Skip to main content

Advertisement

SpringerLink
Log in

Does fintech promote the sustainable development of renewable energy enterprises?

  • Research Article
  • Published:
Environmental Science and Pollution Research Aims and scope Submit manuscript

Abstract

Based on the data of listed renewable energy enterprises in China from 2009 to 2020, I study the impact of fintech on the sustainable development of renewable energy enterprises. The results show that fintech promotes the sustainable development of renewable energy enterprises. The mechanism tests show that fintech promotes the sustainable development of renewable energy enterprises by improving investment efficiency. The cross-sectional results show that the implementation of green credit policies and the improvement of information disclosure quality promote the positive impact of fintech on the sustainable development of renewable energy enterprises. This study enriches the literature in the field of fintech and renewable energy enterprises and provides empirical evidence and policy enlightenment for fintech to promote sustainable development in renewable energy enterprises.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

Data availability

The datasets used or analyzed during the current study are available from the corresponding author on reasonable request.

References

  • Acharya VV, Khandwala H, Öncü TS (2013) The growth of a shadow banking system in emerging markets: evidence from India. J Int Money Finance 39:207–230

    Article  Google Scholar 

  • Berndt A, Gupta A (2009) Moral hazard and adverse selection in the originate-to-distribute model of bank credit. J. Monet. Econ. 56(5):725–743

    Article  Google Scholar 

  • Brown S, Hillegeist SA (2007) How disclosure quality affects the level of information asymmetry. Rev. Account 12(2):443–477

    Google Scholar 

  • Buczyński M, Chlebus M (2022) The importance of window size: a study on the required window size for optimal-quality market risk models. J. Risk Model Valid. 16(1):77–97

    Google Scholar 

  • Cailou J, DeHai L (2022) Does venture capital stimulate the innovation of China’s renewable energy enterprises? Energy 244:122704

    Article  Google Scholar 

  • Campiglio E (2016) Beyond carbon pricing: the role of banking and monetary policy in financing the transition to a low-carbon economy. Ecol Econ 121:220–230

    Article  Google Scholar 

  • Chang X, Fu K, Low A, Zhang W (2015) Non-executive employee stock options and corporate innovation. J. financ. econ. 115(1):168–188

    Article  Google Scholar 

  • Chen MA, Wu Q, Yang B (2019) How valuable is FinTech innovation? Rev Financ Stud 32(5):2062–2106

    Article  Google Scholar 

  • Chen X, Teng L, Chen W (2022) How does FinTech affect the development of the digital economy? Evidence from China. N. Am. J. Econ. 61:101697

    Google Scholar 

  • Croutzet A, Dabbous A (2021) Do FinTech trigger renewable energy use? Evidence from OECD countries. Renew. Energy 179:1608–1617

    Article  Google Scholar 

  • de Lange PE, Risstad M, Westgaard S (2022) Estimating value-at-risk using quantile regression and implied volatilities. J. Risk Model Valid. 16(1):53–76

    Google Scholar 

  • Dickinson V (2011) Cash flow patterns as a proxy for firm life cycle. Account Rev 86(6):1969–1994

    Article  Google Scholar 

  • Ding N, Gu L, Peng Y (2022) Fintech, financial constraints and innovation: evidence from China. j. corp. finance j corp financ 73:102194

    Article  Google Scholar 

  • Erel I, Liebersohn J (2022) Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program. J. financ. eco 146(1):90–118

    Article  Google Scholar 

  • Ghisetti C, Mancinelli S, Mazzanti M, Zoli M (2017) Financial barriers and environmental innovations: evidence from EU manufacturing firms. Climate Policy 17(sup1):S131–S147

    Article  Google Scholar 

  • Goldstein I, Jiang W, Karolyi GA (2019) To FinTech and beyond. Rev Financ Stud 32(5):1647–1661

    Article  Google Scholar 

  • He Z, Xiong W (2012) Rollover risk and credit risk. J Finance 67(2):391–430

    Article  Google Scholar 

  • Jacobs M Jr (2022) Quantification of model risk with an application to probability of default estimation and stress testing for a large corporate portfolio. J. Risk Model Valid. 16(3):73–111

    Google Scholar 

  • Jin S, Wang W, Zhang Z (2022). The real effects of implicit government guarantee: evidence from Chinese state-owned enterprise defaults. Management Science

  • Kahl M, Shivdasani A, Wang Y (2015) Short-term debt as bridge financing: Evidence from the commercial paper market. J Finance 70(1):211–255

    Article  Google Scholar 

  • Kim O, Verrecchia RE (2001) The relation among disclosure, returns, and trading volume information. J Account Res 76(4):633–654

    Google Scholar 

  • Lee CC, Li X, Yu CH, Zhao J (2021) Does fintech innovation improve bank efficiency? Evidence from China’s banking industry. Int. Rev. Econ. Finance 74:468–483

    Article  Google Scholar 

  • Lerner J, Wulf J (2007). Innovation and incentives: evidence from corporate R&D. Rev Econ Stat Rev Econ Stat, 89(4) 634-644

