Impact of Environmental, Social, and Governance on Innovation in Chinese Listed Firms

被引:2
|
作者
Wu, Renhong [1 ]
Li, Jinbao [2 ]
Dai, Yunhai [3 ]
Shen, Xiangdong [4 ]
Hossain, Md. Alamgir [5 ]
机构
[1] Kyung Hee Univ, Sch Management, Seoul 02447, South Korea
[2] Daqing Normal Univ, Dept Econ & Finance, Daqing 163111, Peoples R China
[3] Namseoul Univ, Korea China Business Studies, Cheonan 31020, South Korea
[4] Changshu Inst Technol, Business Sch, Changshu 215500, Peoples R China
[5] Hajee Mohammad Danesh Sci & Technol Univ, Dept Management, Dinajpur 5200, Bangladesh
关键词
ESG; corporate innovation; R&D; financial performance; innovation efficiency; internationalization; ESG DISCLOSURE; CASH HOLDINGS; CORPORATE; PERFORMANCE; INTERNATIONALIZATION; RESPONSIBILITY; EQUITY; COST;
D O I
10.3390/su16177482
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
As awareness of sustainable development has increased, the corporate advantages of ESG (environmental, social, and governance) have attracted widespread attention from investors, and research has demonstrated that ESG has a sustained impact on long-term business operations. At this new stage of market development, the relationship between ESG rating performance and corporate innovation is worthy of in-depth study. The effect of corporate ESG rating performance on innovation based on stakeholder theory was tested using data from Chinese A-share listed companies from 2009 to 2021. The results show that ESG rating performance can significantly improve corporate innovative output and R&D (research and development) investment. This promotional effect is more significant in large enterprises, state-owned enterprises, and companies in the eastern region of China. ESG rating performance promotes corporate innovation by improving firm financial performance and expanding internationalization. In addition, ESG rating performance not only increases the quantity of innovative output, but also helps to improve the quality of R&D investment. ESG strategy, standardized and mandatory disclosure of information pertaining to ESG, improved quality of information disclosed, and promotion of corporate innovation are all necessary to help enterprises develop in this new era.
引用
收藏
页数:24
相关论文
共 50 条
  • [31] The Impact of Consumer Environmental Preferences on the Green Technological Innovation of Chinese Listed Companies
    Yu, Ping
    Zeng, Linhui
    SUSTAINABILITY, 2024, 16 (07)
  • [32] The impact of central environmental inspection on institutional ownership: Evidence from Chinese listed firms
    Li, Quan
    Chen, Yang
    Wan, Mengfei
    PACIFIC-BASIN FINANCE JOURNAL, 2023, 77
  • [33] FIRM LOCATION AND INNOVATION: EVIDENCE FROM CHINESE LISTED FIRMS
    Xu, Jian
    Yang, Xi
    Xin, Daqi
    Zhou, Wencang
    Zhu, Xiaoyang
    JOURNAL OF DEVELOPMENTAL ENTREPRENEURSHIP, 2019, 24 (04)
  • [34] Returnees and innovation: evidence from Chinese publicly listed firms
    Qiao, Yibo
    Ascani, Andrea
    Breschi, Stefano
    Morrison, Andrea
    SCIENCE AND PUBLIC POLICY, 2024, 51 (05) : 861 - 878
  • [35] Understanding the Impact of Mandatory CSR Disclosure on Green Innovation: Evidence from Chinese Listed Firms
    Ren, Shenggang
    Huang, Min
    Liu, Donghua
    Yan, Ji
    BRITISH JOURNAL OF MANAGEMENT, 2023, 34 (02) : 576 - 594
  • [36] Environmental, Social, and Governance Information Rating and Firm Uncertainty Perception, Evidence from China Listed Firms
    Xu, Fei
    Zhu, Xingyu
    Li, Mingke
    SUSTAINABILITY, 2024, 16 (14)
  • [37] Impact of environmental, social and governance initiatives on firm value: Analysis using AI-based ESG scores for Japanese listed firms
    Chen, Zhixiong
    Sugiyama, Kohei
    Tasaka, Kazuyuki
    Kito, Tomomi
    Yasuda, Yukihiro
    RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2024, 70
  • [38] Green supplier integration and environmental innovation in Chinese firms: The joint effect of governance mechanism and trust
    Zhao, Yunhui
    Zhao, Chuanli
    Guo, Yi
    Sheng, Hongyan
    Feng, Taiwen
    CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2021, 28 (01) : 169 - 183
  • [39] Impact of environmental protection tax on enterprise digital transformation: Evidence from Chinese listed firms
    Zhang, Xinyu
    Liu, Yixuan
    Yu, Shaoze
    Lin, Ouwen
    Meng, Lu
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2025, 97
  • [40] A Study on the Impact of Board Characteristics on the Environmental, Social, and Governance (ESG) Responsibilities of Listed Companies-Evidence from Chinese Listings
    Ding, Haoming
    Wang, Zerui
    Xu, Hanyu
    Lin, Zi
    SUSTAINABILITY, 2024, 16 (23)