Publication:
Assessing the nexus mechanism between energy efficiency and green finance
Assessing the nexus mechanism between energy efficiency and green finance
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Date
2021
Authors
Dongyang Zhang
Ala Eldin Awawdeh
Muhammed Sajjad Hussain
Quang-Thanh Ngo
Vu Minh Hieu
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Publisher
Research Projects
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Abstract
The objective of this study is to measure
the energy efficiency index based on green finance
data from 114 listed companies of China during
2009 to 2018 by using the slack-based data envelopment
analysis (DEA) model to measure the energy
efficiency and econometric estimation to measure
the impact of debt and equity financing. The proposed
research study purpose is to develop a comprehensive
assessment financing efficiency index based on energy efficiency index. Results shows
that 1% increase in equity financing increases the
financing efficiency by 0.002, while bond financing
is negatively associated with financing efficiency,
whereas 1% rise in debt financing decreases the
financing efficiency by −0.019 whereas coefficients
of bank financing and market capitalization. Jilin
and Shandong provinces are best-performing provinces
in terms of financing efficiency, whereas the
Henan and Hubei provinces are worst-performing
provinces in overall sample. For every 1% increase
in research and development, Jilin and Shandong
reduce carbon dioxide emissions by considerable
amount, respectively. The key findings indicate
that banks continue to dominate the Chinese
credit industry. A significance of arithmetic mean
aggregation as mathematical tool and DEA to construct
an eco-friendly index of Chinese have been
discussed. The proposed research study highlights
irregularities of data issues and to follow appropriate
properties index number. The current study may
fit in the broader spectrum and developing an ecofriendly
index and developing the ranking index
based on multiple indicators.
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Keywords
"Financing efficiency index,
Assessment,
Energy efficiency finance,
Data envelopment analysis,
Chinese provinces"