Does environmental, social, and governance performance move together with corporate green innovation in China?

被引：162
|
作者：
Zheng, Mingbo [1 ]
Feng, Gen-Fu [2 ]
Jiang, Ren-Ai [2 ]
Chang, Chun-Ping [3 ]
机构：
[1] Changan Univ, Sch Econ & Management, Xian, Shaanxi, Peoples R China
[2] Xi An Jiao Tong Univ, Sch Econ & Finance, Xian, Shaanxi, Peoples R China
[3] Shih Chien Univ, Dept Mkt Management, 200 Univ Rd, Kaohsiung 84550, Taiwan
来源：
BUSINESS STRATEGY AND THE ENVIRONMENT | 2023年 / 32卷 / 04期
基金：
中国博士后科学基金;
关键词：
cointegration; ESG; green innovation; FIRM PERFORMANCE; ERROR-CORRECTION; COINTEGRATION TESTS; ESG PERFORMANCE; SUSTAINABILITY; RESPONSIBILITY;
D O I：
10.1002/bse.3211
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This research investigates the bidirectional cointegration relationship between environmental, social, and governance (ESG) performance and corporate green innovation with a panel of 770 Chinese listed firms during the 2011-2020. We find that there exists a long-run bidirectional comovement between ESG performance and corporate green innovation output. ESG performance exerts a short-run and long-run causal link with green innovation output. The panel cointegration test and VECM estimation also support that ESG performance moves together with green innovation output for clean industries, while ESG performance only presents a long-run relationship to green invention patents output for pollution industries. Our findings offer important value for policymakers and enterprises to propose an effective strategy to stimulate green innovation and improve ESG score.
引用
收藏
页码：1670 / 1679
页数：10
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