Government subsidies, corporate ESG ratings, and green innovation

被引：0
作者：
Zhang, Jingxuan [1 ]
Wu, Yanghui [2 ]
Lin, Lin [2 ]
机构：
[1] Cent Univ Finance & Econ, China Acad Publ Finance & Publ Policy, Beijing 100098, Peoples R China
[2] Weifang Vocat Coll, Weifang 261041, Shandong, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2025年 / 84卷
关键词：
Government subsidies; ESG ratings; Green innovation;
D O I：
10.1016/j.frl.2025.107793
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using 2010-2023 data from Chinese listed firms, this study analyzes interactions between government subsidies, ESG (Environmental, Social, and Governance) performance, and green innovation. Empirical results confirm subsidies enhance corporate green innovation, while ESG ratings similarly facilitate such ecological R&D efforts. Moreover, in the process of corporate ESG ratings influencing green innovation, government subsidies serve as a significant moderating factor. Additionally, there are notable differences in the impact of government subsidies on green innovation between state-owned enterprises and private enterprises.
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页数：8
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