With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between c...With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between climate policy and green innovation in the corporate financialization context.Using Chinese-listed company data from 2008 to 2020,our analysis reveals a favorable correlation between China’s carbon emission trading policy(CCTP)and advancements in green innovation.Furthermore,we find that the level of corporate financialization moderates this correlation,diminishing the driving effect of CCTP on green innovation.Additionally,results of heterogeneity analysis show that this moderating consequence is more evident in non-state owned and low-digitization enterprises compared with state-owned and high-digitization ones.Our findings contribute to the existing literature by clarifying the interaction between CCTP,green innovation,and corporate financialization.Our research provides valuable insights for policymakers and stakeholders seeking to strengthen climate policies and encourages green innovation in different types of businesses.展开更多
Green technological innovation is crucial for the manufacturing industry’s green transformation and sustainable development.This study examines the impact of executive overconfidence on corporate green innovation,foc...Green technological innovation is crucial for the manufacturing industry’s green transformation and sustainable development.This study examines the impact of executive overconfidence on corporate green innovation,focusing on the internal drivers of corporate innovation and using a sample of Shanghai and Shenzhen A-share listed manufacturing companies from 2013 to 2020.We further examine the mediating role of digital transformation and the moderating role of external attention.The findings indicate that executive overconfidence promotes corporate green technological innovation.Overconfident executives enhance green innovation by accelerating digital transformation.Moreover,external attention from analysts and media positively moderates the relationship between executive overconfidence and corporate green innovation.Heterogeneity analysis reveals that the positive impact of executive overconfidence on green innovation is more significant in non-state-owned enterprises,high-tech firms,and enterprises with lower pollution levels.展开更多
The green innovation value chain is a key step in transforming green,innovative scientific,and technological achievements into productive forces.The establishment of green innovation value chains based on value distri...The green innovation value chain is a key step in transforming green,innovative scientific,and technological achievements into productive forces.The establishment of green innovation value chains based on value distribution rather than technical conditions can effectively overcome the common bottleneck faced by different nations during their green innovation endeavors,namely,the substitution of conventional products with green alternatives.This study investigates the impeded diffusion of green products and their underlying causes,analyzes the internal structure and mechanism of the green innovation value chain,and explores the establishment of regional green innovation value chains and the models available for value chain upgrading.展开更多
With the increasingly severe global climate change problem,the“dual carbon”goals(peak carbon emissions and carbon neutrality)have become a common focus of international attention.The report of the 20th National Cong...With the increasingly severe global climate change problem,the“dual carbon”goals(peak carbon emissions and carbon neutrality)have become a common focus of international attention.The report of the 20th National Congress of the Communist Party of China clearly emphasizes the need to accelerate the green transformation of development models,implement comprehensive strategies for frugal development,support the growth of green and low-carbon industries,and promote the concept of green consumption.At the same time,“Made in China 2025”also elaborates on the strategic concept of innovation-driven and green development centered,and strives for breakthroughs in key industries such as new energy vehicles.In such a macro environment,adopting green innovation measures by enterprises not only contributes to ecological protection but also has an undeniable impact on their economic performance and overall value.This article takes BYD Group as a case study to explore in detail the positive effects of green innovation on its economic performance.We first systematically organized and analyzed BYD’s specific practices in green innovation;Then,by examining three key financial indicators,BYD’s current financial situation was analyzed in depth;On this basis,combined with research data,the positive impact of green innovation on BYD’s financial performance was revealed;Finally,based on the analysis results,relevant suggestions are proposed to provide reference for the sustainable development of enterprises in the context of“dual carbon.”展开更多
Numerous studies deal with spatial analysis of green innovation(GI).However,researchers have paid limited attention to analyzing the multi-scale evolution patterns and predicting trends of GI in China.This paper seeks...Numerous studies deal with spatial analysis of green innovation(GI).However,researchers have paid limited attention to analyzing the multi-scale evolution patterns and predicting trends of GI in China.This paper seeks to address this research gap by examining the multi-scale distribution and evolutionary characteristics of GI activities based on the data from 337 cities in China during 2000-2019.We used scale variance and the two-stage nested Theil decomposition method to examine the spatial distribution and inequalities of GI in China at multiple scales,including regional,provincial,and prefectural.Additionally,we utilized the Markov chain and spatial Markov chain to explore the dynamic evolution of GI in China and predict its long-term development.The findings indicate that GI in China has a multi-scale effect and is highly sensitive to changes in spatial scale,with significant spatial differences of GI decreasing in each scale.Furthermore,the spatiotemporal evolution of GI is influenced by both geospatial patterns and spatial scales,exhibiting the“club convergence”effect and a tendency to transfer to higher levels of proximity.This effect is more pronounced on a larger scale,but it is increasingly challenging to transfer to higher levels.The study also indicates a steady and sustained growth of GI in China,which concentrates on higher levels over time.These results contribute to a more precise understanding of the scale at which GI develops and provide a scientific basis and policy suggestions for optimizing the spatial structure of GI and promoting its development in China.展开更多
