Does political inspection promote corporate green innovation?

被引：7
|
作者：
Zhang, Huiming [1 ,2 ]
Wan, Dayu [3 ]
Sun, Chuanwang [4 ,5 ]
Wu, Kai [6 ]
Lin, Caixia [7 ]
机构：
[1] Nanjing Univ Informat Sci & Technol, Sch Business, Nanjing 210044, Peoples R China
[2] Nanjing Univ Informat Sci & Technol, Res Inst Climat & Environm Governance, Nanjing 210044, Peoples R China
[3] Nanjing Univ Informat Sci & Technol, Sch Management Sci & Engn, Nanjing 210044, Peoples R China
[4] Xiamen Univ, China Ctr Energy Econ Res, Sch Econ, Xiamen 361005, Peoples R China
[5] Xiamen Univ, Sch Econ, MOE Key Lab Econometr, Xiamen 361005, Fujian, Peoples R China
[6] Cent Univ Finance & Econ, Sch Finance, Beijing 100081, Peoples R China
[7] Xinjiang Agr Univ, Sch Econ & Management, Urumqi 830052, Peoples R China
来源：
ENERGY ECONOMICS | 2023年 / 123卷
基金：
美国国家科学基金会; 中国国家自然科学基金;
关键词：
Political inspection; Corporate green innovation; Financing constraint; Staggered DID; Principal -agent cost; RESEARCH-AND-DEVELOPMENT; ANTI-CORRUPTION; ENVIRONMENTAL-REGULATION; MANAGERIAL INCENTIVES; NATURAL EXPERIMENT; GOVERNMENT; CHINA; FIRMS; REGULATIONS; OWNERSHIP;
D O I：
10.1016/j.eneco.2023.106730
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Green innovation is an effective approach to breaking resource availability and environment protection constraints that firms face. China has set up a political inspection team to fight against corruption and deepen stateowned firm reform in recent years. From 2013 to 2015, inspections, as exogenous events, made great achievements in regulating firm behavior. This regulation may exert an effect on green and innovative development in China. Therefore, we adopt the event of political inspection of state-owned firms as a quasi-natural experiment and examine the impact of such an inspection on firm green innovation using data from listed Chinese stateowned enterprises. Findings show that political inspection enhances corporate green innovation. The effect is more pronounced for firms with higher executive compensation and institutional ownership. Political inspection promotes firm green innovation by alleviating financing constraints and reducing rent-seeking. Our study suggests that political inspection, as an external shock, is key to promoting firm green innovation.
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收藏
页数：11
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