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The combined impacts of fiscal and credit policies on green firm's investment opportunity: Evidences from Chinese firm‐level analysis
Author(s) -
Chang Kai,
Lu Ning,
Li Ze Sheng,
Wang Yi Ran
Publication year - 2021
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.3347
Subject(s) - subsidy , investment (military) , tax credit , incentive , panel data , monetary economics , business , china , economics , tax incentive , finance , public economics , market economy , politics , political science , law , econometrics
This article investigates the combined impact of fiscal and credit policies on green‐firm investment opportunities using firm‐level panel data of green industries in China. Our empirical results demonstrate that subsidies, tax rebates, and green credit loans have significantly U‐shaped nexuses with green‐firm investment opportunities: Subsidies, tax rebates, and green credit policies generate significant interactions on green‐firm investment opportunities. External financing constraints may weaken the incentive of subsidies, tax rebates, and green credit loans on green‐firm investment opportunities.