CCPortal
DOI10.1016/j.enpol.2021.112252
Does green investment improve energy firm performance?
Chen Y.; Ma Y.
发表日期2021
ISSN03014215
卷号153
英文摘要This paper aims to provide new evidence on the relationship between green investment and firm performance through micro-level data. Data of energy listed firms in China from 2008 to 2017 are used here to explore this relationship. The research results show that green investment has a significant and positive correlation with financial performance, that is, increasing green investment helps improve financial performance. In the third year after investment in energy conservation and emission reduction, financial performance has been significantly improved. Additionally, environmental tax, government subsidies, and technological innovation have different positive moderating effects on green investment in promoting financial performance, and this result is more obvious in the long-term performance. Lastly, this paper finds that green investment helps reduce environmental violations and promote environmental performance, and environmental performance can strengthen the impact of green investment in improving the long-term performance of firms. This conclusion implies that firms should take environmental investment as its long-term strategy. © 2021 Elsevier Ltd
关键词Energy conservation and emission reductionEnergy listed firmsEnvironmental policyFinancial performanceGreen investment
英文关键词Energy conservation; Environmental management; Investments; Energy; Energy conservation and emission reductions; Energy listed firm; Environmental performance; Environmental policy; Financial performance; Firm Performance; Green investment; Investment performance; Long term performance; Emission control; emission control; energy conservation; environmental economics; environmental policy; environmental tax; industrial performance; investment; China
语种英语
来源期刊Energy Policy
文献类型期刊论文
条目标识符http://gcip.llas.ac.cn/handle/2XKMVOVA/205052
作者单位College of Business Administration, Capital University of Economics and Business, Beijing, 100070, China
推荐引用方式
GB/T 7714
Chen Y.,Ma Y.. Does green investment improve energy firm performance?[J],2021,153.
APA Chen Y.,&Ma Y..(2021).Does green investment improve energy firm performance?.Energy Policy,153.
MLA Chen Y.,et al."Does green investment improve energy firm performance?".Energy Policy 153(2021).
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