Unveiling Knowledge Economy Dynamics in China: Insights into Creation, Diffusion, and Application Across Varied Contexts

Lin Yu, Xiuhua Xu, Weijie Zhang, Zhouping Fu and Zhenyu Wu ()
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Lin Yu: Zhejiang University of Finance and Economics
Xiuhua Xu: Zhejiang University of Finance and Economics
Weijie Zhang: NetEase, Inc.
Zhouping Fu: Sino International Consulting
Zhenyu Wu: Zhejiang Pharmaceutical University

Journal of the Knowledge Economy, 2024, vol. 15, issue 3, No 77, 24 pages

Abstract: Abstract This study delves into the intricate relationship between government subsidies and corporate environmental, social, and governance (ESG) performance in the context of China’s evolving knowledge economy. We establish a significant link between government subsidies and improved ESG performance by examining a sample of Chinese-listed firms. Moreover, this positive association is robust in state-owned enterprises and firms with institutional ownership. Our findings offer valuable insights into the role of government interventions in shaping corporate sustainability efforts, contributing to the understanding of dynamic interactions within the knowledge economy of China. This research augments the discourse on sustainable development by highlighting the ways in which government policies can incentivize positive ESG outcomes, ultimately advancing the wider understanding of how economic growth and responsible business practices intersect. Further investigations could focus on unraveling the intricate mechanisms that underlie the observed relationship between government subsidies and ESG engagement, thereby deepening our comprehension of sustainable practices within evolving economies.

Keywords: Government subsidies; Corporate environmental; Sustainable development; China (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s13132-023-01581-6

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