4.6 Article

Does Green Finance Drive Environmental Innovation in China?

Related references

Note: Only part of the references are listed.
Article Business

Nexus between Green Finance and Renewable Energy Development in China

Mingbo Zheng et al.

Summary: This research explores the bi-directional relationship between green finance and renewable energy development in China. The results show a long-term relationship exists in the eastern and central provinces, but not in the western provinces. It also finds that green finance cannot directly promote renewable energy development in the short term, but does so in the long term for the eastern and central provinces. This research has implications for emerging economies in designing green financial instruments and measures for renewable energy development.

EMERGING MARKETS FINANCE AND TRADE (2023)

Article Business

The Role of Different Fiscal Policies in Inducing Environmental Innovation and Enhancing Firm Competitiveness

Zhongju Liao et al.

Summary: This study examines the relationship between fiscal policy instruments, environmental innovation, and firms' competitiveness. The results show that different fiscal policy instruments have different impacts on environmental innovation and firm competitiveness.

EMERGING MARKETS FINANCE AND TRADE (2023)

Article Business

Export Liberalization and Firm's Energy Efficiency: Theory and Evidence

Ling-Yun He et al.

Summary: This paper examines the impact of export liberalization on energy use performance of firms. The results indicate that export liberalization can improve firms' energy use performance. Mechanism tests further demonstrate that export liberalization can enhance firms' productivity and innovation ability, thereby increasing firms' energy use efficiency.

EMERGING MARKETS FINANCE AND TRADE (2023)

Article Economics

How Does Green Investment Affect Environmental Pollution? Evidence from China

Siyu Ren et al.

Summary: The study finds that green investment has a negative impact on local environmental pollution, but has no effect on green investment in neighboring areas; green investment can reduce environmental pollution by improving energy conservation and emission reduction efficiency, expanding technological innovation capabilities, and upgrading industrial structure; the regression results of the dynamic threshold model indicate that the impact of green investment on reducing environmental pollution is dependent on institutional quality.

ENVIRONMENTAL & RESOURCE ECONOMICS (2022)

Article Business

Third Party Environmental Disclosure and Firm's Green Innovation: Evidence from a Natural Experiment in China

Chuanjian Luo et al.

Summary: The study shows that third party environmental disclosure promotes green innovation in Chinese companies and has a long-term positive impact on green innovation. The relationship between environmental disclosure and green innovation is moderated by various factors.

EMERGING MARKETS FINANCE AND TRADE (2022)

Article Business

Does Local Governments' Environmental Information Disclosure Promote Corporate Green Innovations?

Xue Tan et al.

Summary: Using a pollution information transparency index as a measure, this study finds that higher levels of information disclosure by local governments in China lead to a higher likelihood of green innovations. The disclosure of environmental information promotes green innovations through political pressure and law enforcement channels. Long-term effects are observed, and the relationship between information disclosure and green innovations is more significant for firms owned by local governments and private firms. Furthermore, firms with fewer agency problems are more likely to engage in green innovations.

EMERGING MARKETS FINANCE AND TRADE (2022)

Article Ecology

The impact of fintech innovation on green growth in China: Mediating effect of green finance

Guangyou Zhou et al.

Summary: This paper investigates the impact of fintech and green finance on green growth from the perspective of fintech development. It constructs a comprehensive index to evaluate the green growth of regional economy and tests the impact and mechanism of fintech innovation and green finance on green growth using China's provincial panel data. The results show that fintech and green finance significantly promote green economic growth, with regional heterogeneity. Further research reveals that fintech innovation mainly promotes green economic growth through green credit and green investment.

ECOLOGICAL ECONOMICS (2022)

Article Economics

Environmental performance, green finance and green innovation: What's the long-run relationships among variables?

Quan-Jing Wang et al.

Summary: This study empirically examines the relationships among environmental performance, green finance, and green innovation in developing countries, and finds that there are cointegration relationships among these variables. The results also indicate that the impact of environmental performance and green finance on green innovation varies depending on the type of country.

ENERGY ECONOMICS (2022)

Article Economics

How does green finance affect green total factor productivity? Evidence from China

Chi-Chuan Lee et al.

