The Impact of Green Investment on Enterprise New-Quality Productivity: Evidence from China

This study aims to investigate the relationship between green investment and enterprise new-quality productivity (NQP) using data from Chinese A-share listed companies from 2012 to 2024. The findings shows that green investment has a positive effect on NQP. The moderating effect analysis indicates that market competition strengthens the link between green investment and NQP. In market environments with high competition, green investment produces stronger gains in NQP. The heterogeneity analysis shows that the effect of green investment on NQP is stronger in non-state-owned enterprises, enterprises in non-heavily polluting industries, and enterprises in eastern and western regions of China. The study provides theoretical and practical implications for enterprises seeking to make green investment decisions, support NQP development, and advance the green transformation of development models.