How CEO power intensity drives the improvement of corporate green innovation performance: An in-depth analysis based on the mediating role of financing costs

Bo Yang and Xiqiao Du

Finance Research Letters, 2025, vol. 83, issue C

Abstract: This research examines the mechanism through which CEO power dynamics drive improvements in corporate green innovation (CGI) performance among Chinese listed firms during 2008–2023, with a focus on the mediating role of financing costs. Empirical results reveal a significant positive association between CEO power intensity and green innovation performance, which is particularly pronounced in eastern-region enterprises and small-to-medium sized enterprises (SMEs). Financing costs are found to play a critical mediating role in the relationship between CEO power and CGI performance. Further analysis shows that this mediating effect of financing costs is more salient in private enterprises compared to state-owned enterprises.

Keywords: CEO power intensity; Corporate green innovation performance; Financing costs (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325009924

DOI: 10.1016/j.frl.2025.107734

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