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The impact of green finance policies on supply chain resilience

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  • Ruan, Lei
  • Yang, Liwen
  • Li, Dongningmei

Abstract

The demand for green financing continues to rise, which offers substantial resources for companies that promote sustainable growth. This study examines whether Green financing policies (GFP) can improve corporate supply chain resilience using a difference-in-differences (DID) model and a sample of A-share listed businesses in China from 2009 to 2022. The empirical findings demonstrate that GFP considerably increases the resilience of corporate supply chains, and the result holds up through a range of robustness evaluations. Mechanism study indicates that GFP exerts a dual effect of resource and technological empowerment by alleviating financing constraints and promoting corporate technological innovation, thereby enhancing supply chain resilience. Heterogeneity analysis from the perspectives of the region, industry, external attention, and Internal characteristics suggest that the favorable influence of GFP on supply chain resilience occurs more frequently in enterprises situated in the eastern and central regions, in locations with a significant degree of economic progress, and in industries with strong competition rates, in companies with high analyst attention, and companies with high internal agency costs.

Suggested Citation

  • Ruan, Lei & Yang, Liwen & Li, Dongningmei, 2025. "The impact of green finance policies on supply chain resilience," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 18-37.
    • Handle: RePEc:eee:ecanpo:v:87:y:2025:i:c:p:18-37
    DOI: 10.1016/j.eap.2025.05.060
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