| Title | Green finance improves enterprises' environmental, social and governance performance: A two-dimensional perspective based on external financing capability and internal technological innovation |
|---|---|
| ID_Doc | 31374 |
| Authors | Zhang, HF; Wei, SY |
| Title | Green finance improves enterprises' environmental, social and governance performance: A two-dimensional perspective based on external financing capability and internal technological innovation |
| Year | 2024 |
| Published | Plos One, 19, 4 |
| Abstract | This paper takes the establishment of the Green Financial Reform and Innovation Pilot Zone (GFPZ) in 2017 as a natural experiment, adopts the data of a-share industrial listed enterprises in Shanghai and Shenzhen from 2010 to 2020, and utilizes the difference-in-differences (DID) method to carry out empirical tests. The results show that (1) GFPZ policy significantly improves the environmental, social, and governance (ESG) performance of enterprises, and the positive effect is mainly realized by improving the external financing ability and green-technology innovation level of enterprises. (2) There is heterogeneity in the impact of GFPZ policy on the ESG performance of firms with different equity natures and internal control levels. (3) Green finance promotes active corporate social responsibility, and it can further improve environmental governance in the regions where it operates. This paper provides a useful supplement to the comprehensive understanding of green-finance policy effects and ESG impact factors, and it is of great significance in mitigating the negative environmental and social externalities caused by the excessive pursuit of economic benefits by enterprises. |
| https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0302198&type=printable |
Similar Articles
| ID | Score | Article |
|---|---|---|
30083
|
Jiang, SS; Liu, XJ; Liu, ZL; Shi, H; Xu, HD Does green finance promote enterprises' green technology innovation in China?(2022) | |
| 35427
|
Wang, YF; Liu, J; Yang, XR; Shi, M; Ran, R The mechanism of green finance's impact on enterprises' sustainable green innovation(2023)Green Finance, 5, 3 | |
| 67371
|
Li, YR; Lin, AQ Assessing the impact of green finance on financial performance in Chinese eco-friendly enterprise(2024)Heliyon, 10, 7 | |
| 30139
|
Lu, N; Wu, JH; Liu, ZM How Does Green Finance Reform Affect Enterprise Green Technology Innovation? Evidence from China(2022)Sustainability, 14, 16 | |
| 35449
|
Gao, D; Mo, XL; Duan, K; Li, Y Can Green Credit Policy Promote Firms' Green Innovation? Evidence from China(2022)Sustainability, 14, 7 | |
| 35117
|
Fang, XB; Liu, MT; Li, GQ Can The Green Credit Policy Promote Green Innovation In Enterprises? Empirical Evidence From China(2024)Technological And Economic Development Of Economy, 30, 4 | |
| 35687
|
Lu, YC; Gao, YQ; Zhang, Y; Wang, JR Can the green finance policy force the green transformation of high-polluting enterprises? A quasi-natural experiment based on "Green Credit Guidelines"(2022) | |
| 30141
|
Li, X; Wang, SW; Lu, X; Guo, F Quantity or quality? The effect of green finance on enterprise green technology innovation(2023) | |
| 31329
|
Xue, XH; Luo, J; Wang, ZC; Ding, H Impact of Green Credit Policy on the sustainable growth of pollution-intensive industries: Evidence from China(2023) | |
| 30190
|
Zhao, MT; Fu, XB; Fang, GB; Cui, LB; Nassani, AA Exploring the impact of ESG ratings on enterprises' green technology innovation(2024) |