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Green consumption, financial synergy, and energy consumption efficiency

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  • Li, Fan
  • Gong, Xuyun

Abstract

From the perspective of green consumption, this paper explores the mechanism by which green consumption affects energy consumption efficiency, introducing financial synergy as a mediating variable to construct a theoretical analysis framework and empirical model. Based on provincial and listed company panel data from 2013 to 2023, the empirical results are as follows: First, green consumption contributes to improving energy consumption efficiency; second, the promotion effect of green consumption on energy consumption efficiency exhibits heterogeneity across regions with different levels of economic development; third, financial synergy plays a mediating role in the pathway through which green consumption influences energy efficiency; fourth, the mediating effect of financial synergy between green consumption and energy consumption efficiency also demonstrates heterogeneity among regions with varying economic development levels.

Suggested Citation

  • Li, Fan & Gong, Xuyun, 2026. "Green consumption, financial synergy, and energy consumption efficiency," Finance Research Letters, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:finlet:v:87:y:2026:i:c:s1544612325020562
    DOI: 10.1016/j.frl.2025.108802
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