Abstract

China's robust renewable energy sector expansion has spurred academic inquiry into the underlying driving forces. Recent studies have highlighted the correlation between the growth of renewable energy and project financing and the pivotal role of information management in financing. Based on this, we use business data from Chinese listed companies from 2007 to 2021 to investigate the relationship between renewable energy business development and financing. Furthermore, we introduce social and enterprise information to explore their impact on this relationship. Our findings reveal that: (1) Expansion of renewable energy businesses enhances fund availability mainly through endogenous financing. (2) “Anti-dumping and countervailing” (“Double-anti”) investigations significantly hinder financing for expanding renewable energy businesses, while industrial policies mitigate these effects. (3) Complex international backgrounds combined with domestic market-government interactions promote renewable energy enterprises to apply information management technology for financing.

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