Green Innovation and Financial Performance: The Role of ESG Fund Shareholding

This paper focuses on the relationship between green patent output, ESG-themed fund holdings, and corporate financial performance. By constructing a fixed-effect model and using multi-source data, it deeply analyzes the internal connections among the three. The empirical results show that for every 1% increase in green patent applications, the corporate return on assets increases by 0.2%; for every 10% increase in the shareholding ratio of ESG funds, the performance conversion efficiency of green patents increases by 21%. The study reveals the value catalysis mechanism of capital markets for green innovation, providing a theoretical basis for corporate strategic decision-making and regulatory policies.