Urban green innovation(UGI)is essential to environmental protection,ecological conservation,and high quality economic growth.Using green patents,our study assessed the level of UGI of 287 Chinese cities at and above t...Urban green innovation(UGI)is essential to environmental protection,ecological conservation,and high quality economic growth.Using green patents,our study assessed the level of UGI of 287 Chinese cities at and above the prefecture level.Then,using the Dagum Gini coefficient,kernel density estimation(KDE),and con‐vergence models,we examined regional differences,distribution dynamics,and convergence of UGI across China.The study’s findings are as follows:(1)Overall,regional differences in UGI tended to narrow,and the main contributor to these differences was the difference between economic zones.(2)KDE showed that the level of UGI was rising,which was polarized within each economic zone.(3)The national UGI in economic zones other than the Northeast and Middle Yellow River Economic Zones featured significantσconvergence,while each economic zone showed absolute and conditionalβconvergence.展开更多
Can green fiscal policy(GFP)incentivize the proliferation of urban green innovation(GI)and be a novel cata‐lyst for energy conservation and emission reduction within the“dual-carbon”framework?This paper explores GF...Can green fiscal policy(GFP)incentivize the proliferation of urban green innovation(GI)and be a novel cata‐lyst for energy conservation and emission reduction within the“dual-carbon”framework?This paper explores GFP ramifications for GI by implementing a difference-in-differences model in a natural experiment centered on the“Comprehensive Demonstration City of Energy Saving and Emission Reduction Fiscal Policies”.The em‐pirical analysis reveals several key findings:(1)GFP exhibits significant augmentation at the GI level,with an observable evolutionary trend of increasing marginal impact.Importantly,these outcomes withstand rigorous robustness tests,including propensity score matching.(2)A mechanism analysis elucidates the dual impact of GFP on GI growth.GFP directly fosters GI advancement indirectly by promoting talent aggregation,expanding scientific and technological investment,and attracting external financial resources.(3)A heterogeneity analy‐sis demonstrates that GFP enhancement of GI is closely associated with the patent category,manifesting a dis‐tinct pattern of“eastern region>other regions”and“non-resource cities>resource cities”.The study’s em‐pirical findings offer crucial real-world insights to guide the Chinese government in formulating a more effi‐cient GFP and facilitating the expansion of innovative endeavors while contributing to environmentally sus‐tainable and high-value development.展开更多
Based on provincial panel data in China from 2008 to 2019, this research takes the issuance of China's green bond as a quasi-natural experiment to explore whether China's regional green finance development pro...Based on provincial panel data in China from 2008 to 2019, this research takes the issuance of China's green bond as a quasi-natural experiment to explore whether China's regional green finance development promotes local green innovation by using the multi-period DID model. The results show that the regional green financial development can promote local green innovation, and the rapid growth of the green bond market driven by policy does improve environmental sound technology innovation. The promotion of regional green finance development to local green innovation is related to the funds allocation of green credit,but not to the issuance scale of green bonds, according to further analysis, because China's development pattern can lead to a lack of endogenous market power and low credit resource allocation efficiency. In addition, the issuance of green bonds can effectively promote the allocation of green credit funds, thus enhancing the local green innovation level, but it can't reduce local carbon emissions through promoting green innovation. Therefore, the government should strengthen the green finance implementation assessment mechanism, taking into account the heterogeneity of regions and enterprises, complete the green finance monitoring and disclosure system, and increase the rate of green technology conversion.展开更多
The ESG score system is a fundamental component of the green financial system that is essential in promoting corporate environmental progress.In this work we investigate the micro-environmental impact of ESG scores us...The ESG score system is a fundamental component of the green financial system that is essential in promoting corporate environmental progress.In this work we investigate the micro-environmental impact of ESG scores using panel fixed effects models.We examine the processes underlying the influence of ESG scores on the performance of corporate green innovation as well as any potential inequalities in this impact under different moderating factors.To conduct our analysis we use data from Chinese-listed A-shares on the Shanghai and Shenzhen stock exchanges from 2010 to 2019.Our study demonstrates a relationship between corporate green innovation and ESG ratings indicating that higher ESG ratings assist businesses in achieving better green innovation results.This beneficial effect is evident both numerically and qualitatively and it continues to hold up even after being put through several demanding tests.Additionally we pinpoint two main ways that ESG encourages corporate green innovation by boosting government-enterprise ties and strengthening corporate investment efficiency.We also note that while business characteristics aligned with sustainability further enhance the favorable influence of ESG on green innovation performance characteristics linked to ecologically detrimental activities impede the contribution of ESG to green innovation.Our study adds to the body of knowledge already available on corporate environmental performance and green finance by offering empirical insights that can help enhance corporate environmental development and improve the ESG rating system.展开更多
