IMPACT OF FINANCIAL TECHNOLOGY ON ENTERPRISES’ GREEN INNOVATION PERFORMANCE--BASED ON CHINESE A-SHARE LISTED COMPANIES

Based on the microdata of Chinese A-share listed companies from 2009 to 2023, this paper explores the impact of FinTech on the green innovation performance of enterprises and its mechanism of action. It is found that FinTech significantly enhances firms' green innovation performance, as evidenced by the increase in the number of green patent applications and patent citations, indicating that FinTech has a positive role in promoting both the quantity and quality of green innovation. Further analysis shows that the enhancement of financing constraints will weaken the positive impact of FinTech on green innovation performance. In contrast, enterprise green concern mediates between FinTech and green innovation performance. In addition, the promotional effect of FinTech on green innovation performance is more significant in SOEs, manufacturing industries, and the eastern region. The research in this paper provides empirical evidence for FinTech to promote green innovation and provides a reference for policymakers to optimize the institutional environment for FinTech to support green innovation.