Yes, there is such a thing as color theory. In fact, many people base their entire career around analyzing the feelings evoked by colors thus defining specific meanings associated with that color.
If you’re starting a new business or re-branding, you might want to consider these color concepts. To start off, here’s a theory about Green:
Green is a member of the “Cool Colors” which also include blue and purple. It’s no shocker that green is a “down-to-earth” color that is often reflective of nature. But dig deeper, and green can evoke feelings of harmony and balance. It has the same calming effect of blue, but gains the energy of yellow.
It’s quite a positive color, but change the hue or saturation and you can be tinkering with emotions. For example, brighter greens are more energizing, olive greens are more holistic and dark greens represent affluence.
Another consideration with considering color meanings for design, it is completely subjective based on your audience culture. For example, green can alternatively represent envy or jealousy.
Even so, it’s safe to say that green is an excellent color for designs relating to wealth, renewal and nature.
Examples:
Web:
Identity: