This study investigates the impact of the implementation of the Environmental Protection Law on financing efficiency in industrial enterprises. The PSM-DID analysis reveals statistically significant differences in financing efficiency between the treated and control groups, indicating a substantial impact of environmental protection policies on firms' environmental practices. The analysis of fixed effects indicates a complex relationship between environmental protection law changes and financing efficiency. By combining theoretical foundations with rigorous empirical analyses, the research sheds light on the intricate interplay between environmental protection laws, financing constraints, and the optimal utilization of financial resources.

中文翻译：

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环保法修改对我国工业企业融资效率影响的回顾性分析

本研究探讨环境保护法的实施对工业企业融资效率的影响。 PSM-DID 分析显示，处理组和对照组之间的融资效率存在统计上的显着差异，表明环境保护政策对企业的环保实践产生了重大影响。固定效应分析表明，环境保护法的变化与融资效率之间存在着复杂的关系。通过将理论基础与严格的实证分析相结合，该研究揭示了环境保护法、融资约束和金融资源优化利用之间错综复杂的相互作用。