Untangling the Impact of Green Finance on the Enterprise Green Performance: A Meta-Analytic Approach

• Main Authors: Hengjie Xu, Qiang Mei, Fakhar Shahzad, Suxia Liu, Xingle Long, Jingjing Zhang
• Format: Article
• Language: English
• Published: MDPI AG 2020-10-01
• Series: Sustainability
• Subjects: Green finance; enterprise green performance; meta-analysis
• Online Access: https://www.mdpi.com/2071-1050/12/21/9085

In recent years, with sustainable development strategies, the conflict between economic development and natural resources has become increasingly severe. Meanwhile, green finance’s emergence is due to the rethinking of human economic activities under global warming conditions and the energy crisis. Thus, this study aims to analyze the relationship between green finance and enterprise green performance using a meta-analytic approach. This study has used Comprehensive Meta-Analysis Software (CMA) 2.0 for meta-analysis and applied the Hunter and Schmidt model for statistical analysis to test the proposed hypotheses. This study finds a significant positive correlation between green finance and enterprise green performance and proves that firm type and region play a moderating role in the relationship between green finance and enterprise green performance. However, profitability does not significantly moderate the relationship between green finance and enterprise green performance.