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Untangling the Impact of Green Finance on the Enterprise Green Performance: A Meta-Analytic Approach

Author

Listed:
  • Hengjie Xu

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Qiang Mei

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Fakhar Shahzad

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Suxia Liu

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Xingle Long

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Jingjing Zhang

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

Abstract

In recent years, with sustainable development strategies, the conflict between economic development and natural resources has become increasingly severe. Meanwhile, green finance’s emergence is due to the rethinking of human economic activities under global warming conditions and the energy crisis. Thus, this study aims to analyze the relationship between green finance and enterprise green performance using a meta-analytic approach. This study has used Comprehensive Meta-Analysis Software (CMA) 2.0 for meta-analysis and applied the Hunter and Schmidt model for statistical analysis to test the proposed hypotheses. This study finds a significant positive correlation between green finance and enterprise green performance and proves that firm type and region play a moderating role in the relationship between green finance and enterprise green performance. However, profitability does not significantly moderate the relationship between green finance and enterprise green performance.

Suggested Citation

  • Hengjie Xu & Qiang Mei & Fakhar Shahzad & Suxia Liu & Xingle Long & Jingjing Zhang, 2020. "Untangling the Impact of Green Finance on the Enterprise Green Performance: A Meta-Analytic Approach," Sustainability, MDPI, vol. 12(21), pages 1-16, October.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:21:p:9085-:d:438377
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    3. Shanshan Li & Gaoweijia Wang & Li Yang & Jichao Geng & Junqi Zhu, 2022. "Analysis and Prediction of the Coupling and Coordinated Development of Green Finance–Environmental Protection in China," Sustainability, MDPI, vol. 14(15), pages 1-20, August.
    4. Gaoweijia Wang & Shanshan Li & Li Yang, 2022. "Research on the Pathway of Green Financial System to Implement the Realization of China’s Carbon Neutrality Target," IJERPH, MDPI, vol. 19(4), pages 1-18, February.
    5. Liu, Sheng & Wang, Yukai, 2023. "Green innovation effect of pilot zones for green finance reform: Evidence of quasi natural experiment," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).
    6. Yanwei Lyu & Yangyang Bai & Jinning Zhang, 2024. "Green finance policy and enterprise green development: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 414-432, January.
    7. Meili Tang & Jia’ni Ding & Haojia Kong & Brandon J. Bethel & Decai Tang, 2022. "Influence of Green Finance on Ecological Environment Quality in Yangtze River Delta," IJERPH, MDPI, vol. 19(17), pages 1-12, August.
    8. Decai Tang & Hui Zhong & Jingyi Zhang & Yongguang Dai & Valentina Boamah, 2022. "The Effect of Green Finance on the Ecological and Environmental Quality of the Yangtze River Economic Belt," IJERPH, MDPI, vol. 19(19), pages 1-17, September.
    9. Xiaoli Zhang & Guoyi Xiu & Fakhar Shahzad & Yupeng Duan, 2021. "Optimal Financing Strategy in a Capital-Constrained Supply Chain with Retailer Green Marketing Efforts," Sustainability, MDPI, vol. 13(3), pages 1-19, January.
    10. Liu, Yang & Dilanchiev, Azer & Xu, Kaifei & Hajiyeva, Aytan Merdan, 2022. "Financing SMEs and business development as new post Covid-19 economic recovery determinants," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 554-567.
    11. Sharma, Gagan Deep & Verma, Mahesh & Shahbaz, Muhammad & Gupta, Mansi & Chopra, Ritika, 2022. "Transitioning green finance from theory to practice for renewable energy development," Renewable Energy, Elsevier, vol. 195(C), pages 554-565.

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