How green credit policy shapes financial performance: Evidence from Chinese listed construction energy-saving enterprise

This study uses the introduction of Green Credit Guidelines in 2012 as a quasi-natural experiment. We selected Chinese A-share listed enterprises from 2004 to 2020 sample and applied PSM-DID examine impact green credit policy on performance construction energy-saving enterprises. The revealed that: 1) has significant contribution In addition, it still holds after robustness tests (replacing PSM matching method adding or subtracting two methods control variables) placebo test. 2) A positive correlation between short-term debt. Meanwhile, debt is mediating variable 3) non-state-owned (non-SOEs) more pronounced compared state-owned (SOEs). reveals micro effects perspective It not only helps understand economic policy, but also provides corresponding insights for subsequent promotion enterprise development systems.