An Analysis of Green Loan Mechanisms Fostering ESG Transition in the Hotel Industry: A Tripartite Evolutionary Game Model Approach

An Analysis of Green Loan Mechanisms Fostering ESG Transition in the Hotel Industry: A Tripartite Evolutionary Game Model Approach | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article An Analysis of Green Loan Mechanisms Fostering ESG Transition in the Hotel Industry: A Tripartite Evolutionary Game Model Approach Zhihan Duan, Imran Ahmad This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-8970249/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract Purpose: In response to growing global sustainability demands, this study examines how green loans foster ESG transition in the hotel industry through strategic coordination among government, banks, and hotels. Design/methodology/approach: Grounded in Institutional Theory, this study innovatively introduces a tripartite evolutionary game model to capture bounded-rational decisions under varying policy conditions and embeds RevPAR to reflect operational realities. Numerical simulations across different regulatory intensities (α) and sensitivity analyses are conducted to explore the mechanism through which policy variation shapes green-transition behavior. Findings: The results reveal that α, as a key exogenous factor, exerts a marked nonlinear effect on hotels’ green-transition behavior. Findings also underscore the pivotal role of initial government incentive willingness in shaping institutional outcomes, offering theoretical and practical insights for optimizing green loan mechanisms and regulatory design to advance ESG transition in the hotel sector. Originality/value: This study integrates Institutional Theory with a tripartite evolutionary game model and embeds RevPAR to align theoretical analysis with hotel operational realities. By revealing the nonlinear effect of regulatory intensity (α) and emphasizing the role of initial government incentive willingness, it offers valuable insights for improving green loan mechanisms and regulatory design in the hotel sector. Mathematical modelling Mathematical Methods Problem solving Sustainability Decision making Governance Full Text Additional Declarations The authors declare no competing interests. Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. 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Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-8970249","acceptedTermsAndConditions":true,"allowDirectSubmit":true,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":597090561,"identity":"ff1141b2-d9f6-4fd1-a53b-3b28f7db8a6e","order_by":0,"name":"Zhihan Duan","email":"","orcid":"","institution":"Florida International University","correspondingAuthor":false,"prefix":"","firstName":"Zhihan","middleName":"","lastName":"Duan","suffix":""},{"id":597090562,"identity":"459cd7ce-0449-4a6d-814e-d9b49207f9e9","order_by":1,"name":"Imran Ahmad","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAAArklEQVRIiWNgGAWjYBACNgYeEGnDzwbi8ZCgJU2yjWgtEGVshyUbiNbCx3726IYfZecl+CQSGB+8bSPGYTx5aTd7zt2WYJNIYDacS5QWhhyzG7xtt+uAWtikeYnSwv/G7ObftnMgW9h/E6dFIsfsNm/bAZAWNmYitbwxuy1zLlmCjedhs+Scc0Roke/PMbv5psxOQr49+eCHN2VEaEECjA2kqR8Fo2AUjIJRgBsAABpmLsEA3MrbAAAAAElFTkSuQmCC","orcid":"","institution":"Florida International University","correspondingAuthor":true,"prefix":"","firstName":"Imran","middleName":"","lastName":"Ahmad","suffix":""}],"badges":[],"createdAt":"2026-02-25 17:33:21","currentVersionCode":1,"declarations":{"humanSubjects":false,"vertebrateSubjects":false,"conflictsOfInterestStatement":false,"humanSubjectEthicalGuidelines":false,"humanSubjectConsent":false,"humanSubjectClinicalTrial":false,"humanSubjectCaseReport":false,"vertebrateSubjectEthicalGuidelines":false},"doi":"10.21203/rs.3.rs-8970249/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-8970249/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":103508249,"identity":"04f73e68-5c24-4293-bcc1-93a686957a94","added_by":"auto","created_at":"2026-02-26 13:47:50","extension":"pdf","order_by":1,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":989804,"visible":true,"origin":"","legend":"","description":"","filename":"Manuscript.pdf","url":"https://assets-eu.researchsquare.com/files/rs-8970249/v1_covered_f55c17bd-45a0-4d64-a9ab-f37472e92874.pdf"}],"financialInterests":"The authors declare no competing interests.","formattedTitle":"\u003cp\u003e\u003cstrong\u003eAn Analysis of Green Loan Mechanisms Fostering ESG Transition in the Hotel Industry: A Tripartite Evolutionary Game Model Approach\u003c/strong\u003e\u003c/p\u003e","fulltext":[],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":false,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":true,"hideJournal":true,"highlight":"","institution":"Florida International University","isAcceptedByJournal":false,"isAuthorSuppliedPdf":true,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":true,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true},"keywords":"Mathematical modelling, Mathematical Methods, Problem solving, Sustainability, Decision making, Governance","lastPublishedDoi":"10.21203/rs.3.rs-8970249/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-8970249/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003ch2\u003ePurpose:\u003c/h2\u003e \u003cp\u003eIn response to growing global sustainability demands, this study examines how green loans foster ESG transition in the hotel industry through strategic coordination among government, banks, and hotels.\u003c/p\u003e\u003ch2\u003eDesign/methodology/approach:\u003c/h2\u003e \u003cp\u003eGrounded in Institutional Theory, this study innovatively introduces a tripartite evolutionary game model to capture bounded-rational decisions under varying policy conditions and embeds RevPAR to reflect operational realities. Numerical simulations across different regulatory intensities (α) and sensitivity analyses are conducted to explore the mechanism through which policy variation shapes green-transition behavior.\u003c/p\u003e\u003ch2\u003eFindings:\u003c/h2\u003e \u003cp\u003eThe results reveal that α, as a key exogenous factor, exerts a marked nonlinear effect on hotels\u0026rsquo; green-transition behavior. Findings also underscore the pivotal role of initial government incentive willingness in shaping institutional outcomes, offering theoretical and practical insights for optimizing green loan mechanisms and regulatory design to advance ESG transition in the hotel sector.\u003c/p\u003e\u003ch2\u003eOriginality/value:\u003c/h2\u003e \u003cp\u003eThis study integrates Institutional Theory with a tripartite evolutionary game model and embeds RevPAR to align theoretical analysis with hotel operational realities. 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