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Do green concerns promote corporate green innovation? Evidence from Chinese stock exchange interactive platforms

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  • Haidong Li
  • Ziming Qian
  • Shanyong Wang
  • Jing Wang
  • Qian Wang

Abstract

How to inspire firms to conduct green innovation is still an under‐explored question. This study finds that the green concerns of minority shareholders can significantly promote firms to conduct green innovation. Mechanism tests reveal that green concerns promote firm green innovation by increasing media attention and reducing financing constraints. Further research shows that the positive effect of green concerns of minority shareholders on green innovation is more significant for companies with high competition, more effective internal controls, and high public involvement at the location. Based on the findings, policy implications of promoting corporate green innovation are discussed.

Suggested Citation

  • Haidong Li & Ziming Qian & Shanyong Wang & Jing Wang & Qian Wang, 2023. "Do green concerns promote corporate green innovation? Evidence from Chinese stock exchange interactive platforms," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(3), pages 1786-1801, April.
    • Handle: RePEc:wly:mgtdec:v:44:y:2023:i:3:p:1786-1801
    DOI: 10.1002/mde.3783
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    3. Muhammad Ramzan & Mohammad Razib Hossain & Kashif Raza Abbasi & Tomiwa Sunday Adebayo & Rafael Alvarado, 2024. "Unveiling time-varying asymmetries in the stock market returns through energy prices, green innovation, and market risk factors: wavelet-based evidence from China," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-36, June.
    4. Zhao, Yang, 2024. "Retail shareholder activism and investment efficiency," International Review of Financial Analysis, Elsevier, vol. 93(C).

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