Green credit, perceived value, and the green development of grain family farms: evidence from Hunan Province, China

Introduction The green development of grain family farms is an inevitable path to ensuring national food security in China, and green credit is a crucial financial tool for promoting it. Methods Based on survey data from 335 grain family farms in Hunan Province, China, this study employs the Heckman two-stage model and a mediating effect model to empirically analyze the impact of green credit on the green development of grain family farms. Results Benchmark Regression shows that green credit has a significant positive effect on the green development: a 1% rise in green credit increases the probability of implementing green production behavior by 0.55% and the degree of green production by 1.029%. The mechanism test shows that green credit can promote such development by enhancing farmers’ perceived value. Policy regulation plays a positive moderating role in this impact, meaning it can effectively enhance the positive impact through perceived value. Discussion Based on this, the study proposes policy suggestions, including innovating green credit services to strengthen support for grain family farms and improving the green credit policy system to fully leverage the moderating effect of policy regulation.