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Cited by 403

The DOI matches its Crossref record; 57 of the 57 references it cites were found in a registry or an index.

Does green investment improve energy firm performance?

Chen, Yufeng, Ma, Yanbai·2021·Energy Policy
DOI 10.1016/j.enpol.2021.112252
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Abstract

Abstract 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.

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Citations

Cites

Show all 57 references

Research works printed but not linked: 6

  1. Anderson-Weir, 2010, How does the Stock market react to corporate environmental news?, Und. Econ. Rev., 6, 1
  2. Carraro, 1994, Environmental policy reconsidered: the role of technological innovation, Eur. Econ. Rev., 38, 545, 10.1016/0014-2921(94)90090-6 · doi:10.1016/0014-2921(94)90090-6
  3. Fleishman, 2009, Does regulation stimulate productivity? The effect of air quality policies on the efficiency of US power plants, Energy Pol., 37, 4574, 10.1016/j.enpol.2009.06.012 · doi:10.1016/j.enpol.2009.06.012
  4. Marchi, 2010, Cooperation toward green innovation: an empirical investigation, Marco Fanno Working Paper
  5. Weche, 2018, Does green corporate investment really crowd out other business investment?, Ind. Corp. Change, 28, 1279
  6. Zhou, 2019, Internal control, environmental policy and corporate environmental investment—empirical evidence from listed companies in heavy polluting industries, Comm. Finan. Acc., 88

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Metadata

Authors
Chen, Y., & Ma, Y.
Venue
Energy Policy
Publisher
Elsevier BV
Published
2021-06
Volume
153
Pages
112252
ISSN
0301-4215 (ISSN-L)
DOI
10.1016/j.enpol.2021.112252
OpenAlex
W3141734175
Cited by
403
References
57
FWCI
51.12
Type
journal article
Language
en
Open access
closed
Licence
Funders
National Natural Science Foundation of China

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CoChat. (2026). Citation check: Does green investment improve energy firm performance? https://app.cochat.ai/papers/10.1016/j.enpol.2021.112252
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Chen, Y., & Ma, Y. (2021). Does green investment improve energy firm performance? Energy Policy. https://doi.org/10.1016/j.enpol.2021.112252

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