How does the state capital participation optimize the corporate green innovation structure: Evidence from listed private firms

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2024-11-01 DOI:10.1016/j.irfa.2024.103671

Shi Li , Xiaolong Yu , Kaihao Qian

引用次数: 0

Abstract

This study draws on data from A-share listed businesses in China from 2011 to 2022. The presence of state capital significantly increases business participation in green innovation and improves its structure, transforming strategic innovation into meaningful innovation. The mechanism test demonstrates that using information governance, resource support, and corporate governance, including state capital participation, can enhance companies' green innovation structure. Heterogeneity research reveals that companies' industry pollution levels and greening goals determine whether state capital participation affects corporate green innovation. This link is critical for companies with fewer greening goals and lower pollution levels.

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国有资本参与如何优化企业绿色创新结构？来自上市民营企业的证据

本研究采用了 2011 年至 2022 年中国 A 股上市企业的数据。国有资本的存在大大提高了企业对绿色创新的参与度，并改善了绿色创新的结构，将战略创新转化为有意义的创新。机制检验表明，利用包括国有资本参与在内的信息治理、资源支持和公司治理可以改善企业的绿色创新结构。异质性研究表明，企业的行业污染水平和绿化目标决定了国有资本参与是否会影响企业的绿色创新。对于绿化目标较少、污染水平较低的公司来说，这种联系至关重要。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.