Extreme climate, innovative ability and energy efficiency

Wang, Haijie; Tang, Kai

doi:10.1016/j.eneco.2023.106586

Cited by 39 publications

(2 citation statements)

References 78 publications

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“…The changing process of innovation intuitively reflects the direction of regional development toward sustainability, as well as the importance that governments place on green innovation (Bin Amin et al, 2021; Fu et al, 2020, 2023; Lee et al, 2021; Wang & Tang, 2023; Wang et al, 2023; Zhao et al, 2023; Zheng, Feng, et al, 2023). In our view, the change of innovation type refers to a transformation of regional innovation from “traditional industrial innovation” to “green innovation”, which provides the impetus for sustainable development.…”

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confidence: 99%

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From traditional innovation to green innovation: How an occurrence of natural disasters influences sustainable development?

Ma,

Feng,

Chang

2023

Sustainable Development

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With the high incidence of extreme events, it is important to examine how the occurrence of natural disasters influences long‐term sustainable development. We give evidence from the changing process of innovation. Using data from OECD countries from 1985 to 2018, we conclude that environmental threats from the occurrence of natural disasters drive countries to pay more attention to sustainable development and promote the change of innovation type from traditional to green innovation. Moreover, for different types of natural disasters, volcanic activities, landslides, and floods show a positive influence, while epidemics dampen it. Based on the sub‐sample analysis, this impact is more pronounced in countries with high levels of economic development, oil exports and right‐wing parties in power. Furthermore, renewable energy consumption acts as a positive moderator, while the moderating effects of government efficiency, corruption and globalization are inhibiting. Our paper provides new insights into natural disaster economics and sustainable development.

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Section: Introductionmentioning

confidence: 99%

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confidence: 99%

From traditional innovation to green innovation: How an occurrence of natural disasters influences sustainable development?

Ma,

Feng,

Chang

2023

Sustainable Development

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Climate risk and trade credit financing: Evidence from China

Chen,

Guo,

Geng

et al. 2024

Int. J Fin Econ

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Using A‐share listed firms from 2009 to 2020 as a research sample, this study constructs firm‐level climate risk through textual analysis to examine whether and how corporate climate risk affect trade credit financing. The empirical results show that increased climate risk inhibits the level of trade credit financing of firms. The results are more prominent for those enterprises without government‐enterprise linkages and firms in cities with high levels of environmental regulation intensity and low levels of city trust. Furthermore, mechanism tests suggest that operational risk and information asymmetry are the main channels affecting the above relationships. In addition, we find that the negative impact of climate risk on trade credit financing will weaken firm value. This paper enriches the research on the impact of climate risk on microeconomic agents and provides new perspectives to alleviate corporate financing constraints.

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ESG disclosures, green innovation, and greenwashing: All for sustainable development?

Ma,

Feng,

Yin

et al. 2024

Sustainable Development

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As stakeholder concerns about corporate sustainability intensify, greenwashing—where companies deceptively report their environmental performance for short‐term economic gain—poses a significant threat to long‐term sustainability, making it crucial to explore effective ways to curb this practice. Using data from 1,270 Chinese listed companies from 2009 to 2019, this study constructs two‐way fixed effects and moderating effects models to explore the crucial role of green innovation in curbing greenwashing. Green innovation not only reduces the incentives for greenwashing, but also makes a genuine contribution to environmental protection, thus promoting a “win‐win” scenario for both sustainability and corporate development. Moreover, the positive impact of green innovation on curbing greenwashing can be significantly amplified by easing financial constraints and enhancing firms’ risk‐taking capabilities to foster a stable financial environment, as well as by strengthening the governance structure through increased gender diversity and environmental background among managers. Heterogeneity tests show that this pathway is particularly effective in companies with heavy pollution and higher economic performance. The research findings help to formulate more effective management strategies and incentive mechanisms to reduce greenwashing and achieve sustainable development.

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Extreme climate, innovative ability and energy efficiency

Cited by 39 publications

References 78 publications

From traditional innovation to green innovation: How an occurrence of natural disasters influences sustainable development?

From traditional innovation to green innovation: How an occurrence of natural disasters influences sustainable development?

Climate risk and trade credit financing: Evidence from China

ESG disclosures, green innovation, and greenwashing: All for sustainable development?

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