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Qing, L., Chun, D., Dagestani, A. A., & Li, P. (2022). Does Proactive Green Technology Innovation Improve Financial Performance? Evidence from Listed Companies with Semiconductor Concepts Stock in China. Sustainability, 14, Article 4600.
https://doi.org/10.3390/su14084600

has been cited by the following article:

• TITLE: The Impact of Alternative Financing on SMEs: The Mediating Role of Green Innovation and the Moderating Role of Managerial Capability

  AUTHORS: Dominic Achari, Yusheng Kong, Seth Boahen, Richard K. Kuffour, Martin Kwesi Appah

  KEYWORDS: Alternative Financing, Green Innovation, Managerial Capability, Sustainable SME Growth, FinTech, SME Development

  JOURNAL NAME: American Journal of Industrial and Business Management, Vol.16 No.4, April 16, 2026

  ABSTRACT: This study examines how alternative financing influences sustainable growth among small and medium-sized enterprises (SMEs), focusing on the mediating role of green innovation and the moderating role of managerial capability. Drawing on Pecking Order Theory, green entrepreneurship theory, and the managerial capability perspective, the study develops an integrated mediation and moderation framework explaining how FinTech-enabled financing translates into sustainable outcomes. Using survey data from 1007 SMEs in Ghana and Partial Least Squares Structural Equation Modelling (PLS-SEM), the findings show that access to alternative financing significantly enhances sustainable SME growth. Green innovation partially mediates this relationship, indicating that financing contributes to growth both directly and through innovation. Managerial capability is the strongest direct predictor of growth and modestly strengthens the financing-growth relationship. Overall, the findings highlight that the effectiveness of alternative financing depends on both innovation-driven resource use and managerial capability.