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Impacts of government ESG policies on corporate green innovation

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  • Zhang, Haitian
  • Wang, Benxue

Abstract

This paper takes the A-share listed companies from 2014 to 2022 as the research object to explore the impact of China's standardized ESG information disclosure policy on corporate green innovation. The study found that in 2018, the Chinese government's ESG information disclosure policy significantly improved the quality and quantity of corporate green patent innovation. This paper believes that this policy has produced a significant ESG practice strengthening effect, research and development expenditure confirmation effect, and expanded financing channel effect, that is, after the policy implementation, the corporate ESG score and environmental score have increased, the capitalization ratio of R&D expenditure has increased, and external financing constraints have weakened. Our research provides empirical evidence for promoting corporate green transformation through government-standardized ESG information disclosure.

Suggested Citation

  • Zhang, Haitian & Wang, Benxue, 2024. "Impacts of government ESG policies on corporate green innovation," International Review of Economics & Finance, Elsevier, vol. 94(C).
    • Handle: RePEc:eee:reveco:v:94:y:2024:i:c:s1059056024003757
    DOI: 10.1016/j.iref.2024.103383
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