References
- Al-Qudah, A. A., Hamdan, A., Al-Okaily, M., & Alhaddad, L. (2023). The impact of green lending on credit risk: evidence from UAE’s banks. Environmental Science and Pollution Research, 30(22), 61381-61393. https://doi.org/10.1007/s11356-021-18224-5
- Arintoko, Badriah, L.S., Rahajuni, D., Kadarwati, N., Priyono, R. (2024). The impact of macroeconomic variables on credit risk: Evidence regarding sustainable lending in ASEAN countries. International Journal of Sustainable Development and Planning, 19(4), 1589-1597. https://doi.org/10.18280/ijsdp.190435
- Berger, A. N., & DeYoung, R. (1997). Problem loans and cost efficiency in commercial banks. Journal of Banking & Finance, 21(6), 849-870. https://doi.org/10.1016/S0378-4266(97)00003-4
- Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, 47(1), 239-253. https://doi.org/10.2307/2297111
- Budhathoki, P. B., Ghimire, S. R., & Basnet, A. (2024b). Impact of Macroeconomic Variables on the Performance of Nepalese Financial Institutions. Interdisciplinary Journal of Management and Social Sciences, 5(2), 152-164. https://doi.org/10.3126/ijmss.v5i2.69453
- Budhathoki, P. B., Ghimire, S. R., & Shrama, Y. N. (2025a). Unveiling the nexus between priority sectors lending and credit risk. Financial Markets, Institutions and Risks, 9(1), 19-29. https://doi.org/10.61093/fmir.9 (1).19-29.2025
- Chen, J., Liu, X., Ou, F., Lu, M., & Wang, P. (2023). Green lending and stock price crash risk: Evidence from the green credit reform in China. Journal of international money and finance, 130, 102770. https://doi.org/10.1016/j.jimonfin.2022.102770
- Cheung, Y. L., Tan, W., & Wang, W. (2018). National stakeholder orientation, corporate social responsibility, and bank loan cost. Journal of Business Ethics, 150(2), 505-524. https://doi.org/10.1007/s10551-016-3140-8
- Cui, Y., Geobey, S., Weber, O., & Lin, H. (2018). The impact of green lending on credit risk in China. Sustainability, 10(6), 2008. https://doi.org/10.3390/su10062008
- Dhananjaya, K. (2020). Corporate debt vulnerability and non-performing assets in India. Global Business Review, 25(2), 444-467. https://doi.org/10.1177/0972150920935758
- Diamond, D. W. (1984). Financial intermediation and delegated monitoring. The Review of Economic Studies, 51(3), 393-414. https://doi.org/10.2307/2297430
- Dikau, S., & Volz, U. (2019). Central banking, climate change, and green finance. In J. Sachs, W. Thye, N. Yoshino, & F. Taghizadeh-Hesary (Eds.). Handbook of green finance. Springer. https://doi.org/10.1007/978-981-10-8710-3_17-1
- Dutta, K. D., & Saha, M. (2021). Do competition and efficiency lead to bank stability? Evidence from Bangladesh. Future Business Journal, 7(1), 6.https://doi.org/10.1186/s43093-02000047-4
- Feng, Y., Pan, Y., Sun, C., & Niu, J. (2024). Assessing the effect of green credit on risk-taking of commercial banks in China: Further analysis on the two-way Granger causality. Journal of Cleaner Production, 437, 140698. https://doi.org/10.1016/j.jclepro.2024.140698
- Ferreira, C. (2022). Determinants of non-performing loans: A panel data approach. International Advances in Economic Research, 28(3), 133-153. https://doi.org/10.1007/s11294-022-09860-9
- Field, A. (2024). Discovering statistics using IBM SPSS statistics (6th ed.). Sage publications limited.
- Freeman, R. E. (1984). Strategic management : A stakeholder approach. Pitman.
- Furlong, F. T., & Keeley, M. C. (1989). Capital regulation and bank risk-taking: A note. Journal of Banking & Finance, 13(6), 883-891. https://doi.org/10.1016/0378-4266(89)90008-3
- Gjeçi, A., Marinč, M., & Rant, V. (2023). Non-performing loans and bank lending behaviour. Risk Management, 25(1), 7. https://doi.org/10.1057/s41283-022-00111-z
- Gujarati, D. (2015). Econometrics by example. Bloomsbury Publishing.
- Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). McGraw-Hill. Irwin.
- Gujarati, D. N., Porter, D. C., & Gunasekar, S. (2009). Basic econometrics (5th ed.). McGraw Hill Education (India) Private Limited.
