Can reverse mixed reform promote green innovation in Chinese private enterprises?

Qian Mao and Xiaofeng Quan

Finance Research Letters, 2025, vol. 76, issue C

Abstract: Based on the background of mixed-ownership reform in China, this article deeply studies the influence of reverse mixed reform on green innovation in Chinese private companies. "Reverse mixed reform" refers to a situation where state-owned capital invests in private companies. The present article takes Chinese A-share manufacturing private listed companies as the research object and uses a multi-period difference-in-differences method for testing. The results show that (1) reverse mixed reform not only increases the quantity of green innovation in private enterprises, but also enhances the quality of their green innovation; (2) the promoting effect is mainly achieved through mechanisms such as enhancing private enterprise executives' willingness to engage in green innovation and increasing enterprise resources; (3) the promoting effect is more significant in samples with higher environmental regulation intensity and less industry competition.

Keywords: Reverse mixed reform; Green innovation; Multi-period difference-in-differences (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:76:y:2025:i:c:s1544612325002466

DOI: 10.1016/j.frl.2025.106982

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