Supply chain spillover effects of corporate voluntary green behavior: A quasi-natural experiment from China

Yuan Qian

International Review of Economics & Finance, 2025, vol. 103, issue C

Abstract: Our study explores the supply chain spillover effects of corporate voluntary green behavior. Specifically, based on China's Green Manufacturing Program, we investigate whether a firm obtaining the Green Manufacturing Certification (GMC) endorsed by the government increases green innovation among upstream and downstream firms in the supply chain. We find that after obtaining the GMC, a firm's downstream clients experience a significant increase in green innovation. We perform a series of robustness tests and the results remain consistent. Heterogeneity analyses show that the positive impact of obtaining the GMC on client green innovation is more pronounced for firms in non-polluting industries, firms located in regions with less stringent environmental regulations, and clients with higher market competition. We also find that obtaining GMC has a significant positive impact on the green innovation of upstream suppliers. Our results indicate that government-endorsed green certification can effectively identify corporate voluntary green behavior and generate spillover effects among upstream and downstream firms.

Keywords: Supply chain spillover effect; Voluntary green behavior; Green innovation; Green manufacturing certification (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025006185

DOI: 10.1016/j.iref.2025.104455

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