ISSN 2096-2533

CN 42-1881/F



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发布时间:2023-09-28作者:阮青松 谢远鑫 吕大永浏览次数:329


Does Local Governments' Attention to Environment Promote Firm's Green Innovation? Evidence from Chinese A-share Listed Firms

Ruan Qingsong, Xie Yuanxin, Lv Dayong


Abstract: Improving firm's green innovation has become a highly debated topic in academia in recent years. This paper explores the effect of the local governments' attention to environment on the firm's green innovation with a panel data of 297 Chinese cities over the period 2009—2020. We find the governments' attention to environment effectively promotes the firm's green innovation, this result still holds after a series of robustness checks. The possible explanations show that firm carries out green innovation activities to avoid government environmental regulatory penalties. The positive correlation between the local governments' attention to environment and firm's green innovation is more pronounced for economically developed regions, environmental information disclosure firms, large-scale enterprises, and those uncertified firms with environmental management systems. This suggests that the motivation of firms to avoid environmental regulatory penalties provides a plausible explanation for the positive relationship between local governments' attention to environment and firm's green innovation. Therefore, enhancing the local governments' attention to environment and strengthening their environmental monitoring efforts are of great significance in improving the level of corporate green innovation and expediting the establishment of an eco-friendly society.
Keywords: Governments' Attention to Environment; Firm's Green Innovation; Moderating Effects; Environmental Regulation


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