Can Green Finance Policies Stimulate Technological Innovation and Financial Performance? Evidence from Chinese Listed Green Enterprises

Du, Mo; Chai, Shanglei; Li, Qiang; Sun, Ruixuan; Chu, Wenjun

doi:10.3390/su14159287

Cited by 32 publications

(25 citation statements)

References 44 publications

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“…The main driver of economic sustainability is the growth of the green industry. Power generation, ecological sustainability, cleaner production, and renewable energy companies have all grown as a result of green investment (Du et al 2022). This study used a fundamental bibliometric methodology to evaluate the status and development of scholarly work on green finance.…”

Section: Discussionmentioning

confidence: 99%

“…Green economic development is facilitated by green finance, and this results in green GDP growth (Wang et al 2020). Expanding the investment and finance channels of the green industry is a key step in the development of a green economy to support the government's guidance and support for the sector (Li et al 2022;Du et al 2022). Consequently, green financing can be used to accomplish comprehensive green growth as it assists in alleviating and assembling flexibility against the adverse consequences of environmental changes (Prajapati et al 2021).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Emerging Research Trends in Green Finance: A Bibliometric Overview

Mohanty

Nanda²,

Soubhari

et al. 2023

JRFM

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Green finance is significant since it is the first organized effort by the financial industry to link financial performance with a positive environmental impact. Green finance products are being developed appropriately to achieve sustainability. The present study employs a fundamental bibliometric methodology to assess the current state and progress of academic research on green finance. 1748 papers are taken for this study. Data are extracted from a scholarly database i.e., SCOPUS and for network analysis, VOSviewer software is used. The present paper is focused on six research questions. Information is gathered to examine the above research questions and network maps are applied. We examined year-wise document publications, types of documents, subject areas, most influential articles, different journal sources, co-authorship of countries, and co-occurrence of keywords of green finance. We categorized keywords into clusters and discovered new trends in green finance. The paper also highlighted the recent issues and challenges. The study has also certain limitations and it is concluded by providing implications and suggestions for future studies. At last, this paper will give more insights to researchers, academicians, and others to discover the research gaps in this field of green finance.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Emerging Research Trends in Green Finance: A Bibliometric Overview

Mohanty

Nanda²,

Soubhari

et al. 2023

JRFM

View full text Add to dashboard Cite

show abstract

“…As an essential method to analyze policy effects, the difference-in-difference method can effectively alleviate problems such as endogeneity and missing variables [64][65][66][67]. At the same time, green finance policy is an exogenous policy impact on manufacturing enterprises.…”

Section: Model Settingmentioning

confidence: 99%

Does Green Finance Promote the Green Transformation of China’s Manufacturing Industry?

et al. 2023

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The green transformation of the manufacturing industry is related to the low-carbon and green development of the economy. The study explored the impact mechanism of the implementation of green finance policy on the green transformation of China’s manufacturing industry from 2013 to 2021 from three aspects of capital formation and incentive, credit catalysis, integration and decentralization, and conducted a quasi-natural experiment using difference-in-difference (DID) model. Research finds that: (1) The implementation of green finance significantly promotes the green transformation of China’s manufacturing industry and has good sustainability. The mechanisms of fund formation and orientation, credit catalysis, integration and decentralization are the primary mechanism of green finance to promote the green transformation of the manufacturing industry, and the implementation effect of green finance has apparent heterogeneity; (2) The promoting effect of green finance on the green transformation of the manufacturing industry is solely vast in state-owned industries however now not enormous in non-state-owned industries; (3) The influence of green finance on the green transformation efficiency of manufacturing industry with a better information environment is more significant than manufacturing industry with a worse information environment; (4) Faced with the pressure of investing in green industries, the coping strategies adopted by enterprises in different industries are quite different. The promoting effect of green finance on the green transformation of the manufacturing industry is significant in low-competition industries but insignificant in high-competition industries. This study has enriched the research on the effect of green finance policies, explored solutions based on quasi-nature, and provided policy references for the green transformation of the manufacturing industry.

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“…The promotion of green finance can help accelerate the pace of China’s sustainable economic development and promote the harmonious development of the ecological environment. Firstly, the vigorous implementation of green credit and green bonds can improve the long-term value and business performance of enterprises [ 45 ]. Secondly, the corresponding green transformation of enterprises can not only bring a good reputation for themselves but also help them save on materials, labor, and other costs, thus realizing certain green benefits [ 46 ].…”

Section: Literature Review and Research Hypothesismentioning

confidence: 99%

The impact mechanism of China’s green finance on the transformation and innovation of high-energy-consumption enterprises

Xiang,

Lan,

et al. 2023

PLoS ONE

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The development of green finance and the promotion of green transformation and upgrading of high energy-consuming enterprises are of great significance for China to achieve the "double carbon" goal. This paper employs a dual fixed-effects model to examine the profound ramifications and intrinsic mechanisms of green finance development on the transformative innovation of high-energy-consumption enterprises, using a sample of 462 publicly traded high-energy-consuming corporations from the period spanning 2016 to 2020. The results show that the development of green finance promotes the transformation and innovation of energy-intensive enterprises and that market-incentivized environmental regulation plays a partially mediating role; the results of heterogeneity analysis show that green finance promotes the transformation and innovation of high energy-consuming enterprises with significant differences in different low-carbon pilot regions, company ownership, and enterprise size; the mechanism analysis shows that the development of green finance can increase government subsidies and alleviate financing constraints to promote the transformation and innovation of high energy-consuming enterprises; it is also found that the development of green finance can significantly improve the financial performance of enterprises. The research findings of this paper hold significant implications for promoting the sustainable development of green finance and high-energy consumption enterprises in China. They provide valuable insights and references for facilitating the green transformation and innovation of high-energy-consuming enterprises in China as well as other developing countries.

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Can Green Finance Policies Stimulate Technological Innovation and Financial Performance? Evidence from Chinese Listed Green Enterprises

Cited by 32 publications

References 44 publications

Emerging Research Trends in Green Finance: A Bibliometric Overview

Emerging Research Trends in Green Finance: A Bibliometric Overview

Does Green Finance Promote the Green Transformation of China’s Manufacturing Industry?

The impact mechanism of China’s green finance on the transformation and innovation of high-energy-consumption enterprises

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