{"title":"绿色投资、财务效率和可持续发展：企业成本和政府指导的双重视角","authors":"Lijuan Zhao, Tianqi Zhu, Junhong Shi, Xiaohong Kang, Haonan Chen","doi":"10.1007/s12061-024-09568-9","DOIUrl":null,"url":null,"abstract":"<div><p>This study highlights the importance of green investment in achieving the goal of sustainability. Several studies have been conducted to explore the factors affecting sustainable development. However, research on the importance of green investment in achieving sustainable development from the perspective of enterprise cost and government guidance is scant, and the moderating effect of financial efficiency has not been considered. Thus, this study is based on the social and economic data of 31 provinces in China from 2009 to 2021; it evaluates the level of sustainable development of each province and combines green investment, financial efficiency, and sustainable development into the research framework from the dual perspectives of government and enterprises to explore the relationship among the three, which can result in efficient and balanced sustainable development. The results show the following: (1) government green investment has a “U-shaped” spillover effect on sustainable development; (2) corporate green investment has an inverted U-shaped nonlinear effect on sustainable development; and (3) under the adjustment of financial efficiency, government green investment has a “two-stage” promoting effect on sustainable development, and corporate green investment has an inverted U-shaped nonlinear effect on sustainable development. Based on these findings, an increase the amount of government green investment can ensure the sustainable amount of corporate green investment and promote coordinated financial and economic development.</p></div>","PeriodicalId":46392,"journal":{"name":"Applied Spatial Analysis and Policy","volume":"17 2","pages":"799 - 821"},"PeriodicalIF":2.0000,"publicationDate":"2024-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s12061-024-09568-9.pdf","citationCount":"0","resultStr":"{\"title\":\"Green Investment, Financial Efficiency, and Sustainable Development: Dual Perspectives of Enterprise Cost and Government Guidance\",\"authors\":\"Lijuan Zhao, Tianqi Zhu, Junhong Shi, Xiaohong Kang, Haonan Chen\",\"doi\":\"10.1007/s12061-024-09568-9\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>This study highlights the importance of green investment in achieving the goal of sustainability. Several studies have been conducted to explore the factors affecting sustainable development. However, research on the importance of green investment in achieving sustainable development from the perspective of enterprise cost and government guidance is scant, and the moderating effect of financial efficiency has not been considered. Thus, this study is based on the social and economic data of 31 provinces in China from 2009 to 2021; it evaluates the level of sustainable development of each province and combines green investment, financial efficiency, and sustainable development into the research framework from the dual perspectives of government and enterprises to explore the relationship among the three, which can result in efficient and balanced sustainable development. The results show the following: (1) government green investment has a “U-shaped” spillover effect on sustainable development; (2) corporate green investment has an inverted U-shaped nonlinear effect on sustainable development; and (3) under the adjustment of financial efficiency, government green investment has a “two-stage” promoting effect on sustainable development, and corporate green investment has an inverted U-shaped nonlinear effect on sustainable development. Based on these findings, an increase the amount of government green investment can ensure the sustainable amount of corporate green investment and promote coordinated financial and economic development.</p></div>\",\"PeriodicalId\":46392,\"journal\":{\"name\":\"Applied Spatial Analysis and Policy\",\"volume\":\"17 2\",\"pages\":\"799 - 821\"},\"PeriodicalIF\":2.0000,\"publicationDate\":\"2024-02-06\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://link.springer.com/content/pdf/10.1007/s12061-024-09568-9.pdf\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Applied Spatial Analysis and Policy\",\"FirstCategoryId\":\"90\",\"ListUrlMain\":\"https://link.springer.com/article/10.1007/s12061-024-09568-9\",\"RegionNum\":4,\"RegionCategory\":\"社会学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"ENVIRONMENTAL STUDIES\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applied Spatial Analysis and Policy","FirstCategoryId":"90","ListUrlMain":"https://link.springer.com/article/10.1007/s12061-024-09568-9","RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
Green Investment, Financial Efficiency, and Sustainable Development: Dual Perspectives of Enterprise Cost and Government Guidance
This study highlights the importance of green investment in achieving the goal of sustainability. Several studies have been conducted to explore the factors affecting sustainable development. However, research on the importance of green investment in achieving sustainable development from the perspective of enterprise cost and government guidance is scant, and the moderating effect of financial efficiency has not been considered. Thus, this study is based on the social and economic data of 31 provinces in China from 2009 to 2021; it evaluates the level of sustainable development of each province and combines green investment, financial efficiency, and sustainable development into the research framework from the dual perspectives of government and enterprises to explore the relationship among the three, which can result in efficient and balanced sustainable development. The results show the following: (1) government green investment has a “U-shaped” spillover effect on sustainable development; (2) corporate green investment has an inverted U-shaped nonlinear effect on sustainable development; and (3) under the adjustment of financial efficiency, government green investment has a “two-stage” promoting effect on sustainable development, and corporate green investment has an inverted U-shaped nonlinear effect on sustainable development. Based on these findings, an increase the amount of government green investment can ensure the sustainable amount of corporate green investment and promote coordinated financial and economic development.
期刊介绍：
Description
The journal has an applied focus: it actively promotes the importance of geographical research in real world settings
It is policy-relevant: it seeks both a readership and contributions from practitioners as well as academics
The substantive foundation is spatial analysis: the use of quantitative techniques to identify patterns and processes within geographic environments
The combination of these points, which are fully reflected in the naming of the journal, establishes a unique position in the marketplace.
RationaleA geographical perspective has always been crucial to the understanding of the social and physical organisation of the world around us. The techniques of spatial analysis provide a powerful means for the assembly and interpretation of evidence, and thus to address critical questions about issues such as crime and deprivation, immigration and demographic restructuring, retailing activity and employment change, resource management and environmental improvement. Many of these issues are equally important to academic research as they are to policy makers and Applied Spatial Analysis and Policy aims to close the gap between these two perspectives by providing a forum for discussion of applied research in a range of different contexts
Topical and interdisciplinaryIncreasingly government organisations, administrative agencies and private businesses are requiring research to support their ‘evidence-based’ strategies or policies. Geographical location is critical in much of this work which extends across a wide range of disciplines including demography, actuarial sciences, statistics, public sector planning, business planning, economics, epidemiology, sociology, social policy, health research, environmental management.
FocusApplied Spatial Analysis and Policy will draw on applied research from diverse problem domains, such as transport, policing, education, health, environment and leisure, in different international contexts. The journal will therefore provide insights into the variations in phenomena that exist across space, it will provide evidence for comparative policy analysis between domains and between locations, and stimulate ideas about the translation of spatial analysis methods and techniques across varied policy contexts. It is essential to know how to measure, monitor and understand spatial distributions, many of which have implications for those with responsibility to plan and enhance the society and the environment in which we all exist.
Readership and Editorial BoardAs a journal focused on applications of methods of spatial analysis, Applied Spatial Analysis and Policy will be of interest to scholars and students in a wide range of academic fields, to practitioners in government and administrative agencies and to consultants in private sector organisations. The Editorial Board reflects the international and multidisciplinary nature of the journal.
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