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This paper examines the impact of green credit (GC) on digital technology innovation based on Chinese enterprises using panel data from 1990 to 2016. The study collected panel data from the 40 Chinese firms listed on the Beijing and Wuhan stock markets. Manufacturing companies were selected because they mainly contribute to green credit from pre- and post-policy periods. First, in the "two high and one surplus" sectors, the application of China's Green Credit 2012 could significantly increase total factor digital technology innovation by 1.21%. Results show a considerable drop in the variable values of digital technology innovation, 61.3%; green credit policy, 10.45%; leverage, 21.0%; and green innovation, 85.4%. The results of the absolute value of standard error after matching is much lower than 20.0%, demonstrating that the variable features of the two sets of samples are similar. In conclusion, GC's impact on the FDI of capital was asymmetrical, reflecting various impacts on businesses with various types of property rights and sizes. [ABSTRACT FROM AUTHOR]

Beijing-Tianjin-Hebei region is an area where the conflict on resource environment and development most acute. Based on the panel data of listed companies in 2010-2019, this paper constructs a panel model on strategic identification degree, which reveals the development strategy of enterprises and the degree of strategic transformation. The results show that environmental and credit policies in this region have been focused on protecting and supporting business-oriented enterprises. The listed company converts monetary funds and some business assets into financial assets through the items available on the balance sheet, which hinders the development strategy of promoting independent innovation in Beijing, Tianjin and Hebei. We hope that the government should pay more attention to the problem of illegal use of funds in enterprises, and take the necessary regulatory measures to correct the tendency of misallocation of assets. At the same time, the environmental protection department and commercial banks will coordinate and work together to promote the independent innovation and business development of enterprises. [ABSTRACT FROM AUTHOR]