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The impact of green finance on persistence of green innovation at firm-level: A moderating perspective based on environmental regulation intensity

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  • Jing, Ruifeng
  • Liu, Ruizhi

Abstract

Amid escalating global climate change and environmental degradation, green finance has emerged as a crucial tool for sustainable development and environmental protection. This paper examines data from Chinese A-share listed manufacturing companies (2004–2021), exploring the relationship between green finance, firms' persistent green innovation, and environmental regulation intensity. Key findings include: 1. There is a positive correlation between green finance and persistent green innovation; 2. Environmental regulation intensity moderates this relationship; 3. Heterogeneity analysis reveals a stronger promotion of persistent green innovation by green finance in large-scale and state-owned enterprises.

Suggested Citation

  • Jing, Ruifeng & Liu, Ruizhi, 2024. "The impact of green finance on persistence of green innovation at firm-level: A moderating perspective based on environmental regulation intensity," Finance Research Letters, Elsevier, vol. 62(PB).
    • Handle: RePEc:eee:finlet:v:62:y:2024:i:pb:s1544612324003040
    DOI: 10.1016/j.frl.2024.105274
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    Cited by:

    1. Tong Li & Nengsheng Luo, 2024. "Dividend Payments and Persistence of Firms’ Green Innovation: Evidence from China," Sustainability, MDPI, vol. 16(18), pages 1-29, September.

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