How Do Firms Promote Green Innovation through International Mergers and Acquisitions: The Moderating Role of Green Image and Green Subsidy

Hang Wu and Yiying Qu
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Hang Wu: Business School, East China University of Political Science and Law, Shanghai 200042, China
Yiying Qu: Business School, East China University of Political Science and Law, Shanghai 200042, China

IJERPH, 2021, vol. 18, issue 14, 1-16

Abstract: Carrying out green innovation is beneficial for firms to cope with environmental protection pressure and achieve sustainable development. Existing research has paid enough attention to the driver of green innovation, but still does not reveal how green innovation can be conceived and realized. This paper answers the above question from the perspective of international M&As, examines the relationship between exploratory international M&As, exploitative international M&As and green innovation performance, and further probes into how strategic and environmental factors moderate the green innovation effectiveness of exploratory and exploitative M&As. Results indicate that exploratory and exploitative international M&As both are beneficial for green innovation performance, and to maximize green innovation performance, implementing exploratory M&As is more beneficial for firms pursuing high green image and operating in a high green subsidy environment. By contrast, carrying out exploitative M&As is more effective for firms pursuing low green image and operating in a low green subsidy environment. Theoretical and managerial implications are discussed.

Keywords: green innovation; exploratory international M&As; exploitative international M&As; green image; green subsidy (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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