  • Leuz C, Verrecchia RE (2000) The economic consequences of increased disclosure. J Account Res 91-124

  • Levinsohn J, Petrin A (2003) Estimating production functions using inputs to control for unobservables. Rev Econ Stud 70(2):317–341

    Article  Google Scholar 

  • Li K, Xia B, Chen Y, Ding N, Wang J (2021) Environmental uncertainty, financing constraints and corporate investment: evidence from China. Pac. Basin Finance J. 70:101665

    Article  Google Scholar 

  • Li C, He S, Tian Y, Sun S, Ning L (2022) Does the bank’s FinTech innovation reduce its risk-taking? Evidence from China’s banking industry. J Innov Knowledge 7(3):100219

    Article  Google Scholar 

  • Luo S, Sun Y, Yang F, Zhou G (2022) Does fintech innovation promote enterprise transformation? Evidence from China. Technol Soc 68:101821

    Google Scholar 

  • Murinde V, Rizopoulos E, Zachariadis M (2022) The impact of the FinTech revolution on the future of banking: opportunities and risks. Int. Rev. Financ. Ana 81:102103

    Article  Google Scholar 

  • Nenavath S (2022) Impact of fintech and green finance on environmental quality protection in India: by applying the semi-parametric difference-in-differences (SDID). Renew. Energy 193:913–919

    Article  CAS  Google Scholar 

  • Olley S, Pakes A (1992) The dynamics of productivity in the telecommunications equipment industry

  • Pittman JA, Fortin S (2004) Auditor choice and the cost of debt capital for newly public firms. J. Account. Econ. 37(1):113–136

    Article  Google Scholar 

  • Richardson S (2006) Over-investment of free cash flow. Rev Acc Stud 11:159–189

  • Song M, Ai H, Li X (2015) Political connections, financing constraints, and the optimization of innovation efficiency among China’s private enterprises. echnol Forecast Soc Change 92:290–299

    Article  Google Scholar 

  • Sufi A (2007) Information asymmetry and financing arrangements: evidence from syndicated loans. J Finance 62(2):629–668

    Article  Google Scholar 

  • Tao R, Su CW, Naqvi B, Rizvi SKA (2022) Can Fintech development pave the way for a transition towards low-carbon economy: a global perspective. Technological Forecasting and Social Change 174:121278

    Article  Google Scholar 

  • Xie X, Zhu X (2022) FinTech and capital allocation efficiency: another equity-efficiency dilemma?. Glob Finance J 100741

  • Xu Z, Meng L, He D, Shi X, Chen K (2022) Government support’s signaling effect on credit financing for new-energy enterprises. Energy Policy 164:112921

    Article  Google Scholar 

  • Zhao J, Li X, Yu CH, Chen S, Lee CC (2022) Riding the FinTech innovation wave: FinTech, patents and bank performance. J Int Money Finance . 122:102552

    Article  Google Scholar 

  • Zhou G, Zhu J, Luo S (2022) The impact of fintech innovation on green growth in China: Mediating effect of green finance. Ecol. Econ 193:107308

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. School of Modern Finance, Jiaxing Nanhu University, Jiaxing, Zhejiang, China

    Bin Jiang

Authors
  1. Bin Jiang
    View author publications

    You can also search for this author in PubMed Google Scholar

Contributions

Bin Jiang: conceptualization, methodology, software, data curation, writing.

Corresponding author

Correspondence to Bin Jiang.

Ethics declarations

Ethical approval

A single study is split up into several parts to increase the quantity of submissions and submitted to various journals or to one journal over time.

Concurrent or secondary publication is sometimes justifiable, provided certain conditions are met. Examples include translations or a manuscript that is intended for a different group of readers.

Results are presented clearly, honestly, and without fabrication, falsification or inappropriate data manipulation (including image based manipulation). I adhere to discipline-specific rules for acquiring, selecting and processing data.

No data, text, or theories by others are presented as if they were the author’s own (“plagiarism”). Proper acknowledgements to other works are given (this includes material that is closely copied (near verbatim), summarized, and/or paraphrased), quotation marks (to indicate words taken from another source) are used for verbatim copying of material, and permissions secured for material that is copyrighted.

Consent to participate

Yes.

Consent for publication

Yes.

Competing interests

The author declares no competing interests.

Additional information

Responsible Editor: Nicholas Apergis

Publisher's note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

The manuscript is not submitted to more than one journal for simultaneous consideration.

The submitted work is original and did not have been published elsewhere in any form or language (partially or in full), unless the new work concerns an expansion of previous work.

Highlights

• The relation between fintech and the sustainable development of renewable energy enterprises is investigated.

• Fintech is positively correlated with the sustainable development of renewable energy enterprises.

• Fintech promotes the sustainable development of renewable energy enterprises by improving investment efficiency.

Rights and permissions

Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Jiang, B. Does fintech promote the sustainable development of renewable energy enterprises?. Environ Sci Pollut Res 30, 65141–65148 (2023). https://doi.org/10.1007/s11356-023-27030-0

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s11356-023-27030-0

Keywords

Search

Navigation