Vol. 1 No. 1 (2026)
Articles

Green Finance Management and Corporate Sustainable Innovation: Evidence from a Dual-Path Mechanism

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  • Chenlu Yu,
  • Xiaoming Wang,
  • Wencan Zhang,
  • Wei Yet Tan
Chenlu Yu
SEGi University
Xiaoming Wang
SEGi University
Wencan Zhang
SEGi University
Wei Yet Tan
SEGi University
DOI: https://doi.org/10.70693/smr.v1i1.8

Published 2026-02-08

Keywords

  • Green finance management,
  • Sustainable innovation,
  • R&D intensity,
  • Risk-taking capacity,
  • Panel data,
  • Corporate sustainability
    • ...More
    Less

How to Cite

Yu, C., Wang, X., Zhang, W., & Tan, W. Y. (2026). Green Finance Management and Corporate Sustainable Innovation: Evidence from a Dual-Path Mechanism. Sustainable Management Review, 1(1), 1–6. https://doi.org/10.70693/smr.v1i1.8

Copyright (c) 2026 Chenlu Yu, Xiaoming Wang, Wencan Zhang, Wei Yet Tan

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study conceptualizes green finance management as a strategic managerial capability and investigates how it influences corporate sustainable innovation performance. Using a multi-industry panel of Malaysian listed firms from 2019–2024, fixed-effects regression and parallel mediation analysis are employed to examine the effects of green finance management on green innovation output and long-term financial performance, with R&D intensity and risk-taking capacity as mediators. Green finance management significantly enhances both green patents and long-term ROA. Its impact on green innovation operates primarily through two internal mechanisms: increased R&D intensity and expanded risk-taking capacity. When both mediators are included, the direct effect becomes insignificant, indicating a robust parallel mediation structure. Green finance functions through organizational reconfiguration rather than mechanical capital transfer, underscoring its managerial role in shaping sustainable innovation trajectories.

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