| Title | Financial-industrial integration, green technology innovation, and enterprise's green development performance: an empirical analysis of 625 listed industrial enterprises of China |
|---|---|
| ID_Doc | 30532 |
| Authors | Li, Z; He, LY; Zhong, ZQ; Xia, YF |
| Title | Financial-industrial integration, green technology innovation, and enterprise's green development performance: an empirical analysis of 625 listed industrial enterprises of China |
| Year | 2024 |
| Published | Environment Development And Sustainability, 26, 2 |
| Abstract | Based on the panel data of 625 industrial listed enterprises of China from 2012 to 2020, this paper employs the method of propensity score matching-difference in difference to investigate the effect of financial-industrial integration on the enterprise's green development performance and the moderating role of green technology innovation on the relationship between the two is also addressed. It finds that first, financial-industrial integration has a significant promoting effect on the improvement in green development performance of enterprises, and green technology innovation has a positive moderating effect on the relationship between the two. In addition, the effect of financial-industrial integration on enterprise's economic and social performance is not significant, and it mainly promotes enterprise's green development by stimulating environmental performance. Moreover, the degree of financial-industrial integration has a moderate range in which the role of financial-industrial integration can be better played. Further, compared with state-owned enterprise and large-scale enterprise, financial-industrial integration is more conducive to the green development of non-state-owned enterprises and small-scale enterprises. |
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