Research on the Influence Effect of Green Finance on the Green Development of Biopharmaceutical Enterprises in the Context of Digital Economy

Xin Chen
School of Law and Business, Sanjiang University, Nanjing, Jiangsu, 210012, China.
Gonggen Li
Logistics Support Department, Nanjing Tech University, Nanjing, Jiangsu, 211816, China.

Abstract:

This paper firstly selects 24 indicators in five aspects, namely, finance, internal process, learning and growth, value chain operation, and social benefit, according to the balanced scorecard method, to construct an evaluation model of the impact effect of green development. Then the association between green finance and green development of biopharmaceutical enterprises is studied, and the hypothesis that the level of green finance development is positively correlated with the level of green innovation development of biopharmaceuticals is put forward to construct the double divergence model. Finally, the hypotheses are verified and correlation analyzed, and the development of enterprises before and after the implementation of green finance policy is compared. The experimental data show that the net effect of the policy on green development is positively correlated with an index of 0.297 at the 5% significance level. In the green development situation, it is clearly seen that enterprise A has a large difference before and after the implementation of the policy. Before the implementation of the policy, the peak values of the indicators did not reach 50 and 150, and the values of the indicators after the implementation of the policy exceeded 50 and 150, indicating that green finance has a positive effect on the green development of enterprises.