TITLE:
The Impact of Green Technology Innovation of New Energy Companies on Earnings Sustainability in China—Based on the Regulatory Effect of Green Finance Development
AUTHORS:
Wenli Zhu, Jinglan Zou
KEYWORDS:
New Energy Companies, Green Technology Innovation, Earnings Sustainability, Green Finance Development
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.12 No.8,
August
16,
2022
ABSTRACT: Taking Chinese A-share new energy listed companies from
2008 to 2020 as a sample, study the impact of green technology innovation on earnings
sustainability, and the role of the development of green finance in its impact
mechanism. The following conclusions were
drawn: 1) The green technology innovation of new energy companies and earnings
sustainability are significantly positively related, strengthening green
technology innovation is an important way to improve the earnings
sustainability of new energy companies. 2) The green finance development has a significant external
adjustment effect, the higher the level of
green finance development, the stronger the role of new energy companies’ green technology innovation on earnings sustainability. 3) Compared with the sustainability of the cash flow surplus, the green
technology innovation of new energy companies plays a more significant role in
improving the sustainability of the accrued surplus. Based on the findings of
the study, relevant recommendations are put forward.