气候变化领域集成服务门户(CCPortal): Government Support's signaling effect on credit financing for new-energy enterprises

CCPortal

DOI	10.1016/j.enpol.2022.112921
	Government Support's signaling effect on credit financing for new-energy enterprises
	Xu Z.; Meng L.; He D.; Shi X.; Chen K.
发表日期	2022
ISSN	0301-4215
卷号	164
英文摘要	For new-energy enterprises, obtaining government support, which acts as a signal to the bank, has gradually become an important way for companies to obtain credit. Using information content measurement, this study identified the signaling effects and calculated the signaling effect strength of government support for the credit financing of new-energy companies. We then analyzed the information content of policy signals using regression methods. The main conclusions are as follows. R&D subsidies have a certification effect, mainly certifying the technical capabilities of enterprises. New-energy production subsidies have an anticertification effect on many new-energy firms, and they cannot convey any information to the bank. Tax incentives also have a certification effect, and the information they convey is low rent-seeking. High political connection is not positive information of government supports for new-energy firms to obtain bank loans. This research can help policy makers analyze the effects of their policy tools on the decision-making of financial market entities. © 2022 Elsevier Ltd
英文关键词	Credit funding; Government support; New-energy enterprises; Signaling effect
语种	英语
scopus关键词	Decision making; Information use; Public policy; Regression analysis; Taxation; Content measurements; Credit funding; Energy companies; Government supports; Information contents; New energies; New energy enterprise; Regression method; Signaling effect; Technical capabilities; Signaling; banking; credit provision; financial market; incentive; regression analysis; research and development; tax system
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256261
作者单位	The College of Economics and Management, Shenyang Agricultural University, China; Business School, Northeast Normal University, China
推荐引用方式 GB/T 7714	Xu Z.,Meng L.,He D.,et al. Government Support's signaling effect on credit financing for new-energy enterprises[J],2022,164.
APA	Xu Z.,Meng L.,He D.,Shi X.,&Chen K..(2022).Government Support's signaling effect on credit financing for new-energy enterprises.Energy Policy,164.
MLA	Xu Z.,et al."Government Support's signaling effect on credit financing for new-energy enterprises".Energy Policy 164(2022).