One novel mixed ownership reform and green innovation in private firms: Evidence from China

被引:16
作者
Xu, Jingchang [1 ]
Zhang, Huixuan [1 ]
Wu, Wuqing [1 ]
机构
[1] Renmin Univ China, Sch Business, Dept Accounting, Beijing, Peoples R China
基金
中国国家自然科学基金;
关键词
Mixed ownership; Green innovation; Corporate governance; Reverse mixed-ownership reform; ECO-INNOVATION; PERFORMANCE; STATE; CONSTRAINTS; CONNECTIONS; MANAGEMENT; TRANSITION;
D O I
10.1016/j.ememar.2023.101076
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
A growing body of literature provides evidence that mixed-ownership reform in China greatly affects firm behavior. This study focuses on a novel mixed ownership reform of China's private firms, which we define as "reverse mixed-ownership reform". We find that firms' green innovation level improves after the reform. Environmental awareness and substantive resources are identified as two underlying mechanisms. These effects are stronger when a firm is in an area with a lower level of market openness and when managerial shareholding is lower. We also find evidence that firms make a trade-off between green innovation and financial performance after the reform.
引用
收藏
页数:21
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