The impact of stock liquidity on green technology innovation of new energy enterprises: Evidence from China

被引：5
作者：
Liu, Ting [1 ]
Wang, Yuelin [2 ]
Zhou, Weiwei [3 ]
机构：
[1] Wuhan Univ, Econ & Management Sch, Wuhan 430072, Hubei, Peoples R China
[2] Hang Seng Univ Hong Kong, Hong Kong, Peoples R China
[3] Nanyang Technol Univ, Singapore 639798, Singapore
来源：
ENVIRONMENT DEVELOPMENT AND SUSTAINABILITY | 2024年 / 26卷 / 06期
关键词：
Stock liquidity; Green technology innovation; New energy company; Research and development; Financial risk; HETEROGENEOUS FENTON CATALYST; ADVANCED OXIDATION PROCESSES; SANITARY-LANDFILL LEACHATE; SOLAR PHOTO-FENTON; FERRIC SLUDGE; IRON SLUDGE; WATER-TREATMENT; DEGRADATION; OPTIMIZATION; REUSE;
D O I：
10.1007/s10668-023-03218-9
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
Green technology is the solution to address the dichotomy between environmental conservation and economic growth. How to stimulate the expansion of green technology innovation output is an essential agenda highlighted by firms, governments, and environmental non-governmental organizations. This research investigates the impact of stock liquidity on green technology innovation and its mechanism, using the data of listed new energy green firms in China from 2007 to 2019. The empirical findings reveal that the enhancement of stock liquidity considerably supports the green technology innovation of new energy firms. Whereas expanding R&D investment and decreasing financial risk are two economic mechanisms that stock liquidity promotes green technology innovation of new energy firms. In addition, our study demonstrates that both government subsidies and analyst attention may strengthen the impact of stock liquidity in supporting the green innovation output of new energy enterprises. The conclusion of this article might give reference to green economic development and structural transformation of emerging economies.
引用
收藏
页码：14787 / 14810
页数：24
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