RESUMO
The development of a country is inseparable from the material guarantee mainly based on energy, but energy is limited, which may restrict the sustainable development of the country. It is very necessary to accelerate the adoption of programs aimed at switching non-renewable energy sources to ones that are, and giving priority to improving renewable energy consumption and storage capabilities. From the experience of the G7 economies, the development of renewable energy (RE) is inevitable and urgent. The China Banking Regulatory Commission has recently issued a number of directives, such as the "Directives for Green Credit" and "Instructions for Granting Credit to Support Energy Conservation and Emission Reduction," to help businesses that use "renewable energy expand". This article firstly discussed the definition of the "green institutional environment" (GIE) and the construction of the index system. Then, on the basis of clarifying the relationship between the GIE, and RE investment theory, a semi-parametric regression model was constructed to empirically analyze the mode and effect of the GIE. Considering the balance between improving model accuracy and reducing computational complexity, the number of hidden nodes opted in this study is 300 so as to lower the time needed to predict the model. Finally, from the perspective of enterprise scale, the level of GIE played a significant role in promoting RE investment in small and medium-sized enterprises, with a coefficient of 1.8276, while the impact on RE investment in large enterprises had not passed the significance test. Based on the conclusions, the government should focus on building a GIE dominated by green regulatory systems, supplemented by green disclosure and supervision systems, and green accounting systems, and should make reasonable plans for releasing various policy directives. At the same time, while offering full play to the guiding role of the policy, its rationality should also be paid attention to, and the excessive implementation of the policy should be avoided, so that an orderly, and good GIE can be created.
RESUMO
The introduction of green credit policy provides an important idea to solve the contradiction between economic development and environmental protection. Based on fuzzy-set Qualitative Comparative Analysis (fsQCA) method, from the perspective of bank governance structure, this paper selects ownership concentration, independence of the Board, executive incentive, activity of Supervisory Board, degree of market competition and loan quality as antecedent variables to analyze the path of their impact on green credit. It is found that: (1) The main way to achieve high-level green credit is high ownership concentration and good loan quality. (2) The configuration of green credit has causal asymmetry. (3) Ownership structure is the most important factor affecting green credit. (4) There is a substitution between the low independence of the Board and the low executive incentive. The low activity of Supervisory Board and the poor loan quality are also substitutable to a certain extent. The research conclusion of this paper is helpful to improve the green credit level of Chinese banks and win the green reputation for banks.
