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Digital finance, financial flexibility and corporate green innovation

Author

Listed:
  • Chen, Mengzhu
  • Liu, Shuai
  • Gao, Lihui

Abstract

This paper analyzes the impact of digital finance on corporate green innovation. The results show that both financial flexibility and digital finance have a positive impact on corporate green innovation, and financial constraints play an intermediary role. Digital finance plays a moderating role in the relationship between financial flexibility and corporate green innovation. The results of heterogeneous grouping show that the positive effect of financial flexibility on green innovation of non-state-owned enterprises, high-tech enterprises and mature enterprises is more significant. Digital finance has a more significant impact on the green innovation level of state-owned enterprises and non-high-tech enterprises.

Suggested Citation

  • Chen, Mengzhu & Liu, Shuai & Gao, Lihui, 2024. "Digital finance, financial flexibility and corporate green innovation," Finance Research Letters, Elsevier, vol. 70(C).
    • Handle: RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324013424
    DOI: 10.1016/j.frl.2024.106313
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