The Moderating Effect of Firm Life Cycle on the Influence of Financial Performance and Green Innovation Performance on Environmental, Social, and Governance Reporting: Evidence From China

IF 5.3 2区哲学 Q2 BUSINESS

Business Ethics the Environment & Responsibility Pub Date : 2026-06-11 Epub Date: 2025-06-09 DOI:10.1111/beer.12840

Fawad Rauf, Qi Baolei, Khwaja Naveed, Syed Usman Qadri

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Abstract

This study examines the influence of green innovation performance and financial performance on environmental social and governance reporting by considering the impact of the firm life cycle as a moderator. The study used OLS regressions with panel data from the CSMAR and Bloomberg databases to verify our research propositions on a sample of 15,410 firm-year observations from 2015 to 2021. The study's findings indicate that firm life cycle moderates the association between green innovation performance, financial performance and ESG disclosure in China. The findings have implications for academics, practitioners, and regulators relevant to environmental social and governance reporting. Additionally, the results provide authorities and the board of directors with information about the firms and states' prospects for growth. The research is unique because it addresses the moderating role of a firm life cycle in the link between environmental social and governance reporting and the financial performance of green innovation performance.

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企业生命周期对财务绩效和绿色创新绩效对环境、社会和治理报告影响的调节作用：来自中国的证据

本研究通过考虑企业生命周期作为调节因子的影响，考察了绿色创新绩效和财务绩效对环境、社会和治理报告的影响。该研究使用OLS回归和来自CSMAR和Bloomberg数据库的面板数据，以2015年至2021年的15410个公司年观测样本验证我们的研究命题。研究发现，企业生命周期对绿色创新绩效、财务绩效和ESG信息披露之间的关系具有调节作用。研究结果对与环境、社会和治理报告相关的学者、从业者和监管机构具有启示意义。此外，调查结果还为当局和董事会提供了有关企业和各州增长前景的信息。这项研究是独特的，因为它解决了企业生命周期在环境、社会和治理报告与绿色创新绩效的财务绩效之间的联系中的调节作用。

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来源期刊

Business Ethics the Environment & Responsibility Multiple-

CiteScore

5.20

自引率

19.00%

发文量