Linking Environmental Regulation and Financial Performance: The Mediating Role of Green Dynamic Capability and Sustainable Innovation

被引：42
|
作者：
Xing, Xinpeng [1 ]
Liu, Tiansen [2 ,3 ]
Shen, Lin [1 ]
Wang, Jianhua [1 ]
机构：
[1] Jiangnan Univ, Sch Business, Wuxi 214122, Jiangsu, Peoples R China
[2] Harbin Engn Univ, Sch Econ & Management, Harbin 150001, Peoples R China
[3] Nanjing Univ, Sch Social & Behav Sci, Nanjing 210023, Peoples R China
来源：
SUSTAINABILITY | 2020年 / 12卷 / 03期
基金：
中国国家自然科学基金;
关键词：
environmental regulation; green dynamic capability; sustainability exploration innovation; sustainability exploitation innovation; financial performance; CORPORATE SOCIAL-RESPONSIBILITY; TOTAL FACTOR PRODUCTIVITY; EMPIRICAL-EVIDENCE; ORGANIZATIONAL PERFORMANCE; HETEROGENEOUS INFLUENCE; COMPETITIVE ADVANTAGE; PORTER HYPOTHESIS; IMPACT; FIRM; DETERMINANTS;
D O I：
10.3390/su12031007
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
This study develops a multiple mediating model for exploring the link between environmental regulation and financial performance through green dynamic capability, sustainability exploration/exploitation innovation, based on the data from 355 Chinese manufacturing firms. Empirical results support a mediating role of green dynamic capability and sustainability exploration/exploitation in the link between environmental regulation and financial performance, respectively. What's more, our findings indicate that environmental regulation can help improve financial performance via two multiple mediating paths, i.e., green dynamic capability and sustainability exploration innovation, as well as green dynamic capability and sustainability exploitation innovation. These key findings will help to understand how important green dynamic capability and sustainable innovation is when Chinese manufacturing firms establish a business-politics tie.
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收藏
页数：22
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