How Does Green Finance Reform Affect Enterprise Green Technology Innovation? Evidence from China

The construction of pilot zones for green finance reform and innovations (GFRI) is an important initiative the Chinese government to develop a economy. Based on 3236 A-share listed enterprises from 2011 2018, this paper uses difference-in-differences method (DID) examine whether GFRI can promote enterprise technology innovation. results show that significantly enhance This conclusion still robust after parallel trend test, PSM-DID placebo inspection. mechanism research shows relocate internal external financing constraints, then Further, heterogeneity analysis GFRI’s technological innovation incentives only exist in eastern region non-state-owned enterprises, which not improves total patents, but also invention patents practical patents. For central western regions state-owned From perspective innovation, assesses implementation effect GFRI, providing theoretical support empirical evidence policies serve China’s