This study aims to examine the green innovation effect of the carbon emissions pilot policy in China.First,using the difference-in-differences method and regressions of instrumental variables using the data from Chine...This study aims to examine the green innovation effect of the carbon emissions pilot policy in China.First,using the difference-in-differences method and regressions of instrumental variables using the data from Chinese listed firms,we verify that the policy promotes green innovation among regulated firms and is more pronounced among state-owned enterprises,firms in the eastern region,and those with lower financing constraints.Furthermore,this positive effect spreads downstream relative to the regulated firms through input–output linkages,but reduces green innovation to upstream firms.Accordingly,such diffusion of innovation is achieved through the price mechanism.The results necessitate the introduction of various derivatives to mobilize the market to reduce the speculative volatility of carbon prices.In addition,relevant supporting policies must be established to encourage corporate innovation to reduce the crowding-out effect owing to emission reduction and the nonmarket factors.展开更多
To achieve sustainable development,it is vitally important to identify the factors driving urban green innovation and evaluate the contributions of different factors.This study uses a Chinese patent full-text database...To achieve sustainable development,it is vitally important to identify the factors driving urban green innovation and evaluate the contributions of different factors.This study uses a Chinese patent full-text database from 2005 to 2016 to identify the number of green patents at the prefecture level and analyzes the main determinants that lead to differences in green innovation level in different regions and types,and their respective contributions by regression and decomposition.This study finds that first,China's green innovation level is characterized by unbalanced development among different regions-the coastal areas develop rapidly while the inland areas develop comparatively slowly.Green innovation output is polarized among different cities,and the trend is more severe in inland areas.Second,economic development acts as the leading factor influencing the overall green innovation output of China both in inland and coastal areas,factor input follows as the second influencing factor,while government behavior has a comparatively small impact on green innovation.Third,regarding green patents of different types in different regions,economic development still serves as the major factor of unbalanced output of all kinds of patents,and government behavior has a relatively obvious regional characteristic,whose impact on inland areas is more evident.展开更多
Taking Shandong province,one of China’s first batch of circular economy pilot provinces,as an example,this paper summarizes some types of regional green innovation system models through the cases study and retrospect...Taking Shandong province,one of China’s first batch of circular economy pilot provinces,as an example,this paper summarizes some types of regional green innovation system models through the cases study and retrospective reasoning and retrospective approaches.The models mentioned above include(1)the innovation system model of green animal husbandry in coastal small towns,(2)the green innovation system model in intravenous industry park,(3)the green innovation system model in coastal hi-tech industrial development zone based on the development of eco-industrial and low-carbon industries,(4)the green innovation system model in coastal economic&technological development area based on the development of ecological arterial industry and the ecological intravenous industry through the waste recycle inside and outside the area,(5)the green innovation system model of coastal harbor economic and technological development area based on constructing tiny-medium-macro circulation,(6)the green innovation system of reformed coastal economic and technological development zone turning to the recycling marine industry innovation,and(7)the green innovation system model of high-tech industry development zone tending to recycling innovation of biological industry.This paper aims to analyze the characteristics of these models,the formation mechanism,and further to discuss their implications for greening the same type of regional innovation systems.展开更多
As the extraction and usage of natural resources continue to be a double-edged sword-supporting economic growth but deteriorating the environment-we study the impact of natural resource mining on sustainable economic ...As the extraction and usage of natural resources continue to be a double-edged sword-supporting economic growth but deteriorating the environment-we study the impact of natural resource mining on sustainable economic development in the largest(PPP)economy-China.We use province-level data from 2001 to 2020 and employ econometric panel techniques,such as fixed effects,two-stage least squares,and a battery of robustness tests.We further explore the potential effects of education and green innovation in mitigating/exacerbating the role of natural resources in the Chinese provincial economy.The results show that:(1)Natural resource mining hurts sustainable development,verifying the“resource curse”effect.(2)Green innovation and education restrain the negative impact of resource mining on sustainable development,turning the curse into a blessing.(3)A regional heterogeneity is observed in the impact of resource mining on sustainable development,showing more significant effects in the Western and low-urbanized regions.(4)Green innovation and education can assuage the curse effect of natural resources into gospel effect.Policy implications and recommendations are proposed in light of the findings to promote sustainable economic development in China.展开更多
There is growing attention from governments and regulators towards crucial matters such as climate change and global warming,resulting in a pressing need to investigate the factors that make it possible for businesses...There is growing attention from governments and regulators towards crucial matters such as climate change and global warming,resulting in a pressing need to investigate the factors that make it possible for businesses to engage in green finance(GF).The externality of environmental pollution prioritizes the need of green innovation(GI)in public management.GF distributes financial resources to the research and development(R&D)of clean energy and environmentally friendly goods and processes;it is complementary to the GI process for environmental protection.GF policies help to alleviate the impacts of financial constraints and GI impaired industries involving new products,processes,services and the global market.To better understand how GF and GI have functioned as a catalyst for circular economy practices,this paper seeks to present a historical and contemporary overview of these concepts.The research is thoroughly dissected by a systematic literature evaluation of articles from 2016 to 2023 that appear in peer-reviewed