The impact of green investment policies on the development of new energy enterprises: Analysis based on heterogeneity and threshold effects

Hu Zhang and Wei Wei

Finance Research Letters, 2025, vol. 83, issue C

Abstract: This study explores the impact of green investment policies on the development of China’s new energy industry (2016-2022) using heterogeneity analysis and the threshold effect model. Findings reveal that green investment policies, including financial subsidies and green credit, significantly boost enterprises' operating income, R&D investment, and profitability. The policy effect exhibits a nonlinear threshold, with stronger effects at higher policy intensities. Additionally, the effect is more pronounced for companies with low financing constraints. The results offer valuable insights for optimizing green investment policy design and improving policy precision.

Keywords: New energy enterprises; Green investment policies; Threshold effects (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325009626

DOI: 10.1016/j.frl.2025.107703

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