Research on the impact mechanism of enterprise green technology innovation based on the analysis framework of theory of planned behavior: evidence from heavily polluting listed enterprises in China

Wang, Liping; Jin, Shucen; Li, Chuang

doi:10.1007/s11356-022-22768-5

Cited by 11 publications

(3 citation statements)

References 92 publications

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“…The number of green patents granted was more representative of local efforts in environmental protection compared to technological innovation. Therefore, it could better reflect the quality of green technology innovation activities (Wang et al, 2022).…”

Section: Methodsmentioning

confidence: 99%

The influence effect of regional carbon emission reduction under the perspective of fiscal decentralization: Government intervention or market mechanism?

Li,

Wang

2024

Manage Decis Econ

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Based on the perspective of fiscal decentralization, the study focuses on 30 provinces in China and employs various econometric models including the threshold model, spatial econometric model, mediation model, and regulation model. The research findings indicate that fiscal decentralization has a double‐threshold effect on government intervention, market mechanisms, and regional carbon emission reduction. Both government intervention and market mechanisms have inhibiting effects on carbon emission, with significant coefficients of GOVI and MARM at the 1% level. The cooperation between government intervention and the market mechanism effectively limits carbon emissions. Government intervention facilitates regional carbon emission reduction through the construction of new infrastructures and energy structure transformation, yielding a significant intermediary effect. The market mechanism is positively regulated through green finance and technology innovation to promote regional carbon emission reduction. Moreover, government intervention enables the market to achieve carbon emission reduction more effectively, especially in areas with a higher degree of government intervention. Continuous improvement and upgrading of regional and national carbon markets are essential to attain the carbon peak and carbon neutrality goals. Furthermore, attracting more participants to these markets for emission control subjects is necessary to enhance the effectiveness of government–market coordination.

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Section: Methodsmentioning

confidence: 99%

The influence effect of regional carbon emission reduction under the perspective of fiscal decentralization: Government intervention or market mechanism?

Li,

Wang

2024

Manage Decis Econ

Self Cite

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“…In addition, managers’ risk preference will also more intuitively affect the structure and efficiency of innovation resources allocation, thus interfering with the willingness and behavior of enterprises to implement green innovation [ 24 ]. Managers who dare to take risks are more willing to make aggressive and risky strategic decisions and increase investment in green innovation to obtain high returns [ 25 ]. Secondly, innovation theory holds that available capital is vital in technological innovation.…”

Section: Literature Review Theoretical Analysis and Hypothesismentioning

confidence: 99%

Annual report text’s positive tone and corporate green innovation: Evidence from China

Gao,

Feng

2024

PLoS ONE

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From the perspective of annual report text information, we study the relationship between the annual report text’s positive tone and corporate green innovation. Taking listed companies from 2010 to 2022 as a sample, we found that the positive tone of the annual report text significantly improves the company’s green innovation while improving the quantity and quality of green innovation. The mechanism test shows that the main channels are easing corporate financing constraints and enhancing external attention. Regarding heterogeneity analysis, we found that the positive annual report text has a more significant effect on corporate green innovation in companies with high economic policy uncertainty and non-heavily polluting industries. Finally, we found that the positive tone of the annual report text can ultimately improve the company’s long-term value through green innovation. Our study has enriched the theoretical research on the annual report text tone and provided empirical evidence for promoting enterprise green innovation.

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“…(Qi and Han 2021; Yu et al 2022) found that the implementation of carbon trading system has a promoting effect on regional green development, especially on the green development e ciency of eastern China, by studying the green development e ciency of cities in east and west China; (Ren et al 2022; Wang et al 2021) found that the implementation of carbon trading system has a promoting effect on regional green development, especially on the green development e ciency of eastern China by examining the effect of carbon trading system on the investment and nancing behavior of enterprises after the implementation of carbon trading system. (Ren et al, 2022;Wang et al, 2021) found that the carbon trading system changed the green technology innovation and nancial assets investment of the pilot enterprises, and there were differences in the response strategies of different enterprises to the carbon trading system, with private enterprises more inclined to carry out green technology innovation and state-owned enterprises more inclined to increase nancial assets investment; (Wang et al, 2023;Yang et al, 2023) found that the carbon trading system changed the green technology innovation and nancial assets investment of the pilot enterprises. 2023) found that the carbon trading system indirectly affects rm performance through the mechanism of rm technological innovation and the mechanism of rm external environment by examining the carbon trading system, and the system has no signi cant effect on the performance of both state-owned enterprises and large enterprises, while there is a signi cant negative effect on the performance of non-state-owned enterprises and small and mediumsized enterprises.…”

Section: Literature Reviewmentioning

confidence: 99%

Carbon trading systems and Credit Spreads of Highly Polluting Corporate Bonds: An Empirical Study Based on a Triple Difference Model

Liu

Chen

et al. 2023

Preprint

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The global environment has been changing rapidly since the 21st century, and the harmonious coexistence between human beings and nature has been seriously challenged, and the green transformation of highly polluting enterprises has become a requirement of the times. Based on monthly corporate bond data and annual corporate financial data from January 2009 to December 2019 in China, this paper constructs a triple difference model to test the impact of carbon trading system on corporate bond credit spreads. The results show that, first, the carbon trading system has a reducing effect on the credit spreads of bonds of highly polluting companies in the carbon trading pilot region, and the implementation of the carbon trading system can promote bond financing in the green transformation process of highly polluting companies. Second, there is heterogeneity in the impact of the carbon trading system on the credit spreads of bonds of high-polluting firms, with private firms, small-scale firms and emerging firms having a greater reduction in corporate bond credit spreads than state-owned firms, large-scale firms and senior firms. Third, the carbon trading system exposes high-polluting firms to the risk of bankruptcy in the "carbon trading market" due to high operating costs and small net profits, thus incentivizing high-polluting firms to raise bonds in the "investment and financing market" to promote their green transformation.

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Research on the impact mechanism of enterprise green technology innovation based on the analysis framework of theory of planned behavior: evidence from heavily polluting listed enterprises in China

Cited by 11 publications

References 92 publications

The influence effect of regional carbon emission reduction under the perspective of fiscal decentralization: Government intervention or market mechanism?

The influence effect of regional carbon emission reduction under the perspective of fiscal decentralization: Government intervention or market mechanism?

Annual report text’s positive tone and corporate green innovation: Evidence from China

Carbon trading systems and Credit Spreads of Highly Polluting Corporate Bonds: An Empirical Study Based on a Triple Difference Model

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