Role of Corporate Governance and Green Process Innovation Toward Firm Financial Performance

Ke Gao (), Bingjun Zhou () and Rashid Mehmood
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Ke Gao: Guangxi Science & Technology Normal University
Bingjun Zhou: Bansomdejchaopraya Rajabhat University
Rashid Mehmood: University of Education

Chapter Chapter 10 in The Palgrave Handbook of Green Finance for Sustainable Development, 2024, pp 263-280 from Palgrave Macmillan

Abstract: Abstract We investigate the impact of corporate governance and green process innovation on firm financial performance. With a sample of 550 listed non-financial firms of Asian emerging economies, we take data from DataStream from 2012 to 2021. Analysis of the data is performed using generalized method of moments (GMM). Findings of our study show that board size and CEO duality have significant and negative, while independent directs exhibit a significant and positive impact on firm performance. Moreover, green process innovation has a significant positive impact on financial performance of firms which provides that investment in green innovation can enhance the performance of the firms. The findings provide implications for corporate governance practices to enhance performance. In additions, results provide best practices for green process innovation that yield positive results for financial performance.

Keywords: Green Process Innovation; Financial Performance; Corporate Governance; Non-financial Sector; GMM; Asian Emerging Economies (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-031-65756-6_10

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DOI: 10.1007/978-3-031-65756-6_10

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