Effects of climate policy uncertainty on green innovation in Chinese enterprises

Guanglin Sun, Jiming Fang, Ting Li and Yongfang Ai

International Review of Financial Analysis, 2024, vol. 91, issue C

Abstract: Climate policy uncertainty is an important factor for green innovation in Chinese enterprises. Drawing on data of officially listed enterprises in China from 2011 to 2020 this paper empirically tests the impact and mechanism of climate policy uncertainty on enterprises green innovation. Climate policy uncertainty has a significant negative impact on enterprises green innovation. Increasing climate policy uncertainty will inhibit enterprises green innovation. The intrinsic mechanism shows that the mediation effects of government green subsidies, environmental social responsibility, and financing constraints are significant. Increasing climate policy uncertainty inhibits green innovation by reducing government green subsidies, constraining enterprises to fulfilling their environmental social responsibility and raising financing constraints. All levels of the government in China should pay close attention to the impact of changes in the United States climate policies on enterprises.

Keywords: Climate policy uncertainty; Environmental social responsibility; Financing constraints; Government green subsidies; Enterprises green innovation (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1057521923004763
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:91:y:2024:i:c:s1057521923004763

DOI: 10.1016/j.irfa.2023.102960

Access Statistics for this article

International Review of Financial Analysis is currently edited by B.M. Lucey

More articles in International Review of Financial Analysis from Elsevier
Bibliographic data for series maintained by Catherine Liu ().