Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM Bangi, Selangor, MALAYSIA.
School of Business
Hunan Institute of Technology
Hengyang 421002, Hunan, China
Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM Bangi, Selangor, MALAYSIA.
Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM Bangi, Selangor, MALAYSIA.
Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM Bangi, Selangor, MALAYSIA.
School of Business
Hunan Institute of Technology
Hengyang 421002, Hunan, CHINA.
Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM Bangi, Selangor, MALAYSIA.
Abstract
Corporations, as major contributors to resource depletion and pollution, bear primary responsibility for environmental protection under the “polluter pays” principle. However, green investment is often associated with higher operating costs and lower short-term returns, which may deter corporations from pursuing environmentally friendly projects. A comprehensive review of internal and external drivers is critical for elucidating the factors shaping corporate green investment behaviour. Therefore, guided by the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, this study conducts a Systematic Literature Review (SLR) of 152 publications using the Mixed Methods Appraisal Tool (MMAT) to assess bias. This review aims to identify the determinants of corporate green investment. Six key themes were identified, encompassing 26 sub-themes that shape green investment in Chinese corporations. By highlighting their interconnections, this review develops a conceptual framework demonstrating how these determinants collectively influence corporate green investment. The findings hold significant implications for policymakers, researchers, and corporate managers seeking to advance sustainable practices, besides providing avenues for future research.