Corporate reputation gains from green innovation: Moderating effects of subsidies and eco-friendly products

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-08-01 DOI:10.1016/j.ribaf.2025.103108

Kainat Iftikhar , Tanveer Bagh , Muhammad Nadir Shabbir

{"title":"Corporate reputation gains from green innovation: Moderating effects of subsidies and eco-friendly products","authors":"Kainat Iftikhar , Tanveer Bagh , Muhammad Nadir Shabbir","doi":"10.1016/j.ribaf.2025.103108","DOIUrl":null,"url":null,"abstract":"<div><div>Green innovation is increasingly recognized as a strategic driver of sustainable development and corporate reputation. This study investigates the impact of green innovation on corporate reputation among Chinese listed firms from 2014 to 2022, employing rigorous identification techniques, including instrumental variable regression and propensity score matching, to address endogeneity. The findings demonstrate that green innovation significantly enhances corporate reputation. Furthermore, the analysis highlights the moderating roles of government subsidies and environmentally friendly products, indicating that subsidies can diminish the positive effects of green innovation. In contrast, firms producing green products experience greater benefits in terms of reputation. The mediating role of environmental certification in strengthening the relationship between green innovation and corporate reputation is also established. Cross-sectional analyses reveal asymmetrical influence of green innovation across high-tech, polluted, and environmentally friendly firms. Overall, this research contributes to existing literature and provides valuable policy insights for policymakers and business analysts, emphasizing the importance of balancing government support and market-driven approaches to enhance corporate reputation through green innovation.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103108"},"PeriodicalIF":6.9000,"publicationDate":"2025-08-01","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/S0275531925003642","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

Green innovation is increasingly recognized as a strategic driver of sustainable development and corporate reputation. This study investigates the impact of green innovation on corporate reputation among Chinese listed firms from 2014 to 2022, employing rigorous identification techniques, including instrumental variable regression and propensity score matching, to address endogeneity. The findings demonstrate that green innovation significantly enhances corporate reputation. Furthermore, the analysis highlights the moderating roles of government subsidies and environmentally friendly products, indicating that subsidies can diminish the positive effects of green innovation. In contrast, firms producing green products experience greater benefits in terms of reputation. The mediating role of environmental certification in strengthening the relationship between green innovation and corporate reputation is also established. Cross-sectional analyses reveal asymmetrical influence of green innovation across high-tech, polluted, and environmentally friendly firms. Overall, this research contributes to existing literature and provides valuable policy insights for policymakers and business analysts, emphasizing the importance of balancing government support and market-driven approaches to enhance corporate reputation through green innovation.

查看原文本刊更多论文

绿色创新带来的企业声誉收益：补贴和环保产品的调节效应

绿色创新越来越被认为是可持续发展和企业声誉的战略驱动力。本研究采用工具变量回归和倾向得分匹配等严格的识别技术，对2014 - 2022年中国上市公司绿色创新对企业声誉的影响进行了研究。研究结果表明，绿色创新显著提高了企业声誉。政府补贴和环境友好型产品的调节作用表明，政府补贴会削弱绿色创新的积极效应。相比之下，生产绿色产品的公司在声誉方面获得了更大的利益。环境认证在强化绿色创新与企业声誉关系中的中介作用也得以确立。横断面分析揭示了绿色创新对高科技企业、污染企业和环境友好型企业的不对称影响。总体而言，本研究对现有文献有所贡献，并为政策制定者和商业分析师提供了有价值的政策见解，强调了平衡政府支持和市场驱动方法对通过绿色创新提高企业声誉的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

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