journals and are indexed in the SCOPUS database.To attain supply chain circularity,this article encompasses four major research themes concerning the adoption of GF and green technologies.The research also includes a network analysis of shortlisted articles to examine the overall citation trends.It is shown that several institutional theories are associated with the investigated area.As a final step,a framework is provided to illustrate how GF and GIs might be used to achieve supply chain circularity.The research findings provide a novel concept related to GF within the context of GI which are significant for environmentalists,policymakers,green investors,and researchers.Through its findings,the study provides a conceptual framework that promotes sustainable strategies to effectively balance financial considerations and environmental innovation.It helps to leverage the potential of green research and practice to create value for businesses and to benefit society at large.The analysis provides an unexplored and significant contribution to current literature in terms of delivering evidence of the past and present approaches to GF and GI in a circular economy.The results of this study will attract the attention of policymakers and stakeholders to develop and combine the two concepts in research and practice to attain environmental balance in the circular economy and to promote long term sustainability.展开更多
A reconciliation of the disagreement on whether financial globalization(FG)affects ecological footprint through the scale,technique and composition effects cannot be achieved without an explicit understanding of the d...A reconciliation of the disagreement on whether financial globalization(FG)affects ecological footprint through the scale,technique and composition effects cannot be achieved without an explicit understanding of the direct and indirect interactions of FG with environmental sustainability.Hence,the novel perspective of this study lies in the investigation of how green innovations moderate the non-linear tendencies in the FG-environmental sustainability link among western African states given the abundance of natural resources and the prevailing pace of economic growth.The core findings are obtained from robust analysis based on cross-sectional autoregressive distributed lag(CS-ARDL)technique,the augmented mean group(AMG)technique,and the common correlated effects mean group(CCEMG)advanced estimators.Firstly,the beneficial ecological impacts of green innovations were observed.As per direct impact,enhanced financial globalization(FG)exhibits non-linear detrimental ecological effects.However,green innovations cushion the observed adverse ecological effects of FG.Furthermore,resource rents reduce ecological footprint within the moderating framework of green innovation as the environmental Kuznets curve(EKC)is validated among the states.Additionally,a bidirectional causal link between financial globalization,green innovations,economic growth,natural resources,and ecological footprint was observed.Thus,the significant policy implication is for the West African states to decisively increase their investments in green innovations while strategically encouraging the share of ecologically friendly resources in total resource utilization to guarantee a more sustainable environment.展开更多
Environment-related notifications play an important role in the coordinated development of trade and environment protection.In this paper,we examine how Chinese exporting enterprises responded to environment-related n...Environment-related notifications play an important role in the coordinated development of trade and environment protection.In this paper,we examine how Chinese exporting enterprises responded to environment-related notifications implemented by the US through green innovation practices.These notifications significantly encouraged exporting firms to increase green innovation,as evidenced particularly by the number of green utility model patents granted.This effect was most pronounced in non-foreign-invested enterprises,high-total-factor-productivity firms,technology-intensive industries,and nongreen industries.These notifications also increased the probability of enterprises exiting the market while reducing the probability of new enterprises entering it.The innovation motivation of surviving firms was higher than that of the new entrants.Our analysis also suggests that environment-related notifications had a crowding-out effect on other innovation rather than a leverage effect.This study offers important empirical evidence that helps enterprises to respond to green non-tariff measures effectively,enrich the existing literature,and provide practical guidance for both policymaking and corporate development.展开更多
This study investigates whether and how customer firms’environmental,social and governance(ESG)performance impacts suppliers’green innovation quality using a sample of Chinese A-share listed companies from 2009 to 2...This study investigates whether and how customer firms’environmental,social and governance(ESG)performance impacts suppliers’green innovation quality using a sample of Chinese A-share listed companies from 2009 to 2022.We find that customers’ESG performance facilitates suppliers’green innovation quality through green learning and corporate competition.Additional tests indicate that customers with stickier customer-supplier relationships and a more central position in the supply chain network than peers enhance suppliers’green innovation quality.After categorizing whether customers engage in greenwashing,we determine that those adherence to green principles,genuinely promote suppliers’green innovation quality.Finally,we find the above effect ultimately enhances suppliers’environmental performance.This study provides valuable insights for supply chain companies into collaboratively achieving sustainable development.展开更多
