Green innovation's impact on corporate financing: New insights from BRICS economies
Publication Name
Finance Research Letters
Abstract
Enterprises are increasingly adopting green innovation strategies to reduce their environmental footprint and enhance their competitive positioning. However, how this shift towards sustainability influences corporate financing is less known in the literature. Therefore, this study aims to investigate the impact of green innovation on corporate financing in BRICS countries. Using data from 2010 to 2022 and system GMM for analysis, it finds that green innovation positively influences corporate financing. This highlights the growing importance of sustainable practices in shaping financial decisions. The study adds to the literature on the link between environmental sustainability and corporate finance, emphasizing sustainability's role in corporate financial strategies.
Open Access Status
This publication is not available as open access
Volume
62
Article Number
105172
Funding Number
72272060
Funding Sponsor
National Natural Science Foundation of China