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The Impact of Green Capital Structure on Enterprise Development and the Regulation of Technological Innovation under Carbon Peaking

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  • Maochun Zhou

    (School of Business Administration, Liaoning Technical University, Huludao 125105, China)

  • Rui Fan

    (School of Business Administration, Liaoning Technical University, Huludao 125105, China)

Abstract

The introduction of the “double carbon” target has placed higher and newer demands on China’s economic development, which must rely on investment in green capital. In today’s knowledge-based economy, one of the most important factors influencing the growth of enterprises is technological innovation. Based on the data of A-share listed companies in China from 2016 to 2020, this paper empirically tests whether the green capital structure of enterprises can promote the development of enterprises through regression analysis. The study shows that green capital structure has a significant promotion effect on enterprise development; technological innovation will weaken the promotion effect of green capital structure on enterprise development to a certain extent. The paper further shows that the higher the cash flow from operating activities, the higher the concentration of equity and the non-state-owned enterprises, the more conducive the green capital structure is to enterprise development. Finally, the article’s findings are supported by robustness tests. It is conducive to promoting the development of a green economy and facilitating the transformation and upgrading of China’s economy while protecting the environment.

Suggested Citation

  • Maochun Zhou & Rui Fan, 2023. "The Impact of Green Capital Structure on Enterprise Development and the Regulation of Technological Innovation under Carbon Peaking," Sustainability, MDPI, vol. 15(7), pages 1-19, March.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:7:p:5743-:d:1107020
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    Citations

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    Cited by:

    1. Junhua Chen & Qiaochu Li & Peng Zhang & Xinyi Wang, 2024. "Does Technological Innovation Efficiency Improve the Growth of New Energy Enterprises? Evidence from Listed Companies in China," Sustainability, MDPI, vol. 16(4), pages 1-28, February.
    2. Tong Tang & Chun-Ai Ma & Heng-Yu Lv & Fu-Ying Hao, 2023. "The Effect of Corporate Resource Abundance on the Transformation and Upgrading of Manufacturing Enterprises from the Perspective of Whole Process Innovation," Sustainability, MDPI, vol. 15(14), pages 1-31, July.

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