Summary: This study examines the impact of green finance development on green productivity using panel data of 30 Chinese provinces from 2006 to 2018. The findings reveal that green finance development significantly improves green productivity, especially in provinces with better economic and social conditions, less public participation in environmental protection, and higher pollution levels. Additionally, implementing green finance policies can further enhance the effect of green finance development.

ENERGY ECONOMICS (2022)

Article Business

Does green financial policy affect debt-financing cost of heavy-polluting enterprises? An empirical evidence based on Chinese pilot zones for green finance reform and innovations

Jinyan Shi et al.

Summary: This paper examines the impact of the green finance reform and innovation pilot policy on the debt-financing cost of heavy-polluting enterprises in China. The results show a substantial decrease in the debt-financing cost of these enterprises in the pilot zones, indicating a significant incentive effect of the policy. Mechanism analyses further reveal that the policy stimulates the reputation insurance effect through signal transmission, rather than the innovation compensation effect proposed by Porter Hypothesis.

TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE (2022)

Article Business

Does Environmental Regulation Induce Green Innovation? A Panel Study of Chinese Listed Firms

Jingbo Cui et al.

Summary: This study examines the influence of China's Cleaner Production Audit (CPA) program on innovation using green patent data. The results show that the CPA program has a positive regulatory effect on green innovation, especially in encouraging radical green innovations. The study also finds that the regulatory effect is influenced by factors such as industrial pollution intensity.

TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE (2022)

Article Business

How can China's sustainable development be damaged in consequence of financial misallocation? Analysis from the perspective of regional innovation capability

Yunwei Li et al.

Summary: China's economic growth has led to high levels of pollution and excessive energy consumption. This paper examines the levels of financial misallocation and its impact on green energy efficiency and regional innovation. The findings suggest that financial misallocation enhances innovation capability but restrains green energy efficiency. The inhibitory effect of financial misallocation on green energy efficiency is more significant with an improved degree of marketization and environmental regulation.

BUSINESS STRATEGY AND THE ENVIRONMENT (2022)

Article Business, Finance

Green finance and decarbonization: Evidence from around the world

Md Al Mamun et al.

Summary: This paper examines the impact of green finance on decarbonization and finds that it significantly reduces carbon emissions in both the short and long term. This effect is driven by the issuance of green bonds to support waste and pollution control and improve energy efficiency. The impact of green finance on carbon emissions is more pronounced in developed credit markets and economies with higher innovation success and higher climate change exposure.

FINANCE RESEARCH LETTERS (2022)

Article Economics

Environmental decentralization, digital finance and green technology innovation

Suling Feng et al.

Summary: This paper analyzes the impact of digital finance on green technology innovation using panel data from listed companies and cities in China. The results show that digital finance significantly promotes green technology innovation, especially for small-scale enterprises. Digital financial development can better promote green technology innovation in regions with higher pollutant emission intensity and stronger local government governance capacity. Manufacturing and nonstate economic development also contribute to the effectiveness of digital finance in promoting green technology innovation.

STRUCTURAL CHANGE AND ECONOMIC DYNAMICS (2022)

Article Economics

How does the green credit policy affect the technological innovation of enterprises? Evidence from China

Shengling Zhang et al.

Summary: Based on the analysis of data from Chinese A-share listed companies, this study finds that the green credit policy has significantly promoted technological innovation in highly polluting and energy-intensive enterprises. The effect of this policy on innovation varies among firms with different property rights and sizes. Profitability and ownership concentration enhance the role of the policy in promoting innovation, while agency costs weaken its effectiveness.

ENERGY ECONOMICS (2022)

Article Economics

Is green finance really a blessing for green technology and carbon efficiency?

Lidong Pang et al.

Summary: This research applies the wavelet-based quantile on quantile method to explore the impact of green finance (GF) on green technology (GT) and carbon efficiency (CE). The results show mixed effects across different market sizes and conditions, with positive effects in the bull market and negative effects in the bear market. The findings highlight the need for the government to establish evaluation systems and information disclosure criteria compatible with GT and CE, in order to improve the accuracy of GF support and promote sustainable development.