- Hossain, M. K., Rahman, F., Golder, U., & Kabir, H. (2025). Effectiveness of internal corporate governance mechanisms in controlling non-performing loans of an emerging economy. Schmalenbach Journal of Business Research, 1-28. https://doi.org/10.1007/s41471-025-00216-7
- Koju, L., Koju, R., & Wang, S. (2018). Macroeconomic and bank-specific determinants of non-performing loans: Evidence from Nepalese banking system. Journal of Central Banking Theory and Practice, 7(3), 111-138. https://doi.org/10.2478/jcbtp-2018-0026
- Miroshnichenko, O. S., & Mostovaya, N. A. (2019). Green loan as a tool for green financing. Finance: Theory and Practice, 23(2), 31-43. https://doi.org/10.26794/2587-5671-2019-23-2-31-43
- Mirza, N., Afzal, A., Umar, M., & Skare, M. (2023). The impact of green lending on banking performance: Evidence from SME credit portfolios in the BRIC. Economic Analysis and Policy, 77, 843-850. https://doi.org/10.1016/j.eap.2022.12.024
- Nepal Infrastructure Bank Limited. (2025, May 13). NIFRA pioneers sustainable finance with Nepal’s first green bond. https://www.nifrabank.com/green-initiatives
- NRB. (2023). Unified directives A, B, and C 2080. https://www.nrb.org.np/contents/uploads/2023/10/Unified-Directives-2080-FinalUpload.pdf
- NRB. (2025). Key financial indicators. https://www.nrb.org.np/category/key-financial-indicators/?department=bsd
- O’brien, R. M. (2007). A caution regarding rules of thumb for variance inflation factors. Quality & Quantity, 41(5), 673-690. https://doi.org/10.1007/s13571-024-00342-y
- Patra, B., & Padhi, P. (2016). Determinants of nonperforming assets-bank-specific and macroeconomic factors: A panel data analysis of different group of commercial banks operating in India. Theoretical & Applied Economics, 23 (4) 215-236. https://tinyurl.com/sbkab746
- Ramesh, K. (2019). Bad loans of public sector banks in India: A panel data study. Emerging Economy Studies, 5(1), 22-30. https://doi.org/10.1177/2394901519825911
- Rehman, A., Mehmood, W., & Al Gharaibeh, F. (2025). The nexus between country governance and non-performing loans in South Asian countries. Discover Sustainability, 6(1), 607. https://doi.org/10.1007/s43621-025-01142-8
- Saliba, C., Farmanesh, P., & Athari, S. A. (2023). Does country risk impact the banking sectors’ non-performing loans? Evidence from BRICS emerging economies. Financial Innovation, 9(1), 86. https://doi.org/10.1186/s40854-023-00494-2
- Sharma, N., & Jain, S. (2025). Do bank capital and liquidity truly shield against systemic risk: evidence from the global banking sector. Journal of Regulatory Economics, 1-58. https://doi.org/10.1007/s11149-025-09492-x
- Stern, G. H., & Feldman, R. J. (2004). Too big to fail: The hazards of bank bailouts. Brookings Institution Press. https://tinyurl.com/32x6cdxw
- Umar, M., Ji, X., Mirza, N., & Naqvi, B. (2021). Carbon neutrality, bank lending, and credit risk: Evidence from the Eurozone. Journal of Environmental Management, 296, 113156. https://doi.org/10.1016/j.jenvman.2021.113156
- Wu, M. (2025). Green credit, bank competitiveness and bank risk-taking. International Review of Economics & Finance, 104481. https://doi.org/10.1016/j.iref.2025.104481
- Wu, M., & Zhang, L. (2025). Green credit, deposit-loan ratio, and risk taking of commercial banks. Finance Research Letters, 107470. https://doi.org/10.1016/j.frl.2025.107470
- Xiang, W., & Ma, C. (2025). Can banking competitiveness stimulate the development of regional green finance?. International Review of Economics & Finance, 104464. https://doi.org/10.1016/j.iref.2025.104464
- Zhang, B., Bi, J., Yuan, Z., Ge, J., Liu, B., & Bu, M. (2008). Why do firms engage in environmental management? An empirical study in China. Journal of Cleaner Production, 16(10), 1036-1045. https://doi.org/10.1016/j.jclepro.2007.06.016
- Zhang, Q., Du, K., Fang, W., & Tu, Q. (2025). Environmental regulation, banking risk and green finance policy: A DSGE approach. Sustainable Futures, 10, 101241. https://doi.org/10.1016/j.sftr.2025.101241
- Zhang, W. L., Chang, C. P., & Xuan, Y. (2022). The impacts of climate change on bank performance: What’s the mediating role of natural disasters?. Economic Change and Restructuring, 55(3), 1913-1952. https://doi.org/10.1007/s10644-021-09371-3
- Zhou, X. Y., Caldecott, B., Hoepner, A. G., & Wang, Y. (2022). Bank green lending and credit risk: an empirical analysis of China’s Green Credit Policy. Business Strategy and the Environment, 31(4), 1623-1640. https://doi.org/10.1002/bse.2973