{"title":"ESG performance and green innovation in new energy enterprises: Does institutional environment matter?","authors":"","doi":"10.1016/j.ribaf.2024.102495","DOIUrl":null,"url":null,"abstract":"<div><p>As the demand for sustainable production grows across Chinese society, heightened attention is being paid to new energy enterprises with superior green innovation capabilities in the current environment. Given the considerable importance of environmental, social and governance (ESG) performance to business operations, we use a sample of 192 Chinese A-share listed new energy enterprises from 2009 to 2022 to investigate the impact of ESG performance on green innovation from the institutional environment perspective. The empirical findings indicate that ESG performance and the institutional environment significantly contribute to facilitating new energy enterprises’ green innovation and the institutional environment can strengthen the promoting effect of ESG performance on green innovation. In addition, ESG performance and the institutional environment can have a significant influence on promoting green innovation in non-state-owned enterprises and new energy enterprises of all sizes, while the moderating effect of the institutional environment only has a positive influence on non-state-owned and large new energy enterprises. Finally, comparing the discrepancy between new energy enterprises’ substantive and strategic green innovation, ESG performance, institutional environment and its optimisation effect tend towards the former.</p></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":null,"pages":null},"PeriodicalIF":6.3000,"publicationDate":"2024-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Research in International Business and Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0275531924002885","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
As the demand for sustainable production grows across Chinese society, heightened attention is being paid to new energy enterprises with superior green innovation capabilities in the current environment. Given the considerable importance of environmental, social and governance (ESG) performance to business operations, we use a sample of 192 Chinese A-share listed new energy enterprises from 2009 to 2022 to investigate the impact of ESG performance on green innovation from the institutional environment perspective. The empirical findings indicate that ESG performance and the institutional environment significantly contribute to facilitating new energy enterprises’ green innovation and the institutional environment can strengthen the promoting effect of ESG performance on green innovation. In addition, ESG performance and the institutional environment can have a significant influence on promoting green innovation in non-state-owned enterprises and new energy enterprises of all sizes, while the moderating effect of the institutional environment only has a positive influence on non-state-owned and large new energy enterprises. Finally, comparing the discrepancy between new energy enterprises’ substantive and strategic green innovation, ESG performance, institutional environment and its optimisation effect tend towards the former.
期刊介绍：
Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance
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