Science, Technology, Engineering and Mathematics.
Open Access

THE INFLUENCE OF ENTERPRISE ESG PERFORMANCE ON ITS GREEN CREDIT CAPACITY UNDER THE BACKGROUND OF NEW QUALITY PRODUCTIVITY DEVELOPMENT

Download as PDF

Volume 2, Issue 1, Pp 53-60, 2025

DOI: https://doi.org/10.61784/jtfe3035

Author(s)

XinTong Liu*, WanTing Yue, YuJie Wang, YuTing Gu

Affiliation(s)

School of Finance and Economics, Jiangsu University, Zhenjiang 212013, Jiangsu, China.

Corresponding Author

XinTong Liu

ABSTRACT

This study focuses on the relationship between enterprise ESG performance and green credit ability under the background of the development of new quality productivity. By analyzing the direction of enterprise transformation, the change of ESG evaluation mode, and the subject competition and cooperation relationship of green credit access conditions, the theoretical framework and model are constructed. The game theory model is used to explore the interaction between enterprises, banks and ESG evaluation institutions, and the association of new quality productivity, ESG level and green credit capacity is analyzed with the help of the intermediary effect model. The study found that the development of new quality productivity has a significant impact on the green credit ability of enterprises, and the ESG level plays an intermediary role. This study provides theoretical and practical guidance for the sustainable development of enterprises and the improvement of the green financial system.

KEYWORDS

ESG performance; Green credit; New quality productivity

CITE THIS PAPER

XinTong Liu, WanTing Yue, YuJie Wang, YuTing Gu. The influence of enterprise ESG performance on its green credit capacity under the background of new quality productivity development. Journal of Trends in Financial and Economics. 2025, 2(1): 53-60. DOI: https://doi.org/10.61784/jtfe3035.

REFERENCES

[1] Chinazaekpere N, C P O. Does bank credit to the private sector promote low-carbon development in Brazil? An extended STIRPAT analysis using dynamic ARDL simulations. Environmental science and pollution research international, 2020, 27(25): 31408-31426.

[2] Du J, Zhu X, Li X, et al. Explaining the Green Development Behavior of Local Governments for Sustainable Development: Evidence from China. Behavioral Sciences, 2023, 13(10).

[3] Amin A M, Mia A A M, Bala, et al .Green finance continuance behavior: the role of satisfaction, social supports, environmental consciousness, green bank marketing initiatives and psychological reactance. Management of Environmental Quality, 2023, 34(5): 1269-1294.

[4] Yan L, Bing Y, Liangcan L. Can green credit policy promote green innovation in renewable energy enterprises: evidence from China. Environmental science and pollution research international, 2023, 30(41):94290-94311.

[5] Yabo H. Assessing financial inclusion co-movement with low-carbon development index: implications for regional development. Environmental science and pollution research international, 2023, 30(47): 104791-104804.

[6] Wentao Y, Ning L, Xiaolan T, et al. Does the digital economy drive low-carbon urban development? The role of transition to sustainability. Frontiers in Ecology and Evolution, 2023, 11.

[7] Zhou Wen, Xu Lingyun. On new quality productivity: connotation characteristics and important focus points. Reform, 2023(10): 1-13.

[8] Shi Jianxun, Xu Ling. Research on the great strategic significance and realization path of accelerating the formation of new quality productive forces. Research on Financial Issues, 2024(01): 3-12. DOI:10.19654/j.cnki.cjwtyj. 2024.01.001.

[9] Pang Ruizhi. The core industrial form and cultivation of new quality productive forces. People's Forum, 2023(21): 18-21.

[10] Pu Qingping. The connotation characteristics, internal logic and realization ways of new quality productive forces —— New driving force for promoting Chinese-style modernization. Journal of Xinjiang Normal University (Philosophy and Social Sciences edition), 2024, 45(01): 77-85. DOI:10.,4100/j.cnki.65-1039/g4.20231017.001.

