{"title":"The impact of intelligent investment on corporate green innovation: Moderating effects of executive green perception and environmental regulation","authors":"","doi":"10.1016/j.frl.2024.106089","DOIUrl":null,"url":null,"abstract":"<div><p>As firms increasingly invest in intelligent technologies while facing environmental pressures, it is crucial to understand the relationship between these investments and green innovation. This study aims to investigate how intelligent investment influences corporate green innovation, as well as the moderating roles of executive green perception and environmental regulation. Multiple regression analyses are employed to test our hypotheses through the use of panel data from Chinese A-share listed companies (2007–2022). According to the research findings, intelligent investment has a significant positive impact on green innovation, and this effect is further amplified by stronger executive green perception and more stringent environmental regulations. It is noteworthy that various types of firms are affected differently by this effect. State-owned enterprises and pollution-intensive industries exhibit stronger positive relationships, while non-high-tech sectors show more pronounced impacts. These findings enhance our understanding of how firms leverage technology to drive sustainable innovation, offering valuable insights for managers seeking to align tech investments with their goals of sustainability, and for legislators and administrators designing effective environmental regulations. It is recommended that policymakers take into account the establishment of regulatory frameworks that are conducive to intelligent investments, thereby fostering green innovation across various industries.</p></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":null,"pages":null},"PeriodicalIF":7.4000,"publicationDate":"2024-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S154461232401119X","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 firms increasingly invest in intelligent technologies while facing environmental pressures, it is crucial to understand the relationship between these investments and green innovation. This study aims to investigate how intelligent investment influences corporate green innovation, as well as the moderating roles of executive green perception and environmental regulation. Multiple regression analyses are employed to test our hypotheses through the use of panel data from Chinese A-share listed companies (2007–2022). According to the research findings, intelligent investment has a significant positive impact on green innovation, and this effect is further amplified by stronger executive green perception and more stringent environmental regulations. It is noteworthy that various types of firms are affected differently by this effect. State-owned enterprises and pollution-intensive industries exhibit stronger positive relationships, while non-high-tech sectors show more pronounced impacts. These findings enhance our understanding of how firms leverage technology to drive sustainable innovation, offering valuable insights for managers seeking to align tech investments with their goals of sustainability, and for legislators and administrators designing effective environmental regulations. It is recommended that policymakers take into account the establishment of regulatory frameworks that are conducive to intelligent investments, thereby fostering green innovation across various industries.
随着企业在面临环境压力的同时越来越多地投资于智能技术，了解这些投资与绿色创新之间的关系至关重要。本研究旨在探讨智能化投资如何影响企业绿色创新，以及高管绿色认知和环境监管的调节作用。通过使用中国 A 股上市公司（2007-2022 年）的面板数据，采用多元回归分析来检验我们的假设。研究结果表明，智能投顾对绿色创新有显著的正向影响，而更强的高管绿色认知和更严格的环境监管会进一步放大这种影响。值得注意的是，不同类型的企业受到的影响不同。国有企业和污染密集型行业表现出更强的正向关系，而非高科技行业则表现出更明显的影响。这些发现加深了我们对企业如何利用技术推动可持续创新的理解，为寻求将技术投资与其可持续发展目标相结合的管理者以及设计有效环境法规的立法者和管理者提供了宝贵的见解。建议政策制定者考虑建立有利于智能投资的监管框架，从而促进各行业的绿色创新。
期刊介绍：
Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies.
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