Table 1 Data baseline.
Variable | Approximation and assumption | Source |
|---|---|---|
\((R( \% ),L\)\()\): policy supply | (2.50, 307), (2.75, 323), (3.00, 334), (3.25, 341), (3.50, 345), (3.75, 347), (4.00, 348) | Holsboer (2000) |
B: government bonds | 132.61 | Wyman and Insurance Europe (2013) |
α : leverage rate | 70.00% | Briys and De Varenne (1994) |
\({A}_{G}:\) green loan | 90.6 | Cui et al. (2018) |
\({A}_{C}:\) conventional loan | 250.4 | Cui et al. (2018) |
\({K}_{O}:\) output production firm capital | 32 | Trinks et al. (2020) |
\({A}_{O}:\) output production firm investment | 122.6 | Trinks et al. (2020) |
\({K}_{I}:\) input-providing firm capital | 21.65 | Trinks et al. (2020) |
\({A}_{I}:\) input-providing firm production | 82.95 | Trinks et al. (2020) |
g : regulatory cap | 2.20% | Narassimhan et al. (2018) |
\({g}_{O}={g}_{I}\): low-emitter cap | 0.6% | Narassimhan et al. (2018) |
\(\sigma :\) asset volatility | 24.10% | Brockman and Turtle (2003) |
\(\beta :\) materials used ratio | 50.00% | Trinks et al. (2020) |
\({R}_{B}:\) liquid-asset interest rate | 4.35% | Chou and Wang (2007) |
\({R}_{G}:\) green loan rate | 4.30% | Li et al. (2021) |
\({R}_{C}:\) conventional loan rate | 4.75% | Chou and Wang (2007) |
\({R}_{S}:\) subsidy rate | 0.45% | Li et al. (2021) |
\({R}_{I}={R}_{O}:\) insurer investment return rate | 5.10% | Tan et al. (2020) |
δ: participation rate | 85.00% | Briys and De Varenne (1994) |
