Can green finance supports improve environmental firm performance? Evidence from listed environmental firms in China

Siyu Huang and Zhongwei Luan

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

Abstract: This study analyzes how green finance supports affect environmental protection firms’ economic and social performance. Furthermore, we explore how financing constraints and technological advancements mediate such relationship among the Chinese A-share market from 2014 to 2021. Findings reveal that supports in sustainable financial practices positively affect the social performance of firms, whereas an inverse U-shaped relationship exists between green finance supports and economic performance. Moreover, green finance support initiatives improve firms’ social and economic performance by lowering financing barriers and fostering innovation.

Keywords: Green finance; Economic performance; Social performance (search for similar items in EconPapers)
JEL-codes: G11 G32 M14 O35 Q55 Q56 (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:s1544612324013503

DOI: 10.1016/j.frl.2024.106321

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