Green Finance and Corporate Green Innovation: A Systematic Literature Review

Min Liu, Mohd Hasimi Yaacob, Qingbo Ma and Siyu Ding

SAGE Open, 2025, vol. 15, issue 3, 21582440251370800

Abstract: Green finance and corporate green innovation have become pivotal in addressing ecological and environmental challenges amidst worsening global environmental conditions. This study aims to provide a systematic explanation of the factors through which green finance promotes corporate green innovation. By qualitatively synthesizing 42 studies published between 2019 and 2024, the research identifies four key factors influencing this relationship. These include two direct aspects—financial support and policy guidance—and two indirect aspects—financing constraints and term restructuring. The analysis reveals a research gap in market-based financing, where most studies focus on credit financing, while discussions on diverse instruments like green bonds and green equities remain limited. Additionally, the impact of policy uncertainty, particularly on long-term investment decisions is underexplored. Existing research primarily emphasizes easing financing constraints, with limited attention to how green finance can also support green innovation by extending funding horizons through term restructuring. Future research should focus on these areas to deepen understanding and enhance practical applications.

Keywords: green finance; corporate green innovation; financial support; policy guidance; financing constraints (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/21582440251370800 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:sagope:v:15:y:2025:i:3:p:21582440251370800

DOI: 10.1177/21582440251370800

Access Statistics for this article

More articles in SAGE Open
Bibliographic data for series maintained by SAGE Publications ().