Performance Evaluation of Green Finance in Supporting the Development of the New Energy Sector

Peilin Yang ()
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Peilin Yang: Shandong University of Finance and Economics, Institute of Economics

A chapter in Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025), 2025, pp 773-784 from Springer

Abstract: Abstract This study investigates the impact of green financial instruments on the profitability of new energy enterprises in China using panel data from 2019 to 2023. Drawing on fixed effects regression analysis, the results reveal that green credit and green equity financing significantly enhance firm-level net profit, highlighting their dual role in supporting both short-term liquidity and long-term growth. In contrast, green bonds exhibit a negative relationship with profitability. Additionally, carbon emission intensity imposes a significant financial burden on firms, while variables such as disclosure quality and firm age are not statistically significant. The findings underscore the structural heterogeneity in green finance effectiveness and call for improvements in policy alignment, financial institution capacity, and the diversity of financing tools. The study provides theoretical insights and practical policy recommendations for optimizing green finance as a strategic driver of sustainable development in the new energy sector.

Keywords: Green Finance Mechanisms; Emerging Energy Sector; Performance Evaluation; Carbon Emission Intensity (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-835-6_83

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DOI: 10.2991/978-94-6463-835-6_83

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