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Role of green financing and corporate social responsibility (CSR) in technological innovation and corporate environmental performance: a COVID-19 perspective

Author

Listed:
  • Ala Eldin Awawdeh
  • Mohammed Ananzeh
  • Ahmad Ibrahiem El-khateeb
  • Ahmad Aljumah

Abstract

Purpose - The aim of this study is to estimate the relationship between technological innovation and corporate environmental performance among energy companies working in Egypt. Design/methodology/approach - The study extended the aim with the intention to assess the role of green financing in enhancing corporate environmental performance. Partial least squares (PLS)-based structural equation modeling (SEM) is applied to estimate the nexus among study variables. Findings - The results indicated that technological innovation influenced environmental performance and has a positive impact on company performance. The role of green financing for environmental performance is also significant and positive. Moreover, corporate social responsibility (CSR) has insignificant role in environmental performance of the energy companies in the study context. Research limitations/implications - The study offers a valuable model for general managers of manufacturing organizations and policymakers to manage CSR, environmental strategy and green innovation in examining environmental performance. It can help to assist general managers of large manufacturing organizations to strengthen their internal resources like CSR, environmental strategy and green innovation to enhance environmental performance. Practical implications - The findings of this article will help the practitioners to design policies regarding sustainable energy systems and green finance in the presence of any natural calamity. Originality/value - This study primarily complements the existing literature by establishing how green financing and CSR can augment and/or interact between technological innovation and corporate environmental performance under COVID-19 crises, in a developing country.

Suggested Citation

  • Ala Eldin Awawdeh & Mohammed Ananzeh & Ahmad Ibrahiem El-khateeb & Ahmad Aljumah, 2021. "Role of green financing and corporate social responsibility (CSR) in technological innovation and corporate environmental performance: a COVID-19 perspective," China Finance Review International, Emerald Group Publishing Limited, vol. 12(2), pages 297-316, August.
    • Handle: RePEc:eme:cfripp:cfri-03-2021-0048
    DOI: 10.1108/CFRI-03-2021-0048
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    Citations

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    Cited by:

    1. Jianmu Ye & Efifania Dela, 2023. "The Effect of Green Investment and Green Financing on Sustainable Business Performance of Foreign Chemical Industries Operating in Indonesia: The Mediating Role of Corporate Social Responsibility," Sustainability, MDPI, vol. 15(14), pages 1-28, July.
    2. Zhang, Dongyang & Wang, Jinli & Wang, Yizhi, 2023. "Greening through centralization of environmental monitoring?," Energy Economics, Elsevier, vol. 123(C).
    3. Omar Al-Kasasbeh & Suhaib Mohammed Al-Khazaleh & Ghaith Alsheikh, 2024. "The Dynamic Impact of Environmental Sustainability, Green Finance, and FinTech on Energy Efficiency in Middle Eastern Economies," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 574-579, July.
    4. Liu, Qingrui & Tang, Lu, 2022. "Research on the accelerating effect of green finance on the transformation of energy consumption in China," Research in International Business and Finance, Elsevier, vol. 63(C).
    5. Peng, Dan & Ji, Y. & Kong, Qunxi, 2023. "OFDI and firms' sustainable productive capacity: Evidence from Chinese industrial firms," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 641-652.
    6. Sinha, Avik & Ghosh, Vinit & Hussain, Nazim & Nguyen, Duc Khuong & Das, Narasingha, 2023. "Green financing of renewable energy generation: Capturing the role of exogenous moderation for ensuring sustainable development," Energy Economics, Elsevier, vol. 126(C).
    7. Bhaskar, Ratikant & Li, Peigong & Bansal, Shashank & Kumar, Satish, 2023. "A new insight on CEO characteristics and corporate social responsibility (CSR): A meta-analytical review," International Review of Financial Analysis, Elsevier, vol. 89(C).
    8. Lin, Xiaowei & Li, Ao & Zhang, Pengdong & Chen, Wenchuan, 2023. "The disciplinary role of product market competition on cash holding," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 653-671.
    9. Anh Huu Nguyen & Mai Hoang Thi Do & Thinh Gia Hoang & Loan Quynh Thi Nguyen, 2023. "Green financing for sustainable development: Insights from multiple cases of Vietnamese commercial banks," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 321-335, January.
    10. Liu, Na & Chen, Wenchuan & Wang, Jianyong & Shi, Huaizhi, 2023. "Typhoon strikes, distracted analyst and forecast accuracy: Evidence from China," Finance Research Letters, Elsevier, vol. 51(C).

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