a major challenge for both developed and developing economies, while the role of environmental insurance (EI) in green productivity in developing economies remains unclear. Using firm-level data from Chinese A-shape listed companies, this study investigates the relationship between EI on green total factor productivity (GTFP) along the period 2010–2019. To do so, a slack-based measurement model integrated with Global Malmquist-Luenberger approach (SBM-GML) is applied in GTFP calculation, and then a time-varying difference-in-difference (DID) setup is employed for empirical analysis, as well as its combination with propensity score matching method (PSM-DID) to overcome the sample self-selection bias. We find that EI significantly promotes firm's GTFP by about 0.22 units, which is mainly driven by the improvement of technical efficiency rather than technological progress. Further analysis exploring channels suggests that EI promotes GTFP by alleviating financing constraints and stimulating green innovation. However, the heterogeneity analysis shows that both financing constraint mechanism and technological innovation mechanism are mainly observed in heavily polluting and non-state-owned enterprises (non-SOEs). Our findings provide a new insight for policy-makers that utilizing environmental insurance can promote green productivity, but which should be focused more on those enterprises who are difficult to absorb external financing and technological innovation resources.
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