How to promote renewable energy investment is central to energy transformation and green development. To take China’s “green credit guidelines” policy as a quasi-natural experiment, we investigate the impacts of green credit policy on renewable energy investment. Using the samples of 1021 Chinese listed enterprises during 2007–2017, we find that: Firstly, the introduction of the green credit guidelines has promoted renewable energy investment. Secondly, short-term debts play a mediating role in the impacts of green credit guidelines on renewable energy investment, while long-term debts play a masking role, and financing constraints do not play a significant role. Thirdly, the heterogeneous impacts on renewable energy investment are reflected in different ownerships and enterprise scales, with significant impacts on the state-owned enterprises and small ones.

This paper explores the effects and mechanisms of corporate financialization on corporate environmental responsibility (CER), using panel regression and the panel quantile regression model. The data is from 484 Chinese A-share non-financial listed companies, over the period 2008–2015. Some valuable results were achieved, as follows. Firstly, corporate financialization has a significantly negative impact on CER. We attribute this fact to the hard constraint of shareholder value maximization and the soft constraint of CER by taking an extrinsic analysis. Moreover, this negative impact shows heterogeneity. As the CER level increases, the remarkable restraint taken by the corporate financialization on CER is gradually weakened. This results in the corporation aiming not only at the shareholder value maximization, but also at the social effect, rather than only the former. In addition, the effect of the moderating role played by corporate leverage and ownership concentration in the influence of corporate financialization on the CER is captured in different kinds of corporations, while different performances are shown.

How to promote corporate research and development is a particularly important issue under the background of the economy being diverted out of the real economy. By selecting samples of 1221 Chinese A-share non-financial listed companies from 2010 to 2019, this paper examines the impact of financialization on research and development through the panel threshold regression model. Then, the moderate range of the impact of financialization on corporate research and development is measured, as well as their heterogeneity is also analyzed. The research shows the following results: first, there is a dynamic relationship and moderate range between financialization and corporate research and development. Financialization has a positive effect on corporate research and development when the level of financialization exceeds 0.4748. Secondly, from further heterogeneous research, financialization has a threshold effect on research and development among enterprises with a high level of research and development. In addition, there is a promoting effect on corporate research and development only when their financialization level exceeds 0.0097 in enterprises with a high level of research and development. Therefore, in order to promote corporate research and development, financialization of non-financial enterprises should make adjustment and regulation according to the action and direction of moderate range.