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Erschienen in: Economic Change and Restructuring 6/2023

14.06.2022

Transition to sustainable business models for green economic recovery: role of financial literacy, innovation and environmental sustainability

verfasst von: Wenqi Luo, Jiexian Cheng

Erschienen in: Economic Change and Restructuring | Ausgabe 6/2023

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Abstract

Research on sustainable business models and climate change is the focus of this article, which examines the industry, business and sustainability which has attracted a lot of attention. Because of this, we are investigating the effects of implementing business sustainability capabilities using a multiple-case methodology. An original report on China's small- and medium-sized businesses provided the data for this study that examined the theoretical and empirical relationships between financial literacy, innovation and environmental conservation. We devised a conceptual model to demonstrate the impact of corporate sustainability skills and competencies on climate change. Endogeneity concerns connected to financial literacy, innovation and ecological sustainability necessitate the employment of an instrumental variable for climate change. After adjusting for individual and firm characteristics, we found that financial literacy may substantially impact a company's sustainable business model. The findings suggest that financial literacy may boost company innovations by relieving financial restrictions and enhancing corporate governance, both of which contribute to the development of sustainable businesses that assist in increasing climate change mitigation efforts. On the other hand, innovation has a more significant influence on low-leverage companies. There was also a lot of talk about climate change, greenhouse gas emissions and climate change in the business context. This research, therefore, sheds light on how business sustainability capabilities and competencies might improve a company's environmental performance.

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Metadaten
Titel
Transition to sustainable business models for green economic recovery: role of financial literacy, innovation and environmental sustainability
verfasst von
Wenqi Luo
Jiexian Cheng
Publikationsdatum
14.06.2022
Verlag
Springer US
Erschienen in
Economic Change and Restructuring / Ausgabe 6/2023
Print ISSN: 1573-9414
Elektronische ISSN: 1574-0277
DOI
https://doi.org/10.1007/s10644-022-09408-1

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