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Establishment of environmental protection courts, green finance, and corporate operating performance

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  • Zheng, Yaoqi

Abstract

Based on panel data from Chinese prefecture-level cities and listed companies from 2011 to 2023, this paper explores the relationship between the establishment of environmental protection courts (EEPC), green finance (GF), and corporate operating performance, and analyzes the moderating effect of GF on the relationship between EEPC and corporate operating performance. The research results indicate that, first, EEPC significantly enhances corporate operating performance. Secondly, the development of GF has a significant positive impact on corporate operating performance. In addition, GF plays a significant moderating role in the relationship between EEPC and corporate operating performance. Finally, the moderating effect of GF is more pronounced in high-pollution industries and large-scale enterprises. This paper provides theoretical support for policymakers promoting the development of EEPC and GF and offers empirical evidence for the formulation and optimization of related policies.

Suggested Citation

  • Zheng, Yaoqi, 2026. "Establishment of environmental protection courts, green finance, and corporate operating performance," Finance Research Letters, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:finlet:v:90:y:2026:i:c:s1544612325025504
    DOI: 10.1016/j.frl.2025.109301
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