Corporate digital transformation and green transformation are the key paths to realizing China's high-quality development,and exploring how corporate digital transformation affects green innovation models holds bo...Corporate digital transformation and green transformation are the key paths to realizing China's high-quality development,and exploring how corporate digital transformation affects green innovation models holds both significant theoretical value and pragmatic enlightenment.By taking the A-share listed companies in China from 2002 to 2021 as research samples,this paper distinguishes between energy conservation and environmental protection green innovation models based on the IPC Green Inventory and the content of green innovation.This paper empirically examines the influence of corporate digital transformation on the green innovation model selection and its mechanism.The study finds that corporate digital transformation strongly motivates enterprises to select green innovation model,a role that stems from the utilization of digital underlying technologies.The research and development investment of digital greenization plays a mediating role in this process.Market competition,informal environmental regulations and government innovation subsidies can moderate enterprises'strategies for selecting green innovation models.Further heterogeneity analysis reveals that digital transformation drives corporate selection of energy-saving green innovation to a greater extent in industries that have a greater need for green transformation,such as the manufacturing industry.The results of this paper identify the effect of corporate digital transformation on green innovation model selection at the theoretical level and provide important insights into the coordinated development of Chinese corporate digitalization and greenization at the practical level.展开更多
The digital transformation that induces the disruption of traditional production models is as crucial as the green development emphasized during the construction of an ecological civilization.However,there is ongoing ...The digital transformation that induces the disruption of traditional production models is as crucial as the green development emphasized during the construction of an ecological civilization.However,there is ongoing debate about whether,and under what contextual conditions,digital transformation promotes corporate green innovation.Using data from A-share listed enterprises on the Shanghai and Shenzhen stock exchanges from 2012 to 2019,this study employs a fixed effect model to analyze the effect of digital transformation on green innovation and its specific mechanisms.There are four findings.(1)Digital transformation significantly improves green innovation in enterprises.This conclusion is supported by quantile analysis and endogenous treatment based on a multi-period difference-in-differences model.(2)Digital transformation stimulates green innovation by enhancing absorptive capacity and internal control.(3)Industry heterogeneity analysis indicates that,compared with non-state-owned enterprises,digital transformation has a greater positive effect on green innovation in state-owned enterprises.The positive effect of digital transformation on green innovation is significant in technology-intensive enterprises but not in non-technology-intensive enterprises.(4)External context tests show that in regions with stringent environmental regulations,digital transformation significantly promotes green innovation,whereas in regions with weak environmental regulations,its effect is not significant.Furthermore,the positive correlation between digital transformation and green innovation remains largely unchanged as the level of green finance increases.展开更多
Green technology innovation is an important driving force and source to promote my country’s high-quality development,and it is the core path to achieve sustainable development.This paper uses my country’s provincia...Green technology innovation is an important driving force and source to promote my country’s high-quality development,and it is the core path to achieve sustainable development.This paper uses my country’s provincial panel data from 2016 to 2019 to study the impact mechanism of R&D investment on green technology innovation,and introduces the level of digitization,using the panel threshold model to discuss its role in the impact mechanism of R&D investment on green technology innovation.The study found that when the level of digitalization in a region is low,increasing R&D investment does not necessarily improve the ability of green technology innovation;when the level of digitalization is relatively high,R&D investment has a positive role in promoting green technology innovation.Therefore,it is necessary to improve policies to encourage enterprises to increase investment in research and development;at the same time,it is necessary to promote the coordinated development of digital foundation,digital investment,digital literacy,digital economy and digital application,and promote the deep integration of digitalization and green technology innovation.展开更多
基金support was obtained from the Fundamental Research Funds for the Central Universities[Grant No.JBK2307090].
文摘With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between climate policy and green innovation in the corporate financialization context.Using Chinese-listed company data from 2008 to 2020,our analysis reveals a favorable correlation between China’s carbon emission trading policy(CCTP)and advancements in green innovation.Furthermore,we find that the level of corporate financialization moderates this correlation,diminishing the driving effect of CCTP on green innovation.Additionally,results of heterogeneity analysis show that this moderating consequence is more evident in non-state owned and low-digitization enterprises compared with state-owned and high-digitization ones.Our findings contribute to the existing literature by clarifying the interaction between CCTP,green innovation,and corporate financialization.Our research provides valuable insights for policymakers and stakeholders seeking to strengthen climate policies and encourages green innovation in different types of businesses.
基金This paper was funded by the Science and Technology Research Project of Chongqing Municipal Education Commission entitled“Research on Pricing of ETFs and Their Derivatives Driven by Multi-source Heterogeneous Data”(No.KJQN202300567).
文摘Green technological innovation is crucial for the manufacturing industry’s green transformation and sustainable development.This study examines the impact of executive overconfidence on corporate green innovation,focusing on the internal drivers of corporate innovation and using a sample of Shanghai and Shenzhen A-share listed manufacturing companies from 2013 to 2020.We further examine the mediating role of digital transformation and the moderating role of external attention.The findings indicate that executive overconfidence promotes corporate green technological innovation.Overconfident executives enhance green innovation by accelerating digital transformation.Moreover,external attention from analysts and media positively moderates the relationship between executive overconfidence and corporate green innovation.Heterogeneity analysis reveals that the positive impact of executive overconfidence on green innovation is more significant in non-state-owned enterprises,high-tech firms,and enterprises with lower pollution levels.
