IDEAS home Printed from https://ideas.repec.org/a/taf/reroxx/v35y2022i1p5400-5419.html
   My bibliography  Save this article

Does green finance facilitate firms in achieving corporate social responsibility goals?

Author

Listed:
  • Zhuo Wang
  • Muhammad Sadiq Shahid
  • Nguyen Binh An
  • Mohsin Shahzad
  • Zulkiflee Abdul-Samad

Abstract

Socio-economic and environment-friendly initiatives are imperative to ensure sustainable development. And corporate social responsibility (CSR) emerged as a solution to create a balance in society through sustainable business performance. However, organizations need plentiful resources to comply with the philosophies of sustainability and CSR. Therefore, the current study explores the role of green financing that covers the social, environmental, and economic aspects of green financing for achieving, excelling and enhancing CSR in the banking sector. Through the employment of survey methodology and the application of Partial Least Square-Structural Equation Modelling (PLS-SEM), the data confirms the contributing role of green finance and its respective dimensions (Environmental, Economics, and Social) in enhancing the multiple facets of CSR. Based on these findings, it is recommended that the banking sector should allocate additional financial resources to promote CSR attributes.

Suggested Citation

  • Zhuo Wang & Muhammad Sadiq Shahid & Nguyen Binh An & Mohsin Shahzad & Zulkiflee Abdul-Samad, 2022. "Does green finance facilitate firms in achieving corporate social responsibility goals?," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 5400-5419, December.
  • Handle: RePEc:taf:reroxx:v:35:y:2022:i:1:p:5400-5419
    DOI: 10.1080/1331677X.2022.2027259
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1331677X.2022.2027259
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/1331677X.2022.2027259?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mohsin Shahzad & Abaid Ullah Zafar & Maoran Ye & Xiangan Ding, 2024. "Harmony in flux: Unraveling the green innovation with organizational forgetting, absorptive capacity, and the jazz of organizational improvisation," Business Strategy and the Environment, Wiley Blackwell, vol. 33(5), pages 4145-4161, July.
    2. Husain, Afzol & Karim, Sitara & Sensoy, Ahmet, 2024. "Financial fusion: Bridging Islamic and Green investments in the European stock market," International Review of Financial Analysis, Elsevier, vol. 94(C).
    3. Jia, Junsheng & He, Xiaoyu & Zhu, Taiyu & Zhang, Eryu, 2023. "Does green finance reform promote corporate green innovation? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    4. Faozi A. Almaqtari & Najib H. S. Farhan & Hamood Mohammed Al-Hattami & Tamer Elsheikh, 2023. "The moderating role of information technology governance in the relationship between board characteristics and continuity management during the Covid-19 pandemic in an emerging economy," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-16, December.
    5. Xin Xie & Shabnam Khan & Saqib Rehman & Shumaila Naz & Syed Arslan Haider & Umar Nawaz Kayani, 2024. "Ameliorating sustainable business performance through green constructs: a case of manufacturing industry," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(9), pages 22655-22687, September.
    6. Rahman, Md. Hasanur & Tanchangya, Tipon & Rahman, Junaid & Aktar, Most. Asikha & Majumder, Shapan Chandra, 2024. "Corporate social responsibility and green financing behavior in Bangladesh: Towards sustainable tourism," Innovation and Green Development, Elsevier, vol. 3(3).
    7. Wang, Pei & Xue, Weixian & Wang, Zhuan, 2024. "Fog and haze control and enterprise green total factor productivity - evidence from China," Finance Research Letters, Elsevier, vol. 65(C).
    8. Ali Nazarian & Mohsin Shahzad & Xiangan Ding & Andrea Appolloni, 2024. "Do TQM Instigate Sustainable Development: Identifying the Key Role of Green Innovation and Knowledge Management," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2499-2524, March.
    9. Zhang, Zhaoting & Zhang, Lei, 2024. "Government green procurement policies and corporate green total factor productivity," Finance Research Letters, Elsevier, vol. 65(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:reroxx:v:35:y:2022:i:1:p:5400-5419. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rero .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.