Corporate green innovation: The influence of ESG information disclosure

IF 15.5 1区管理学 Q1 BUSINESS

Journal of Innovation & Knowledge Pub Date : 2024-10-01 DOI:10.1016/j.jik.2024.100628

Lei Ruan, Liwen Yang, Kunyang Dong

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引用次数: 0

Abstract

Environmental, Social, and Governance (ESG), a key concept in sustainable development, plays a critical role in shaping corporate green economic activities. This study investigated the effect of ESG information disclosure on corporate green innovation using data from Chinese A-share listed companies from 2013 to 2022. The findings revealed that ESG information disclosure significantly fosters corporate green innovation and the results remain robust across various robustness checks and endogeneity tests. The heterogeneity analysis indicated that the positive effect of ESG information disclosure on corporate green innovation is more pronounced among state-owned enterprises, firms located in the eastern region, and companies operating in non-heavily polluting industries. Furthermore, mechanism analysis suggested that ESG information disclosure influences corporate green innovation through two primary channels: easing financing constraints and attracting the attention of analysts. However, this study acknowledged the limitations of the mechanism analysis. Future research should aim to integrate insights from related disciplines to further explore the mechanisms by which ESG information disclosure affects corporate green innovation from a more comprehensive perspective.

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企业绿色创新：环境、社会和治理信息披露的影响

环境、社会和治理（ESG）是可持续发展的一个重要概念，对企业绿色经济活动的形成起着至关重要的作用。本研究利用2013年至2022年中国A股上市公司的数据，研究了ESG信息披露对企业绿色创新的影响。研究结果表明，ESG 信息披露显著促进了企业的绿色创新，并且在各种稳健性检验和内生性检验中结果依然稳健。异质性分析表明，ESG信息披露对企业绿色创新的积极影响在国有企业、东部地区企业和非重污染行业企业中更为明显。此外，机理分析表明，ESG 信息披露主要通过两个渠道影响企业绿色创新：缓解融资约束和吸引分析师的关注。不过，本研究也承认机制分析的局限性。未来的研究应着眼于整合相关学科的见解，从更全面的角度进一步探讨ESG信息披露影响企业绿色创新的机制。

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

Journal of Innovation & Knowledge Multiple-

CiteScore

16.10

自引率

12.70%

发文量

118

审稿时长

37 days

期刊介绍： The Journal of Innovation and Knowledge (JIK) explores how innovation drives knowledge creation and vice versa, emphasizing that not all innovation leads to knowledge, but enduring innovation across diverse fields fosters theory and knowledge. JIK invites papers on innovations enhancing or generating knowledge, covering innovation processes, structures, outcomes, and behaviors at various levels. Articles in JIK examine knowledge-related changes promoting innovation for societal best practices. JIK serves as a platform for high-quality studies undergoing double-blind peer review, ensuring global dissemination to scholars, practitioners, and policymakers who recognize innovation and knowledge as economic drivers. It publishes theoretical articles, empirical studies, case studies, reviews, and other content, addressing current trends and emerging topics in innovation and knowledge. The journal welcomes suggestions for special issues and encourages articles to showcase contextual differences and lessons for a broad audience. In essence, JIK is an interdisciplinary journal dedicated to advancing theoretical and practical innovations and knowledge across multiple fields, including Economics, Business and Management, Engineering, Science, and Education.