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Feng J, Wang Y, Xi W. Does green technology transformation alleviate corporate financial constraints? Evidence from Chinese listed firms. Heliyon 2024; 10:e27841. [PMID: 38533064 PMCID: PMC10963324 DOI: 10.1016/j.heliyon.2024.e27841] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Journal Information] [Subscribe] [Scholar Register] [Received: 09/16/2023] [Revised: 03/06/2024] [Accepted: 03/07/2024] [Indexed: 03/28/2024] Open
Abstract
Green technology transformation is crucial for China to achieve its carbon peak and carbon neutrality goals. We use green transformation keywords extracted from the annual reports of listed firms to construct a green technology transformation intensity index for enterprises and investigate the impact of green technology transformation on corporate financial constraints. Our findings indicate that green technology transformation significantly mitigates corporate financial constraints, with green subsidies and debt financing as crucial mechanisms. Moreover, this effect is particularly pronounced in high-carbon-intensity industries, firms with fewer political connections, and firms affected by the carbon trading pilot. Additionally, digital and green transformations have a synergistic effect on alleviating corporate financial constraints. Therefore, we should promote the green technology transformation of enterprises and guide green finance to serve the real economy, effectively solve the financing dilemma of green enterprises, and provide strong green kinetic energy for sustainable development.
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Affiliation(s)
- Jue Feng
- Department of Economics and Management, Yuncheng University, Yuncheng, China
- School of Finance, Zhongnan University of Economics and Law, Wuhan, China
| | - Yingdong Wang
- School of Finance, Zhongnan University of Economics and Law, Wuhan, China
- Strategic Studies Institute, Hubei Yangtze Labs, Wuhan, China
| | - Wenzhi Xi
- School of Statistics and Mathematics, Zhongnan University of Economics and Law, Wuhan, China
- Department of Statistics, The Chinese University of Hong Kong, Hong Kong, China
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González-Viralta D, Veas-González I, Egaña-Bruna F, Vidal-Silva C, Delgado-Bello C, Pezoa-Fuentes C. Positive effects of green practices on the consumers' satisfaction, loyalty, word-of-mouth, and willingness to pay. Heliyon 2023; 9:e20353. [PMID: 37822634 PMCID: PMC10562865 DOI: 10.1016/j.heliyon.2023.e20353] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 03/22/2023] [Revised: 09/12/2023] [Accepted: 09/19/2023] [Indexed: 10/13/2023] Open
Abstract
Concern about green practices by companies and people has grown exponentially worldwide, considering them as a key element sustaining the development of competitive advantages. Given the present competitive, dynamic, and turbulent supermarket environment, managing environmental practices is essential for their survival. This study has two objectives: First, studying the relationship between green practices and customer satisfaction and, second, analyzing the impact of green practices and satisfaction on loyalty, word-of-mouth, and willingness to pay more via a quantitative study on a convenience sample of 458 customers from different Chilean supermarkets. Partial least square regression was used to analyze data. Results show the importance of green practices for developing satisfaction and different customer behaviors such as loyalty, word-of-mouth, and willingness to pay more. In addition, results prove satisfaction's positive impact on loyalty, word-of-mouth, and willingness to pay more. Those results also provide empirical evidence about the effects of green practices on the supermarket industry and, in this way, their advancement toward more sustainable management.
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Affiliation(s)
- Darinka González-Viralta
- Department of Administration, Universidad Católica del Norte, Angamos 0610, Antofagasta, 1240000, Antofagasta, Chile
| | - Iván Veas-González
- Department of Administration, Universidad Católica del Norte, Angamos 0610, Antofagasta, 1240000, Antofagasta, Chile
| | - Francisco Egaña-Bruna
- Department of Administration, Universidad Católica del Norte, Angamos 0610, Antofagasta, 1240000, Antofagasta, Chile
| | - Cristian Vidal-Silva
- School of Videogame Development and Virtual Reality Engineering, Faculty of Engineering, University of Talca, Av. Lircay S/N, Talca, 3460000, Maule, Chile
| | - Cristian Delgado-Bello
- Escuela de Ingeniería Comercial, Facultad de Economía y Negocios, Universidad Santo Tomás, Antofagasta, 1240000, Antofagasta, Chile
| | - Claudia Pezoa-Fuentes
- Instituto de Administración, Facultad de Ciencias Económicas y Administrativas, Universidad Austral, Valdivia, 5110566, Los Ríos, Chile
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