Content area

Abstract

Green finance is acknowledged as a critical policy tool in China’s sustainable development sector, with the goal of lowering the financial burden associated with ecological transformation for Chinese firms. This research examines the impact of green finance on the green innovation efficiency of the high-tech industry in China, within the context of carbon neutrality. Using a panel dataset covering 30 provinces, autonomous regions, and municipalities in China from 2013 to 2021, we analyze the effects of green finance on green innovation efficiency. Our findings indicate that green finance significantly improves the green innovation efficiency of the high-tech industry, even after robustness testing. Furthermore, this paper also explores the threshold effect of industrial agglomeration on the relationship between green finance and green innovation efficiency, specifically in terms of specialization, diversity, and competition. We verify that green finance reduces the costs of green transformation for enterprises, leading to a substantial improvement in the green innovation efficiency of the high-tech industry. These results shed light on the factors influencing green innovation efficiency and provide theoretical insights and implications for policymakers, entrepreneurs, and financial institutions to reconcile economic growth and sustainability goals.

Details

Title
From green finance to sustainable innovation: how to unleash the potential of China’s high-tech industry
Author
Xiao, Yi 1 ; Shi, Xiongtian 1 ; Kong, Li 1 

1  Yunnan University, College of Business and Tourism Management, Kunming, China (GRID:grid.440773.3) (ISNI:0000 0000 9342 2456) 
Pages
123368-123382
Publication year
2023
Publication date
Dec 2023
Publisher
Springer Nature B.V.
ISSN
09441344
e-ISSN
16147499
Source type
Scholarly Journal
Language of publication
English
DOI
https://doi.org/10.1007/s11356-023-30940-8
ProQuest document ID
2904813673
Copyright
© The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2023. Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.