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From green-washing to innovation-washing: Environmental information intangibility and corporate green innovation in China

Author

Listed:
  • Xing, Chao
  • Zhang, Xinyue
  • Zhang, Yuming
  • Zhang, Luxiu

Abstract

We use a sample of China's listed firms and employ a naïve Bayesian machine learning algorithm to reveal that environmental information intangibility superficially promotes green innovation. We demonstrate that this effect is channelled through the acquisition of institutional resources, including bank loans and government subsidies. The impact of environmental information intangibility on green innovation is most pronounced in state-owned enterprises, large firms, and politically connected firms. Furthermore, we confirm that environmental information intangibility does not lead to improvements in innovation efficiency or quality. This implies that green innovation may serve as a symbolic environmental activity. Our findings contribute to the research on environmental information intangibility, greenwashing behaviour, and their relationship to green innovation.

Suggested Citation

  • Xing, Chao & Zhang, Xinyue & Zhang, Yuming & Zhang, Luxiu, 2024. "From green-washing to innovation-washing: Environmental information intangibility and corporate green innovation in China," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 204-226.
    • Handle: RePEc:eee:reveco:v:93:y:2024:i:pb:p:204-226
    DOI: 10.1016/j.iref.2024.03.077
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    Keywords

    Environmental information; Intangibility; Green innovation; Greenwashing; China;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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