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Third Party Environmental Disclosure and Firm’s Green Innovation: Evidence from a Natural Experiment in China

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  • Chuanjian Luo
  • Ying Luo
  • Wenhao Ma
  • Jie Gao

Abstract

This study examines whether third party environmental disclosure affect green innovation at the firm-level. We find that environmental disclosure promotes Chinese companies to carry out green innovations. We further demonstrate that environmental disclosure has a long-term positive impact on green innovation of companies. Our findings are robust to alternative measures and different model specifications. In addition, we show that the relationship between environmental disclosure and green innovation of companies is moderated by the stakeholder attention, company’s location, company’s ownership, company’s industry and financing constraints. Overall, our results provide clear policy implications by revealing that third party environmental disclosure can be used as a substitute for environmental regulations at this stage.

Suggested Citation

  • Chuanjian Luo & Ying Luo & Wenhao Ma & Jie Gao, 2022. "Third Party Environmental Disclosure and Firm’s Green Innovation: Evidence from a Natural Experiment in China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(2), pages 365-380, January.
    • Handle: RePEc:mes:emfitr:v:58:y:2022:i:2:p:365-380
    DOI: 10.1080/1540496X.2021.1987214
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    Cited by:

    1. Lu, Zhiqiang & Li, Hongyu, 2023. "Does environmental information disclosure affect green innovation?," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 47-59.
    2. Zhang, Xiaoding & Niu, Yiran & Si, Deng-kui & Xiao, Zumian, 2024. "Regulatory greening: The impact of environmental legislation on corporate green innovation," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 359-376.

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