基金the part of the“Research on Paths to High-quality Development in Agriculture Against the Backdrop of Rural Revitalization,”a project of the Publicity Department of the CPC Central Committee for Young Talents in Publicity,Socialist Thought and Cultural Promotionthe National Social Science Fund of China-supported project,“Research on Theoretical Logic and Realization Path of Urban-Rural Integration Based on Industrial Internet”(21XJL001)+1 种基金the major project of Sichuan province in philosophy and social science planning,“Research on the Innovation and Policy Adaptation of Sichuan’s Agricultural Green Development System under the‘Dual Carbon’Goal”(SC22ZDYC44)the key project of Sichuan province in soft science research and planning,“Research on the Path to Peak Carbon and Carbon Neutrality of the Agricultural Sector in Rural Areas of Sichuan Province”(2022JDR0157).
文摘The green innovation value chain is a key step in transforming green,innovative scientific,and technological achievements into productive forces.The establishment of green innovation value chains based on value distribution rather than technical conditions can effectively overcome the common bottleneck faced by different nations during their green innovation endeavors,namely,the substitution of conventional products with green alternatives.This study investigates the impeded diffusion of green products and their underlying causes,analyzes the internal structure and mechanism of the green innovation value chain,and explores the establishment of regional green innovation value chains and the models available for value chain upgrading.
基金Interim Achievements of the 2023 Internationalization Special Projects 2023ZX13 and 2023ZX14 of Zhejiang Financial College。
文摘With the increasingly severe global climate change problem,the“dual carbon”goals(peak carbon emissions and carbon neutrality)have become a common focus of international attention.The report of the 20th National Congress of the Communist Party of China clearly emphasizes the need to accelerate the green transformation of development models,implement comprehensive strategies for frugal development,support the growth of green and low-carbon industries,and promote the concept of green consumption.At the same time,“Made in China 2025”also elaborates on the strategic concept of innovation-driven and green development centered,and strives for breakthroughs in key industries such as new energy vehicles.In such a macro environment,adopting green innovation measures by enterprises not only contributes to ecological protection but also has an undeniable impact on their economic performance and overall value.This article takes BYD Group as a case study to explore in detail the positive effects of green innovation on its economic performance.We first systematically organized and analyzed BYD’s specific practices in green innovation;Then,by examining three key financial indicators,BYD’s current financial situation was analyzed in depth;On this basis,combined with research data,the positive impact of green innovation on BYD’s financial performance was revealed;Finally,based on the analysis results,relevant suggestions are proposed to provide reference for the sustainable development of enterprises in the context of“dual carbon.”
基金supported by the National Natural Science Foundation of China(Grant No.41971201).
文摘Numerous studies deal with spatial analysis of green innovation(GI).However,researchers have paid limited attention to analyzing the multi-scale evolution patterns and predicting trends of GI in China.This paper seeks to address this research gap by examining the multi-scale distribution and evolutionary characteristics of GI activities based on the data from 337 cities in China during 2000-2019.We used scale variance and the two-stage nested Theil decomposition method to examine the spatial distribution and inequalities of GI in China at multiple scales,including regional,provincial,and prefectural.Additionally,we utilized the Markov chain and spatial Markov chain to explore the dynamic evolution of GI in China and predict its long-term development.The findings indicate that GI in China has a multi-scale effect and is highly sensitive to changes in spatial scale,with significant spatial differences of GI decreasing in each scale.Furthermore,the spatiotemporal evolution of GI is influenced by both geospatial patterns and spatial scales,exhibiting the“club convergence”effect and a tendency to transfer to higher levels of proximity.This effect is more pronounced on a larger scale,but it is increasingly challenging to transfer to higher levels.The study also indicates a steady and sustained growth of GI in China,which concentrates on higher levels over time.These results contribute to a more precise understanding of the scale at which GI develops and provide a scientific basis and policy suggestions for optimizing the spatial structure of GI and promoting its development in China.
基金supported by the National Natural Science Foun‐dation of China[Grant No.72004124,72373084]Shandong Provin‐cial Education Department,China[Grant No.2022RW-064]+1 种基金Depart‐ment of Science and Technology of Shandong Province,China[Grant No.2022RKY04002]Humanities and Social Sciences Project of Shan‐dong Province,China[Grant No.2022-YYJJ-32].
