Environmental regulation, academic top managers and green innovation: Evidence from China

Xiangguo Zhang, Weiyi Zhao and Danxia Xie

Finance Research Letters, 2024, vol. 69, issue PB

Abstract: This study examines the impact of top managers’ academic backgrounds on green innovation within the context of China’s new Environmental Protection Law. Utilizing green patent data from listed companies in the China A-Share market from 2008 to 2019, and employing the DID approach, we find the law significantly boosts green innovation in firms led by academically skilled managers. However, this effect diminishes in state-owned enterprises and financially constrained firms. Our findings emphasize the critical roles of managerial academic backgrounds and autonomy in advancing green innovation.

Keywords: Academic top managers; Corporate finance; Green innovation; Environmental regulation (search for similar items in EconPapers)
JEL-codes: G18 G32 K32 O31 Q56 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324011589

DOI: 10.1016/j.frl.2024.106129

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