Green innovation is a key way for firms to establish competitive advantage and contribute to sustainable development, but it often suffers from financing constraints. In this regard, environmental, social, and governance (ESG) practices allow firms to have a wider investor base, face lower risk, and generate positive market reactions, ultimately leading to a lower cost of capital, which may potentially alleviate financing constraints and provide strong motivation for green innovation. Combining stakeholder theory with the resource-based view (RBV), this study investigated how ESG substantially affects corporate green innovation. Based on a zero-inflated Poisson regression analysis of 1577 listed Chinese manufacturing firms, we found that better ESG could significantly induce better corporate green innovation, and financing constraints acted as a mediator in the relationship between ESG and green innovation.Our findings contribute to a more detailed understanding of the mechanisms by which corporate pro-social decision-makings initiate and boost green innovation.
The march toward marrying good business practice with sustainability in the global marketing contexts is articulated with the hope of decoupling consumption and affluence from environmental deterioration. However, the key question, whether and how chief executive officers' (CEO) psychological characteristics exert its influence on corporate marketing activities with relation to environmental conservation, is still unsolved. The current study aimed at examining how the personality traits of CEOs affect corporate green marketing program (GMP), with primary regard to CEO narcissism. On the basis of a moderated mediation analysis on a batch of survey data from a sample of manufacturing firms in China, the findings showed that narcissistic CEOs are often associated with the higher level of the corporate green marketing program.Besides, corporate environmental strategy (ES) plays a role of mediator in the relationship between CEO narcissism and the implementation of green marketing. Furthermore, regulatory pressure not only significantly drives corporate environmental strategy and green marketing program but also moderates the relationships among CEO narcissism, corporate environmental strategy, and green marketing program.This study shines light on the establishment of management mode, which could illuminate both business practitioners and policymakers on the governance of sustainability.
The march toward fusing business with sustainability is articulated with the hope of offering solutions to global environmental degradation. Green innovation is often regarded as an effective strategy to induce double externality with positive innovation and environmental spillovers. Despite numerous research works on determinants of green innovation, the key question, however, whether and how organizational improvisation exerts its influence on innovatively being green is still unsolved. On this basis, the current study seeks to demonstrate a connection between organizational improvisation and corporate green innovation. According to the presented theoretical framework, organizational improvisation, which serves as a catalyst for improving learning processes, promotes green innovation. Furthermore, dynamic capabilities mediate this relationship, and top management risk aversion could weaken the successful transformation of substantive innovation and being green. Empirical evidence is found based on a sample of Chinese manufacturing firms with a moderated mediation analysis. These results extend the understanding of the role of improvisation in green achievements towards the fusion of unplanned change and order.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.