Local governments’ environmental emphasis and corporate green innovation: evidence from China

Yueyang Zhao (), Jinzhou Mao () and Yueshan Li ()
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Yueyang Zhao: Jilin University
Jinzhou Mao: Jilin University
Yueshan Li: Jilin University

Economic Change and Restructuring, 2022, vol. 55, issue 4, No 22, 2577-2603

Abstract: Abstract To study the effect of green industrial policies comprehensively, this paper takes uses a sample of Chinese Shanghai and Shenzhen A-share listed companies from 2008 to 2019 to study the impact of local governments’ environmental emphasis on corporate green innovation. The results show that local governments’ environmental emphasis has a significant positive impact on the number of green patents of enterprises. More importantly, local governments’ environmental attention mainly plays its role by improving the environmental protection awareness of corporate executives and increasing environmental protection subsidies. In addition, the effect of local governments’ environmental emphasis is more pronounced in state-owned enterprises, firms with low financing constraints, and heavily polluting firms. Further research finds that local governments’ environmental emphasis has a significant role in promoting the number of green invention patents and non-invention patents, but only green invention patents enhance the intrinsic value of enterprises.

Keywords: Environmental importance; Green innovation; Environmental awareness; Environmental subsidies (search for similar items in EconPapers)
JEL-codes: C23 L53 Q55 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (11)

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DOI: 10.1007/s10644-022-09406-3

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