International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Impact of green finance on ESG performance with an emphasis on green entrepreneurship and corporate social responsibility

Document Type : Original Article

Authors
Mansoureh Aligholi 1
Mohammad Reza Radfar 2
1 Department of Business Management, CT.C., Islamic Azad University, Tehran, Iran
2 Department of Financial Management, ST.C., Islamic Azad University, Tehran, Iran
10.22034/ijfma.2026.78987.2340
Abstract
Green management and environment are so crucial in recent years and paying attention to ESG performance has become a necessary issue in organizations. This research aims to investigate impact of green finance on ESG performance with an emphasis on green entrepreneurship and corporate social responsibility. The research method is based on the objective, applied, and in terms of the implementation method, it is a descriptive survey, and the statistical population includes employees and managers of knowledge-based companies in Tehran, and a sample of 384 people was selected using available sampling method. To collect data of the research, a questionnaire tool was used and after confirming the validity and reliability, it was distributed among the sample size. Structural equation modeling and Smart PLS software were used to test the research hypotheses, and the results indicate that green finance has a significant impact on ESG performance, green entrepreneurship and corporate social responsibility. In addition, the impact of green entrepreneurship and corporate social responsibility on ESG performance is accepted. Also, by the use of Sobel's test, it was determined green entrepreneurship and corporate social responsibility play a mediating role in the impact of green finance on ESG performance.
Keywords
Green management
green finance
green entrepreneurship
corporate social responsibility
ESG performance
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