Research on the Impact of Financial Development on the Enterprises'Green Innovation Development
Enterprises are the micro entities of green technology innovation and the main carriers of eco-nomic green transformation,and financial development plays a crucial role in the green technology innova-tion of enterprises.Based on the A-share listed companies in Shanghai and Shenzhen from 2009 to 2021,this study empirically examines the impact of financial development on the green innovation development of listed companies.The research results show that financial development has a significant promoting ef-fect on the green innovation development of listed companies.In the samples of polluting enterprises and non polluting enterprises,financial development has a greater promoting effect on the green innovation de-velopment of polluting enterprises.The level of financial development can not only directly promote the green development of enterprises,but also indirectly promote their green development by influencing fi-nancing constraints,innovation investment,and debt structure.In addition,the nature of property rights and media attention can significantly regulate the impact of financial development on the green innovation de-velopment of enterprises.State owned enterprises and enterprises with higher media attention can better promote their own green innovation development in their respective regions.
financial developmentgreen innovation of enterprisesmediation effectproperty rights na-turemedia attention
NETL
NSTL
万方数据
维普