ENERGY ECONOMICS (2022)

Article Business

Influence mechanism between green finance and green innovation: Exploring regional policy intervention effects in China

Muhammad Irfan et al.

Summary: The effective use of inclusive green finance is crucial for driving green innovation, promoting sustainable economic transformation, and addressing climate change. The study found that green finance significantly contributes to green innovation, with policy interventions in pilot zones showing more pronounced effects. Industrial structure, economic growth, and research and development investment are identified as the core transmission channels through which green finance influences green innovation.

TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE (2022)

Article Environmental Studies

Green finance and sustainability development goals in Indonesian Fund Village

Reza Ronaldo et al.

Summary: This study examines the role of green finance in achieving sustainable development goals through Village Funds in Indonesia. The survey questionnaire and data analysis indicate the vital importance of green finance in both environmental sustainability and economic sustainability.

RESOURCES POLICY (2022)

Article Business, Finance

Financial Constraints and Corporate Environmental Policies

Qiping Xu et al.

Summary: This paper provides evidence that financial constraints lead to an increase in firms' toxic emissions, especially when regulatory enforcement and external monitoring are weak. The real effects of financial constraints on environmental pollution highlight the costly negative externality imposed on society and public health.

REVIEW OF FINANCIAL STUDIES (2022)

Article Business, Finance

Three green financial policies to address climate risks

Francesco Lamperti et al.

Summary: Green finance policies can reduce carbon emissions and climate impacts, while increasing financial sector stability and economic growth. However, some policy combinations may lead to credit booms, exacerbating financial instability and increasing public debt.

JOURNAL OF FINANCIAL STABILITY (2021)

Article Environmental Sciences

Fostering green development with green finance: An empirical study on the environmental effect of green credit policy in China

Shengling Zhang et al.

Summary: The Green Credit Policy (GCP) has significant effects on the investment and financing behavior of high energy consumption and high pollution enterprises, as well as environmental quality. It provides short-term incentives for financing behavior but may have punitive effects in the long term. Additionally, it contributes to the mitigation of emissions such as sulfur dioxide and wastewater. Regional heterogeneity exists in the policy effects, with more positive impacts seen in the eastern and western regions compared to the central region.

JOURNAL OF ENVIRONMENTAL MANAGEMENT (2021)

Article Economics

Regional gap and the trend of green finance development in China

Chengchao Lv et al.

Summary: This research reveals the regional gap, trend evolution, and spatial pattern of China's green finance development. It shows that the overall development index of green finance in China is increasing but not at a high level, with a decreasing regional gap and a polarization trend. The study also identifies a club convergence phenomenon in the development of green finance in China.

ENERGY ECONOMICS (2021)

Article Economics

Demand for green finance: Resolving financing constraints on green innovation in China

Chin-Hsien Yu et al.

Summary: The study found that financing constraints have a negative impact on the green innovation capabilities of firms, with privately owned enterprises being more vulnerable compared to state-owned enterprises. While green finance policies can alleviate financing constraints on green innovation, privately owned enterprises have difficulty accessing green credits.

ENERGY POLICY (2021)

Article Business

Sustaining the sustainable development: How do firms turn government green subsidies into financial performance through green innovation?

Die Hu et al.

Summary: The study shows that government green subsidies positively influence firms' financial performance through encouraging green product innovation, with higher absorptive capacity and market turbulence amplifying this indirect effect.

BUSINESS STRATEGY AND THE ENVIRONMENT (2021)

Article Business

The Effect of Green Finance on Energy Sustainable Development: A Case Study in China

Bufan Zhang et al.

Summary: The evaluation system for green finance development fills the gap in existing studies and can promote sustainable energy development.

EMERGING MARKETS FINANCE AND TRADE (2021)

Article Economics

How does China's land finance affect its carbon emissions?

Ling-Ou Wang et al.

STRUCTURAL CHANGE AND ECONOMIC DYNAMICS (2020)

Article Green & Sustainable Science & Technology

Optimization models for financing innovations in green energy technologies

R. R. Tan et al.

RENEWABLE & SUSTAINABLE ENERGY REVIEWS (2019)

Review Business

Barriers to sustainability for small and medium enterprises in the framework of sustainable development-Literature review

Juanita Alvarez Jaramillo et al.

