Research on the Strategy of Industrial Structure Optimization Driven by Green Credit Distribution

Round 1

Reviewer 1 Report

Dear Authors,

The idea of this research is quite interesting and your scientific approach is solid. 

I would recommend however starting with defining the green credit concept as it is currently implemented in China and discuss whether there are national specificities concerning this concept.

I think you need to supplement the references side with works from other parts of the world too.

Also, you did not mention how your findings relate/differ to/from other similar researches. You should do that.

Best Regards

Author Response

Dear  Reviewer：

1.The idea of this research is quite interesting and your scientific approach is solid. 

Responses to comment: Thank you very much for your comments on our manuscript. Those comments are all valuable and very helpful for revising and improving our paper, as well as the important guiding significance to our researches. We have learned much from it. We have carefully considered the comments and have revised the manuscript accordingly. 

2. I would recommend however starting with defining the green credit concept as it is currently implemented in China and discuss whether there are national specificities concerning this concept.

Responses to comment: Thank you very much for your comments. we added the following green credit concept in the 1st part:

Green credit is often called sustainable finance or environmental finance world widely. The goal of green credit is to help and encourage enterprises to reduce energy consumption, save resources, and bring ecological and environmental factors into the accounting and decision-making of the financial industry.

3. I think you need to supplement the references side with works from other parts of the world too.

Responses to comment: Yes, thanks. we added more citations as follows:

Petroni, ; Bigliardi, B.; Galati, F. Rethinking the Porter Hypothesis: The Underappreciated Importance of Value Appropriation and Pollution Intensity. Review of Policy Research 2019,36,121-140.

Clarke, A.; Stavins, R.N.; Greeno, J.L.; Bavaria, J.L.; Cairncross, F.; Esty, D.C.; Smart, B.; Piet, J.; Wells, R.P.; Gray, R.; Fischer, K.; Schot, J. The Challenge of Going Green. Harvard Business Review 1994, 72, 37-48.

Chan, R.Y.K. Corporate Environmentalism Pursuit by Foreign Firms Competing in China. Journal of World Business 2010, 45, 80-92.

Sun, Y., Razzaq, A., Sun., H, & Irfan, M. The asymmetric influence of renewable energy and green innovation on carbon neutrality in China: Analysis from non-linear ARDL model. Renewable Energy, 2022, 193, 334-343. https://doi.org/10.1016/j.renene.2022.04.159.

Sun, H., Samuel, C.A,  Amissah, JCK, Taghizadeh-Hesary, F., Mensah, IA., 2020. Non-linear nexus between CO2 emissions and economic growth: A comparison of OECD and B&R countries, Energy 212, 118637. https://doi.org/10.1016/j.energy.2020.118637.

4. Also, you did not mention how your findings relate/differ to/from other similar researches. You should do that.

Responses to comment: Thank you very much for your valuable comments and suggestions. Combining your and another expert's advice, we added some more comparison in our paper, like the following in the 5th part:

We find our study to consistent with the findings of [33,34,35].

Reviewer 2 Report

The paper needs revisions, such as:

• the introduction must be improved, highlighting the main aim of the paper;
•  the literature review is poor;
• the methodology must be improved.

Author Response

The paper needs revisions, such as:

• the introduction must be improved, highlighting the main aim of the paper;
• the literature review is poor;
• the methodology must be improved.

Responses to comment: Thank you very much for your comments on our manuscript. Those comments are all valuable and very helpful for revising and improving our paper, as well as the important guiding significance to our researches. We have learned much from it. We have carefully considered the comments and have revised the manuscript accordingly. 

1stly, in the  introduction part, we started with defining the green credit concept as it is currently implemented in China,  also with highlighting the main aim of the paper.

2ndly, we added more citations as follows:

Petroni, ; Bigliardi, B.; Galati, F. Rethinking the Porter Hypothesis: The Underappreciated Importance of Value Appropriation and Pollution Intensity. Review of Policy Research 2019,36,121-140.

Clarke, A.; Stavins, R.N.; Greeno, J.L.; Bavaria, J.L.; Cairncross, F.; Esty, D.C.; Smart, B.; Piet, J.; Wells, R.P.; Gray, R.; Fischer, K.; Schot, J. The Challenge of Going Green. Harvard Business Review 1994, 72, 37-48.

Chan, R.Y.K. Corporate Environmentalism Pursuit by Foreign Firms Competing in China. Journal of World Business 2010, 45, 80-92.

Sun, Y., Razzaq, A., Sun., H, & Irfan, M. The asymmetric influence of renewable energy and green innovation on carbon neutrality in China: Analysis from non-linear ARDL model. Renewable Energy, 2022, 193, 334-343. https://doi.org/10.1016/j.renene.2022.04.159.

Sun, H., Samuel, C.A,  Amissah, JCK, Taghizadeh-Hesary, F., Mensah, IA., 2020. Non-linear nexus between CO2 emissions and economic growth: A comparison of OECD and B&R countries, Energy 212, 118637. https://doi.org/10.1016/j.energy.2020.118637.

For the methodology, we added in the abstract, and also point out the corresponging policy implication based on the methods we used in paper.

 

Reviewer 3 Report

Abstract

The methodology used should be mentioned in this part of the paper.

Introduction

The hypotheses shall appear at the end of each part (not at the beginning) as a consequence of research and literature review.

At the end of this part, add a paragraph on how the paper is organized.

Conclusions

This chapter is very confusing, I suggest to revise this part on the following manner: General conclusions; Theoretical contribution; Practical contributions; Research limitation; Clues for future investigation and paper originality

Author Response

Dear  Reviewer：

1. Abstract

• The methodology used should be mentioned in this part of the paper.

Responses to comment: Thank you very much for your comments on our manuscript. We already added methodology  in  this part of the paper as follows:

 Credit is an important means to promote economic development, while green credit is conducive to the sustainable development of industry. This paper aims to build a multiple linear regression model and dynamic panel data GMM estimation model for analysis the important factors that affect the optimization of the industrial structure. And then we use analytic hierarchy process to explore the relationship between green credit and industrial optimization. 

2. Introduction

• The hypotheses shall appear at the end of each part (not at the beginning) as a consequence of research and literature review.
• At the end of this part, add a paragraph on how the paper is organized.

Responses to comment:  Thanks for your good advice. We have made all hypotheses to the end of each part, also added the following:

This paper aims to build a multiple linear regression model and dynamic panel data GMM estimation model for analysis the important factors that affect the optimization of the industrial structure, and then through the analytic hierarchy process and entropy method to carry out the green credit distribution of the three major industries in the east, central and west regions. Using the BP neural network, the paper also predicts the total credit amount and distribution in 2021, and finally examines the optimization effect of green credit distribution on the industrial structure.

At the end of this part, we also added a paragraph on how the paper is organized as follows:

Lastly, the remaining part of the study is divided as follows: Section 2 explains the Hypothesis. Section 3 explicates the research design include the materials and methods, and Section 4 discusses empirical findings. Finally, Section 5 provides conclusion and policy implications.

3. Conclusions

• This chapter is very confusing, I suggest to revise this part on the following manner: General conclusions; Theoretical contribution; Practical contributions; Research limitation; Clues for future investigation and paper originality.

Responses to comment: Thank you for your valuable comments. According to the problem you pointed out, we have carefully checked the part of the paper, and then we made a new more structured contents for this part.

Round 2

Reviewer 2 Report

The paper is suitable for publication in the actual form.