Green finance, climate change, and green innovation: Evidence from China

Fuyong Chen, Xiao Zeng and Xiang Guo

Finance Research Letters, 2024, vol. 63, issue C

Abstract: This study examines the relationship between the development of green finance and corporate green innovation. The research results indicate that the development of green finance significantly improves the level of green innovation in enterprises, which can simultaneously increase the quantity and quality of innovation. This conclusion still holds after adopting lagged regression and excluding the digital finance effect. The examination of the impact mechanism reveals that financing cost play a mediating role in this effect. In addition, we find that the development of green finance has a more significant promoting effect on green innovation when climate change is high.

Keywords: Green finance; Climate change; Green innovation; Financing cost (search for similar items in EconPapers)
JEL-codes: D24 O32 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:63:y:2024:i:c:s1544612324003131

DOI: 10.1016/j.frl.2024.105283

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