The relationship between green financing and green innovation in companies' risk taking with the game theory approach

Articles in Press

Document Type : Original Article

Authors

1 Associate of Management, Dehaghan Branch, Islamic Azad University.Dehaghan, Iran

2 Associate ProfessorDepartment of Industrial Engineering, Najafabad Branch, Islamic Azad University, Najafabad, Iran

3 MA. Candidate Department of Management, Dehaghan Branch, Islamic Azad University, Dehaghan, Iran.

Abstract

In recent decades, one of the concerns of human societies is the protection of the environment and the sustainable development of the environment, among which the banking industry, taking into account the environmental risk in the financing of companies, plays an important role in preserving the environment and moving towards the economy. Green is one of the indicators of financial innovation, green financing is one of the aspects of green banking that tries to improve the environmental balance with the development of industries and economic growth. In this article, first, by interviewing 25 experts, the factors affecting green financing through the banking industry of two dairy companies, Pegah Isfahan and Alist Najaf abad, were identified and ranked in the form of 19 categories. Then, using evolutionary game analysis and two studied companies, it is concluded that green financing through banks play an important role in promoting green innovation from both theoretical and empirical aspects. Finally, this paper adopts micro-level evidence to examine the impact of corporate risk-taking on the relationship between green financing and green innovation. The evidence obtained from this study shows that when firms have a lower level of risk-taking, green financing will have a stronger positive effect on their green innovation.

Keywords

Main Subjects

Green Development Management Studies

Articles in Press, Accepted Manuscript
Available Online from 22 July 2024

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