Green finance, green culture and corporate green management innovation: Evidence from Chinese listed companies

•Green finance has a significant positive impact on corporate green management innovation.•Green culture acts as a mediator between green finance and corporate green management innovation.•The impact of green finance on corporate green management innovation varies by region and type of enterprise. In the context of a rapid expansion of the green economy, there is a growing interest in understanding how green finance drives innovation in environmental management within enterprises. To investigate the nexus among green finance, corporate green management innovation, and corporate green culture, this study examines Chinese A-share listed companies spanning from 2009 to 2020. The findings reveal that green finance significantly promotes corporate green management innovation, and corporate green culture plays a mediating role in this process. The heterogeneity analysis indicates regional disparities in the influence of green finance on corporate green management innovation. Particularly, a more substantial increase in green management innovation is observed in the eastern and central regions, among high-tech corporations, and in non-heavy polluting corporations with heightened green finance.