Does Interlocking Directors’ Green Experience Richness Enhance the Green Innovation Efficiency of Chinese Listed Companies?

Jinyu Zhao (), Lu Zhao and Tingyu Yan
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Jinyu Zhao: School of Urban Economics and Management, Beijing University of Civil Engineering and Architecture, Beijing 100044, China
Lu Zhao: School of Urban Economics and Management, Beijing University of Civil Engineering and Architecture, Beijing 100044, China
Tingyu Yan: Financial Management Center, Zoomlion Heavy Industry Science & Technology Co., Ltd., Changsha 410000, China

Sustainability, 2025, vol. 17, issue 5, 1-24

Abstract: In the midst of sweeping economic transformation, owing to the increasing strategic importance of environmental issues, directors’ green experience is crucial for green innovation. This paper proposes the concept of interlocking directors’ green experience richness (IDGER), considering both the number of directors with green experience and their green linkage strength from the director network. This paper conducts theoretical exploration and empirical research on the impact of IDGER on the companies’ green innovation efficiency. The findings reveal (1) IDGER significantly enhances the green innovation efficiency of Chinese listed companies, and the result is also validated through robustness tests. This study expands the antecedents of green innovation from a board governance perspective. (2) IDGER can enhance green innovation efficiency by increasing executive environmental attention, reducing managerial myopia, and alleviating financing constraints. (3) Media attention can positively moderate the relationship between IDGER and company green innovation efficiency. This expands the understanding of the role of directors’ green experience in corporate green innovation and provides new ideas for emerging market companies on how to promote green innovation by optimizing the composition of their board of directors for achieving sustainable development goals.

Keywords: interlocking directors’ green experiences; green innovation efficiency; environmental attention; managerial myopia; financing constraints; media attention (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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