How does green economic recovery impact social and financial performance?

Yunpeng Sun (), Weimin Guan (), Hong Jiang () and Jiayu Yang ()
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Yunpeng Sun: Tianjin University of Commerce
Weimin Guan: Tianjin University of Commerce
Hong Jiang: Tianjin University of Commerce
Jiayu Yang: Nankai University

Economic Change and Restructuring, 2023, vol. 56, issue 2, No 7, 859-878

Abstract: Abstract Environmental concerns and sustainability topics are becoming more critical in the financial sector. This study examines the links between ecological, economic, and financial performance and bank efficiency variables in the post-global financial crisis era. We gathered data from the Refinitiv database on 30 Asian banks from 2007 to 2018. Our findings link emissions reductions to financial profitability. Operating and economic efficiency may conflict with goods caliber and organizational accountability standards. Furthermore, improving a bank's corporate governance framework has been shown to negatively impacts the capital structure. It has several conceptual consequences. As banks express concern about environmental sustainability and eco-friendly goods and processes, sector hypotheses and information views have been validated. However, the investor hypotheses forecasting a favorable association between corporate social responsibility (CSR) and financial success were contradicted. Contrary to the organization hypothesis, listed companies' efficiency negatively influences financial efficiency and trade value. This might indicate that financial institutions do not appreciate a bank's social responsibility activities or support implementing the best measures that decrease portfolio risk.

Keywords: Financial development; Financial system; Green economic recovery; Banking system; Asian banks (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10644-022-09453-w

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