The more red the greener? How the Communist Party of China's party organizations influences corporate green innovation

Yun Gu and Zhaohui Yang

Finance Research Letters, 2023, vol. 55, issue PA

Abstract: The economic consequences of political parties embedded in corporate governance have become a recent emergent agenda. This paper use private listed companies in A-shares from 2009 to 2020 as the sample and investigate the impact of private enterprises (PEs) establishing CPC party organizations on corporate green innovation(CGI) through multi-period DID model and mediating effect model. The results show that the establishment of CPC party organizations by PEs can effectively improve CGI. The transmission mechanism is that CPC party organisations can help companies alleviate their financing constraints and push them to improve their environmental, social and governance performance.

Keywords: Private enterprises; CPC party organizations; Green innovation; Financing constraints; ESG performance; Differences in differences (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:55:y:2023:i:pa:s1544612323002325

DOI: 10.1016/j.frl.2023.103860

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