[11] Pu Qingping, Huang Yuanyuan. The generation logic, theoretical innovation and the value of The Times of  Present Xi's Important discourse on New Quality productive forces. Journal of Southwest University (Social Science Edition), 2023, 49(06):1-11. DOI:10.13718/j.cnki.xdsk. 2023.06.001.

[12] Wang Linlin, Lian Yonghui, Dong Jie. Study on the mechanism of the influence of ESG performance on enterprise value. Securities Market Herald, 2022 (5): 23-34.

[13] Gehricke S A, Ruan X, Zhang J E. Doing well while doing good: ESG ratings and corporate bond returns. Applied Economics, 2024, 56(16): 1916-1934.

[14] Shailesh R, Kuldeep S, Jagjeevan K. Firm's value and ESG: the moderating role of ownership concentration and corporate disclosures. Asian Review of Accounting, 2024, 32(1): 70-90.

[15] Agarwala N, Jana S, Sahu N T. ESG disclosures and corporate performance: A non-linear and disaggregated approach. Journal of Cleaner Production, 2024, 437: 140517.

[16] Hasnan S, Ad Z A Z Z M, Farmy M D H M, et al. Factors Affecting Corporate Environmental, Social and Governance (ESG) Reporting: A Literature Review. Accounting and Finance Research, 2023; 12(4).

[17] Zhang C, Azman N B H N. Environmental Social and Governance (ESG) Performance of Corporate Value in Different Periods. Business Management and Strategy, 2023, 14(2): 85-108.

[18] Muttanachai S. ESG Performance and Corporate Financial Risk of the Alternative Capital Market in Thailand. Cogent Business Management, 2023, 10(1).

[19] Ali MF, WuY, ZhangX. ESG disclosure, CEO power and incentives and corporate risk‐taking. European Financial Management, 2023, 30(2): 961-1011.

[20] Anrafel B S D, Crispim B C M S D, Bueno L S D, et al. Integration of Environmental, Social, and Governance (ESG) criteria: their impacts on corporate sustainability performance. Humanities and Social Sciences Communications, 2023, 10(1).

[21] Liu Chunlan. An Empirical study on the relationship between ESG information disclosure quality and corporate debt financing of Listed Companies in China. Yunnan University, 2022. DOI:10.27456/d.cnki.gyndu. 2022.002754.

[22] Song Jia, Zhang Jinchang, Pan Yi. Research on the impact of ESG development on new quality productivity —— Empirical evidence from Chinese A-share listed enterprises. Contemporary economic management, 2024: 1-13. http://kns.cnki.net/kcms/detail/13.1356.F.20240313.1657.002.html.

[23] Shi Yichen, Bao Jie, Li Xuewen. Integrate ESG into the bank credit granting mechanism, taking a new step in the development of green finance. Modern Commercial Bank, 2020 (11): 13-19.

[24] Ma Jun. How can green finance support China's "30 · 60 target". International Finance, 2021 (5): 3-7.

[25] Zhang Xiaoyan, Yin Zihan, Wang Yixi. Enlightenment of global ESG related information disclosure for the development of green finance in China. Tsinghua Financial Review, 2021(12): 44-47. DOI:10.19409/j.cnki.thf-review. 2021.12. 013.

[26] Wang Xinlan, Zhang Xu Jie, Wang Nan. ESG information disclosure, debt financing costs and corporate performance —— Based on the empirical evidence of listed companies in the pharmaceutical manufacturing industry. Friends of the Accounting, 2023 (13): 82-91.

[27] Li Jinglin, Yang Zhen, Yi Junling. Does ESG performance help reduce the cost of financing corporate debt financing?—— Microscopic evidence from listed companies. Enterprise Economy, 2023,42(02): 89-99.

All published work is licensed under a Creative Commons Attribution 4.0 International License. sitemap
Copyright © 2017 - 2025 Science, Technology, Engineering and Mathematics.   All Rights Reserved.