Harnessing the green frontier: The impact of green finance reform and digitalization on corporate green innovation

•Green finance reform coupled with digital transformation significantly enhances the level of corporate green innovation.•This effect is more pronounced in non-state-owned enterprises.•This effect is more pronounced in manufacturing enterprises. This paper empirically examines the impact of green fi...

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Bibliographic Details
Published in:Finance research letters 2024-08, Vol.66, p.105554, Article 105554
Main Authors: Huang, Fei, Ren, Yuheng
Format: Article
Language:English
Subjects:
Corporate green innovation
Digitalization
Green finance reform
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Summary:•Green finance reform coupled with digital transformation significantly enhances the level of corporate green innovation.•This effect is more pronounced in non-state-owned enterprises.•This effect is more pronounced in manufacturing enterprises. This paper empirically examines the impact of green finance reform and digitalization on corporate green innovation among non-financial and real estate listed companies in China's capital market using a generalized difference-in-differences method. The results indicate that green finance reform coupled with digital transformation significantly enhances the level of corporate green innovation. Further, heterogeneity tests reveal that the promoting effect of green finance reform and digitalization on corporate green innovation is more pronounced in non-state-owned and manufacturing enterprises.
ISSN:1544-6123
1544-6131
DOI:10.1016/j.frl.2024.105554