Sustainable Media and Green Innovation: The Impact of Sustainable Atmosphere and Environmental Regulation on Manufacturing Enterprises

This study proposes a research framework for media attention towards green innovation of manufacturing enterprises based on the theory of stakeholders and legitimacy. We examine the potential effect of media attention on the manufacturing industry and make a multidimensional heterogeneity analysis with a sample of Chinese manufacturing enterprises during 2011-2019. Our results show an inverted U-shaped relationship between various attentions of media and green innovation. We find that the early attention of the media can expand the green innovation ability of manufacturing enterprises. However, the excessive attention of the media later may decrease the green behavior of enterprises. The legitimacy pressure of media attention on enterprises helps enterprises carry out green innovation and reduce false green innovation activities. In addition, the sustainable construction, environmental regulations, and sustainable social atmosphere focused on by the media will have a positive effect on the green innovation of enterprises. We suggest that recognizing the importance and potential power of sustainable media, environmental regulations, and sustainable atmosphere in green technology is a key component of the ecological inclusive path to promote the achievement of sustainable development goals.