The impact of the degree of coupling coordination between green finance and environmental regulations on firms’ innovation performance: evidence from China

Tianle Yang (), Zhennan Sun (), Min Du (), Qunyang Du (), Lei Li () and Fatima Shuwaikh ()
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Tianle Yang: Zhejiang University of Technology
Zhennan Sun: Zhejiang University of Technology
Min Du: Edinburgh Napier University
Qunyang Du: Zhejiang University of Technology
Lei Li: University of Nottingham (China Campus)
Fatima Shuwaikh: Léonard de Vinci Pôle Universitaire, Research Center

Annals of Operations Research, 2025, vol. 347, issue 1, No 8, 173-195

Abstract: Abstract Integrating the resource-based view and institution-based view theories, this paper examines the impact of the degree of coupling coordination between green finance and environmental regulations on firms’ innovation performance. Using a sample of 1698 listed firms in China from 2008 to 2017, we find that the degree of coupling coordination between the regional green finance development level and environmental regulations is positively related to firms’ innovation performance. Further, the results show that the degree of state ownership and government governance efficiency strengthen this positive relationship. We deepen our understanding of how environmental institutions coordinate to affect firms’ innovation performance by combining the resource- and institution-based view theories.

Keywords: The degree of coupling coordination; Green finance; Environmental regulations; Degree of state ownership; Government governance efficiency; Innovation performance (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10479-023-05704-9

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