文摘Urban green innovation(UGI)is essential to environmental protection,ecological conservation,and high quality economic growth.Using green patents,our study assessed the level of UGI of 287 Chinese cities at and above the prefecture level.Then,using the Dagum Gini coefficient,kernel density estimation(KDE),and con‐vergence models,we examined regional differences,distribution dynamics,and convergence of UGI across China.The study’s findings are as follows:(1)Overall,regional differences in UGI tended to narrow,and the main contributor to these differences was the difference between economic zones.(2)KDE showed that the level of UGI was rising,which was polarized within each economic zone.(3)The national UGI in economic zones other than the Northeast and Middle Yellow River Economic Zones featured significantσconvergence,while each economic zone showed absolute and conditionalβconvergence.
基金supported by the National Natural Science Foun‐dation of China[Grant No.72163018]the Yunnan Philosophy and So‐cial Science Planning Project[Grant No.ZD202206]+1 种基金the Yunnan Col‐lege Students’Innovation and Entrepreneurship Training Program[Grant No.S202310674173]Zhejiang college students’science and technology innovation activity plan and new talent plan[Grant No.2022R408A001].
文摘Can green fiscal policy(GFP)incentivize the proliferation of urban green innovation(GI)and be a novel cata‐lyst for energy conservation and emission reduction within the“dual-carbon”framework?This paper explores GFP ramifications for GI by implementing a difference-in-differences model in a natural experiment centered on the“Comprehensive Demonstration City of Energy Saving and Emission Reduction Fiscal Policies”.The em‐pirical analysis reveals several key findings:(1)GFP exhibits significant augmentation at the GI level,with an observable evolutionary trend of increasing marginal impact.Importantly,these outcomes withstand rigorous robustness tests,including propensity score matching.(2)A mechanism analysis elucidates the dual impact of GFP on GI growth.GFP directly fosters GI advancement indirectly by promoting talent aggregation,expanding scientific and technological investment,and attracting external financial resources.(3)A heterogeneity analy‐sis demonstrates that GFP enhancement of GI is closely associated with the patent category,manifesting a dis‐tinct pattern of“eastern region>other regions”and“non-resource cities>resource cities”.The study’s em‐pirical findings offer crucial real-world insights to guide the Chinese government in formulating a more effi‐cient GFP and facilitating the expansion of innovative endeavors while contributing to environmentally sus‐tainable and high-value development.
基金supported by Hebei Province Philosophy and Social Science Project (Grant No.HB22YJ021)Hebei Province Social Science Development Research Project (Grant No.20220202156)。
文摘Based on provincial panel data in China from 2008 to 2019, this research takes the issuance of China's green bond as a quasi-natural experiment to explore whether China's regional green finance development promotes local green innovation by using the multi-period DID model. The results show that the regional green financial development can promote local green innovation, and the rapid growth of the green bond market driven by policy does improve environmental sound technology innovation. The promotion of regional green finance development to local green innovation is related to the funds allocation of green credit,but not to the issuance scale of green bonds, according to further analysis, because China's development pattern can lead to a lack of endogenous market power and low credit resource allocation efficiency. In addition, the issuance of green bonds can effectively promote the allocation of green credit funds, thus enhancing the local green innovation level, but it can't reduce local carbon emissions through promoting green innovation. Therefore, the government should strengthen the green finance implementation assessment mechanism, taking into account the heterogeneity of regions and enterprises, complete the green finance monitoring and disclosure system, and increase the rate of green technology conversion.
文摘The ESG score system is a fundamental component of the green financial system that is essential in promoting corporate environmental progress.In this work we investigate the micro-environmental impact of ESG scores using panel fixed effects models.We examine the processes underlying the influence of ESG scores on the performance of corporate green innovation as well as any potential inequalities in this impact under different moderating factors.To conduct our analysis we use data from Chinese-listed A-shares on the Shanghai and Shenzhen stock exchanges from 2010 to 2019.Our study demonstrates a relationship between corporate green innovation and ESG ratings indicating that higher ESG ratings assist businesses in achieving better green innovation results.This beneficial effect is evident both numerically and qualitatively and it continues to hold up even after being put through several demanding tests.Additionally we pinpoint two main ways that ESG encourages corporate green innovation by boosting government-enterprise ties and strengthening corporate investment efficiency.We also note that while business characteristics aligned with sustainability further enhance the favorable influence of ESG on green innovation performance characteristics linked to ecologically detrimental activities impede the contribution of ESG to green innovation.Our study adds to the body of knowledge already available on corporate environmental performance and green finance by offering empirical insights that can help enhance corporate environmental development and improve the ESG rating system.
