Environmental regulation, academic top managers and green innovation: Evidence from China

被引：7
作者：
Zhang, Xiangguo [1 ]
Zhao, Weiyi [2 ,3 ]
Xie, Danxia [1 ]
机构：
[1] Tsinghua Univ, Inst Econ, Beijing, Peoples R China
[2] Zhongnan Univ Econ & Law, Sch Finance, Wuhan, Peoples R China
[3] Zhongnan Univ Econ & Law, Innovat & Talent Base Digital Technol & Finance, Wuhan, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 69卷
基金：
中国国家自然科学基金;
关键词：
Academic top managers; Corporate finance; Green innovation; Environmental regulation; COMPETITIVENESS; IMPACT; INVESTMENT; FIRM;
D O I：
10.1016/j.frl.2024.106129
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines the impact of top managers' academic backgrounds on green innovation within the context of China's new Environmental Protection Law. Utilizing green patent data from listed companies in the China A-Share market from 2008 to 2019, and employing the DID approach, we find the law significantly boosts green innovation in firms led by academically skilled managers. However, this effect diminishes in state-owned enterprises and financially constrained firms. Our findings emphasize the critical roles of managerial academic backgrounds and autonomy in advancing green innovation.
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页数：16
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