• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Quaterly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Managing Editor: Ms. Shira. W. Lu
    • Abstracting/ Indexing:  Crossref, Electronic Journals Library , EBSCO
    • E-mail: ijtef.editorial.office@gmail.com
IJTEF 2022 Vol.13(3): 61-65 ISSN: 2010-023X
DOI: 10.18178/ijtef.2022.13.3.725

Green Finance and Green Innovation of Heavily-polluting Industries: Evidence from Chinese Listed Companies

Yalin Jiang, Fengying Wang, Chong Guo, and Yingyu Wu

Abstract—While supporting the development of green industries, the upgrading and transformation of heavily-polluting (HP) industries are of great significance to the achievement of the dual objectives of economic advancement and environmental protection in China. Green innovation (GI) is a crucial measure to address the development threats faced by HP industries. This paper studies the impact of green finance (GF) on the HP firms’ GI, the results show a positive association between GF and HP firms’ GI, indicating that GF can stimulate HP firms to improve their GI. Additionally, the positive effect of GF on GI is heterogeneous depending on property rights and corporate regions, state-owned enterprises, and companies located in central and eastern regions have a higher level of green innovation. Our findings provide important policy implications for promoting HP firms’ green development.

Index Terms—Heavily-polluting industries, green finance, green innovation, China.

Yalin Jiang, Chong Guo, and Yingyu Wu are with the Economics and Management Department, Southeast University, Nanjing, 211100, China (Corresponding author: Chong Guo; e-mail: jiangyalin89@163.com, guochong006626@163.com, wuyingyu@seu.edu.cn).
Fengying Wang is with school of Business Administration, Zhejiang Gongshang University, Nanchang, 332020, China (e-mail: 156866656@qq.com).

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Cite: Yalin Jiang, Fengying Wang, Chong Guo, and Yingyu Wu, "Green Finance and Green Innovation of Heavily-polluting Industries: Evidence from Chinese Listed Companies," International Journal of Trade, Economics and Finance vol.13, no.3, pp. 61-65, 2022.

Copyright © 2022 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

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