BUSINESS STRATEGY AND THE ENVIRONMENT (2019)

Article Business

Is green the new gold? Venture capital and green entrepreneurship

Boris Mrkajic et al.

SMALL BUSINESS ECONOMICS (2019)

Article Business

CEOs' regulatory focus, slack resources and firms' environmental innovation

Zhongju Liao et al.

CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT (2018)

Article Business, Finance

Implementing internal environmental management and voluntary environmental disclosure: Does organisational change happen

Emilio Passetti et al.

ACCOUNTING AUDITING & ACCOUNTABILITY JOURNAL (2018)

Article Business

Green Innovation Strategy and Green Innovation: The Roles of Green Creativity and Green Organizational Identity

Wenhao Song et al.

CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT (2018)

Article Environmental Studies

From climate finance toward sustainable development finance

Jan Christoph Steckel et al.

WILEY INTERDISCIPLINARY REVIEWS-CLIMATE CHANGE (2017)

Article Green & Sustainable Science & Technology

Assessment of a green credit policy aimed at energy-intensive industries in China based on a financial CGE model

Jing-Yu Liu et al.

JOURNAL OF CLEANER PRODUCTION (2017)

Article Engineering, Environmental

Natural resources utilization efficiency under the influence of green technological innovation

Chenglin Miao et al.

RESOURCES CONSERVATION AND RECYCLING (2017)

Article Economics

The Impact of Energy Prices on Green Innovation

Marius Ley et al.

ENERGY JOURNAL (2016)

Review Environmental Sciences

What drives eco-innovation? A review of an emerging literature

Jana Hojnik et al.

ENVIRONMENTAL INNOVATION AND SOCIETAL TRANSITIONS (2016)

Article Business

Corporate governance and green innovation

Mario Daniele Amore et al.

JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT (2016)

Editorial Material Environmental Sciences

Engaging with the politics, agency and structures in the technological innovation systems approach

Florian Kern

ENVIRONMENTAL INNOVATION AND SOCIETAL TRANSITIONS (2015)

Article Business

Being 'Green and Competitive': The Impact of Environmental Actions and Collaborations on Firm Performance

Rosa Maria Dangelico et al.

BUSINESS STRATEGY AND THE ENVIRONMENT (2015)

Article Business

The relevance of innovation leadership for environmental benefits: A firm-level empirical analysis on French firms

Virgile Chassagnon et al.

TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE (2015)

Article Business, Finance

Does Stock Liquidity Enhance or Impede Firm Innovation?

Vivian W. Fang et al.

JOURNAL OF FINANCE (2014)

Article Economics

What Drives the International Transfer of Climate Change Mitigation Technologies? Empirical Evidence from Patent Data

Antoine Dechezlepretre et al.

ENVIRONMENTAL & RESOURCE ECONOMICS (2013)

Article Business, Finance

Are Overconfident CEOs Better Innovators?

David Hirshleifer et al.

JOURNAL OF FINANCE (2012)

Article Business

R&D investment and financing constraints of small and medium-sized firms

Dirk Czarnitzki et al.

SMALL BUSINESS ECONOMICS (2011)

Article Business

Voluntary environmental regulation in developing countries: Mexico's Clean Industry Program

Allen Blackman et al.

JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT (2010)

Article Business, Finance

New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index

Charles J. Hadlock et al.

REVIEW OF FINANCIAL STUDIES (2010)

Article Business

Environmental innovation and environmental performance

Carmen E. Carrion-Flores et al.

JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT (2010)

Article Economics

Modeling endogenous technological change for climate policy analysis

Kenneth Gillingham et al.

ENERGY ECONOMICS (2008)

Article Business, Finance

The role of environmental disclosures as tools of legitimacy: A research note

Charles H. Cho et al.

ACCOUNTING ORGANIZATIONS AND SOCIETY (2007)

Article Economics

Do lenders favor politically connected firms? Rent provision in an emerging financial market

AI Khwaja et al.

QUARTERLY JOURNAL OF ECONOMICS (2005)

Article Business, Finance

The relation among disclosure, returns, and trading volume information

O Kim et al.

ACCOUNTING REVIEW (2001)