The impact of online media on corporate green innovation: The moderating role of financial regulation

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-11-27 DOI:10.1016/j.frl.2024.106526

Zhenning Yuan , Sai Zhang , Shuguang Wu , Jong Han Lee

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Abstract

This study explores the relationship between online media and corporate green innovation, with financial regulation serving as a moderating factor. Utilizing a sample of 3,329 Chinese-listed manufacturing companies spanning from 2011 to 2022, we employed a combination of regression analysis and mediation testing to investigate our hypotheses. The results reveal that online media exposure significantly stimulates corporate green innovation, and investor attention positively influences this process. Furthermore, research and development investment acts as a mediator, amplifying online media's promotional effect on corporate green innovation. Importantly, our findings indicate that strengthened financial regulation fosters a robust positive correlation between online media and corporate green innovation. In conclusion, this study highlights the crucial role of online media, investor attention, R&D investment, and financial regulation in driving corporate green innovation, offering insights for policymakers and practitioners aiming to promote sustainable development.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance