How Does Green Insurance Affect Green Innovation? Evidence from China

Yucai Hu, Shaorui Du, Yukun Wang () and Xinya Yang
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Yucai Hu: School of Economics and Management, Yanshan University, Qinhuangdao 066004, China
Shaorui Du: School of Economics and Management, Yanshan University, Qinhuangdao 066004, China
Yukun Wang: School of Economics and Management, Yanshan University, Qinhuangdao 066004, China
Xinya Yang: School of Economics and Management, Yanshan University, Qinhuangdao 066004, China

Sustainability, 2023, vol. 15, issue 16, 1-15

Abstract: In the context of the rapid development of green finance, this paper examines the impact of green insurance on green innovation. Based on panel data of listed firms from 2008 to 2020, we find that green insurance significantly increased firms’ green patent applications. The mechanisms driving this positive relationship between green insurance and green innovation include that the insured firms are able to obtain more resources, are more willing to take risks, and are more likely to have a long-term vision. Further analysis shows that green insurance can enhance a firm’s environmental performance by promoting green innovation. This study deepens our understanding of green insurance and enriches the research related to green finance.

Keywords: green innovation; green insurance; environmental performance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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