Can green finance improve the financial performance of green enterprises in China?

被引：20
作者：
Yu, Bo [1 ,2 ]
Liu, Lu [1 ,3 ]
Chen, Hong [1 ]
机构：
[1] Nanjing Univ Informat Sci & Technol, Business Sch, Nanjing 210044, Peoples R China
[2] Nanjing Univ Informat Sci & Technol, Dev Inst Jiangbei New Area, Nanjing 210044, Peoples R China
[3] Nanjing Univ Informat Sci & Technol, Business Sch, 219 Ning Liu Lu, Nanjing, Jiangsu, Peoples R China
来源：
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2023年 / 88卷
关键词：
Green finance; Green enterprises; Financial performance; Technical innovation;
D O I：
10.1016/j.iref.2023.07.060
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper constructs a regional green finance development index to examine the impact of green finance on the financial performance of green enterprises in China. We find that green finance can significantly enhance the financial performance of green enterprises through capital aggregation and information transmission. In addition, R & D innovation acts as a bridge in the influence of green finance. According to heterogeneity analysis, green finance tends to contribute more to clean energy enterprises and enterprises with less government subsidies. The findings contribute to the scientific evaluation of green financing strategy and lay the foundation for the decisionmaking of promoting the sustainable growth of green industries and enterprises.
引用
收藏
页码：1287 / 1300
页数：14
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