Digital finance, financial flexibility and corporate green innovation

Mengzhu Chen, Shuai Liu and Lihui Gao

Finance Research Letters, 2024, vol. 70, issue C

Abstract: This paper analyzes the impact of digital finance on corporate green innovation. The results show that both financial flexibility and digital finance have a positive impact on corporate green innovation, and financial constraints play an intermediary role. Digital finance plays a moderating role in the relationship between financial flexibility and corporate green innovation. The results of heterogeneous grouping show that the positive effect of financial flexibility on green innovation of non-state-owned enterprises, high-tech enterprises and mature enterprises is more significant. Digital finance has a more significant impact on the green innovation level of state-owned enterprises and non-high-tech enterprises.

Keywords: Digital finance; Financial flexibility; Corporate green innovation; Financing constraints; Heterogeneity (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324013424

DOI: 10.1016/j.frl.2024.106313

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