关键词: 绿色准入标准, 绿色信贷融资, 绿色供应链, 企业社会责任, 浮动利率

Abstract: With the advocacy of green development by the government, many enterprises try to achieve green transformation by investing in green technology, but they often face financial constraints. Therefore, banks introduce different green credit financing modes to help enterprises to finance. First, this paper analyzes the green credit financing model with the fixed interest rate for the manufacturer considering corporate social responsibility as the benchmark model. It is found that both green credit and corporate social responsibility can enhance the green level of the product, while they play a mutually reinforcing role. Therefore, in implementing the green credit policy, the government can encourage enterprises to fulfill corporate social responsibility, thereby realizing better environmental benefits. Then, this paper develops a green credit financing model with the floating interest rate related to the green level. It is found that when the cost coefficient of green research and development (R&D) is larger (small), manufacturers will choose the fixed (floating) interest financing mode. When the cost coefficient of green R&D is larger (small), the floating rate has a negative (positive) effect on the green level of the product. Green access criteria can eliminate the negative effect of floating interest rates on the green level of the product when the cost coefficient of green R&D is large. Therefore, when banks implement the floating rate financing model, they should set appropriate access criteria to enhance the effectiveness of the floating rate model. Finally, the financing model of joint decision-making on the green level for banks and manufacturers is analyzed. It is found that the mode of joint decision would increase the green level of the product and the utility of the whole system while reducing the utility of the manufacturer.

Key words: green access criteria, green credit financing, green supply chain, corporate social responsibility, floating interest rate