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Enterprise financial management and fossil fuel energy efficiency for green economic growth

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  • Zhang, Pei
  • Hao, Dongyang

Abstract

This paper measures the associations between digital financial development and fossil fuel resource efficiency with green growth for 100 A-listed Chinese companies from 2010 to 2021. Employing the CUM-FM panel co-integration estimator, the findings confirmed that the fossil fuel resource efficiency positively affects the green growth of the examined enterprises. The development of digital finance in the financial sector of the companies studied in China has positive and significant coefficients. Moreover, there is a bi-directional causality nexus between fossil fuel efficiency –green growth, where an uni-directional causality nexus exists from digital finance to green growth in the examined Chinese enterprises. The provided insights by this research recommend policymakers and enterprises develop the green R&D (Research & Development) investment, implementation of the “ICT (Information and Communication Technology) equality” plans in different provinces, and promotion of green employment.

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  • Zhang, Pei & Hao, Dongyang, 2023. "Enterprise financial management and fossil fuel energy efficiency for green economic growth," Resources Policy, Elsevier, vol. 84(C).
    • Handle: RePEc:eee:jrpoli:v:84:y:2023:i:c:s0301420723004749
    DOI: 10.1016/j.resourpol.2023.103763
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    Cited by:

    1. Wang, Zhen & Huang, Yaoxuan & Ankrah, Victoria & Dai, Jiapeng, 2023. "Greening the knowledge-based economies: Harnessing natural resources and innovation in information and communication technologies for green growth," Resources Policy, Elsevier, vol. 86(PA).
    2. Sen Wang & Jinye Li, 2023. "Does Digital Transformation Promote Green and Low-Carbon Synergistic Development in Enterprises? A Dynamic Analysis Based on the Perspective of Chinese Listed Enterprises in the Heavy Pollution Indust," Sustainability, MDPI, vol. 15(21), pages 1-22, November.
    3. Eirini Stavropoulou & Konstantinos Spinthiropoulos & Konstantina Ragazou & Christos Papademetriou & Ioannis Passas, 2023. "Green Balanced Scorecard: A Tool of Sustainable Information Systems for an Energy Efficient Business," Energies, MDPI, vol. 16(18), pages 1-18, September.

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    More about this item

    Keywords

    Fossil fuel resource efficiency; Green growth; Digital finance; Panel co-integration approach; China;
    All these keywords.

    JEL classification:

    • N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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