Innovation-driven development and corporate green innovation

Dongmin Kong, Genben Xiang and Ling Zhu

Finance Research Letters, 2024, vol. 68, issue C

Abstract: This study investigates the impact of innovation-driven development on corporate green innovation. Leveraging China's national innovation-driven pilot policy as a quasi-natural experiment, we employ a difference-in-differences (DID) approach to demonstrate that this policy significantly boosts corporate green innovation. Our findings reveal three key mechanisms through which innovation-driven development fosters green innovation: stimulating R&D investment, enhancing green innovation efficiency, and promoting corporate social responsibility. Heterogeneity analysis indicates that the policy's effects are more pronounced for firms with higher analyst attention, stricter financing constraints, and more stringent environmental regulations.

Keywords: Innovation-driven development; Green innovation; Innovation efficiency; Corporate social responsibility (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612324010389
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:finlet:v:68:y:2024:i:c:s1544612324010389

DOI: 10.1016/j.frl.2024.106008

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().