Does green finance promote the transformation and upgrading of manufacturing enterprises? Empirical research based on micro survey data in China

Mengna Wang and Xingchao Ma

Finance Research Letters, 2024, vol. 69, issue PB

Abstract: This paper derives six research hypotheses related to the transformation and upgrading of green finance and manufacturing enterprises based on theoretical and literature analysis, and uses multi-stage non-strict πPSsampling method for micro data collection. The empirical study finds that green finance significantly promotes the transformation and upgrading of manufacturing enterprises. The transmission mechanism test based on the mediating effect model finds that resource allocation innovation, technological innovation, product innovation, organizational innovation and market innovation all play a partial mediating role in the process of green finance promoting the transformation and upgrading of manufacturing enterprises.

Keywords: Green finance; Manufacturing enterprises; Transformation and upgrading; Impact effects; Transmission mechanisms (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324012133

DOI: 10.1016/j.frl.2024.106184

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