Green Finance Reform: How to Drive a Leap in the Quality of Green Innovation in Enterprises?

Improving green innovation quality is a critical component for speeding green transformation and generating high-quality growth. This study examines the link between the pilot zone for green finance reform and innovations (PZGFRI) policy and the quality of green innovation in Chinese A-share listed...

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Bibliographic Details
Published inSustainability Vol. 17; no. 15; p. 7085
Main Authors Chen, Shuying, Gao, Da, Tan, Linfang
Format Journal Article
LanguageEnglish
Published Basel MDPI AG 05.08.2025
Subjects
Carbon
Clean technology
Economic development
Efficiency
Environmental protection
Financial institutions
Financial systems
Green bonds
Green economy
Incentives
Innovations
Investments
Research & development expenditures
China
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Summary:Improving green innovation quality is a critical component for speeding green transformation and generating high-quality growth. This study examines the link between the pilot zone for green finance reform and innovations (PZGFRI) policy and the quality of green innovation in Chinese A-share listed firms from 2010 to 2020. This study demonstrates that the PZGFRI may greatly enhance the quality of enterprises’ green innovation. Additionally, by promoting environmental investment and reducing financial barriers, we use the mediating effect model to confirm that the PZGFRI improves the enterprises’ quality of green innovation. Meanwhile, the heterogeneity analysis demonstrates that the PZGFRI is more successful in raising the green innovation quality in state-owned, large-sized, and heavily polluting businesses. Our study’s findings offer a strong theoretical basis for improving the PZGFRI and encouraging businesses to undergo high-quality transformation.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
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ISSN:2071-1050
2071-1050
DOI:10.3390/su17157085