基金supported by the Plateau Discipline Fund of Shanghai Business School(Grant No.SWJJ-GYZX-2021-03)Shanghai Philosophy and Social Science Planning Project(Grant No.2020BGL007)National Natural Science Foundation of China(Grant No.72163023)。
文摘This study aims to examine the green innovation effect of the carbon emissions pilot policy in China.First,using the difference-in-differences method and regressions of instrumental variables using the data from Chinese listed firms,we verify that the policy promotes green innovation among regulated firms and is more pronounced among state-owned enterprises,firms in the eastern region,and those with lower financing constraints.Furthermore,this positive effect spreads downstream relative to the regulated firms through input–output linkages,but reduces green innovation to upstream firms.Accordingly,such diffusion of innovation is achieved through the price mechanism.The results necessitate the introduction of various derivatives to mobilize the market to reduce the speculative volatility of carbon prices.In addition,relevant supporting policies must be established to encourage corporate innovation to reduce the crowding-out effect owing to emission reduction and the nonmarket factors.
文摘To achieve sustainable development,it is vitally important to identify the factors driving urban green innovation and evaluate the contributions of different factors.This study uses a Chinese patent full-text database from 2005 to 2016 to identify the number of green patents at the prefecture level and analyzes the main determinants that lead to differences in green innovation level in different regions and types,and their respective contributions by regression and decomposition.This study finds that first,China's green innovation level is characterized by unbalanced development among different regions-the coastal areas develop rapidly while the inland areas develop comparatively slowly.Green innovation output is polarized among different cities,and the trend is more severe in inland areas.Second,economic development acts as the leading factor influencing the overall green innovation output of China both in inland and coastal areas,factor input follows as the second influencing factor,while government behavior has a comparatively small impact on green innovation.Third,regarding green patents of different types in different regions,economic development still serves as the major factor of unbalanced output of all kinds of patents,and government behavior has a relatively obvious regional characteristic,whose impact on inland areas is more evident.
基金supported by the Social Science Planning and Research Project of Shandong province(Grant No.20BJJJ06)National Social Science Fund of China(Grant No.15BJY058)。
文摘Taking Shandong province,one of China’s first batch of circular economy pilot provinces,as an example,this paper summarizes some types of regional green innovation system models through the cases study and retrospective reasoning and retrospective approaches.The models mentioned above include(1)the innovation system model of green animal husbandry in coastal small towns,(2)the green innovation system model in intravenous industry park,(3)the green innovation system model in coastal hi-tech industrial development zone based on the development of eco-industrial and low-carbon industries,(4)the green innovation system model in coastal economic&technological development area based on the development of ecological arterial industry and the ecological intravenous industry through the waste recycle inside and outside the area,(5)the green innovation system model of coastal harbor economic and technological development area based on constructing tiny-medium-macro circulation,(6)the green innovation system of reformed coastal economic and technological development zone turning to the recycling marine industry innovation,and(7)the green innovation system model of high-tech industry development zone tending to recycling innovation of biological industry.This paper aims to analyze the characteristics of these models,the formation mechanism,and further to discuss their implications for greening the same type of regional innovation systems.
基金support from the Humanities and Social Sciences Research Project of the Ministry of Education(No.22YJCZH121)Undergraduate Teaching Quality and Teaching Reform Project of Anhui University of Finance and Economics(acjyzd2022035).
文摘As the extraction and usage of natural resources continue to be a double-edged sword-supporting economic growth but deteriorating the environment-we study the impact of natural resource mining on sustainable economic development in the largest(PPP)economy-China.We use province-level data from 2001 to 2020 and employ econometric panel techniques,such as fixed effects,two-stage least squares,and a battery of robustness tests.We further explore the potential effects of education and green innovation in mitigating/exacerbating the role of natural resources in the Chinese provincial economy.The results show that:(1)Natural resource mining hurts sustainable development,verifying the“resource curse”effect.(2)Green innovation and education restrain the negative impact of resource mining on sustainable development,turning the curse into a blessing.(3)A regional heterogeneity is observed in the impact of resource mining on sustainable development,showing more significant effects in the Western and low-urbanized regions.(4)Green innovation and education can assuage the curse effect of natural resources into gospel effect.Policy implications and recommendations are proposed in light of the findings to promote sustainable economic development in China.
文摘There is growing attention from governments and regulators towards crucial matters such as climate change and global warming,resulting in a pressing need to investigate the factors that make it possible for businesses to engage in green finance(GF).The externality of environmental pollution prioritizes the need of green innovation(GI)in public management.GF distributes financial resources to the research and development(R&D)of clean energy and environmentally friendly goods and processes;it is complementary to the GI process for environmental protection.GF policies help to alleviate the impacts of financial constraints and GI impaired industries involving new products,processes,services and the global market.To better understand how GF and GI have functioned as a catalyst for circular economy practices,this paper seeks to present a historical and contemporary overview of these concepts.The research is thoroughly dissected by a systematic literature evaluation of articles from 2016 to 2023 that appear in peer-reviewed journals and are indexed in the SCOPUS database.To attain supply chain circularity,this article encompasses four major research themes concerning the adoption of GF and green technologies.The research also includes a network analysis of shortlisted articles to examine the overall citation trends.It is shown that several institutional theories are associated with the investigated area.As a final step,a framework is provided to illustrate how GF and GIs might be used to achieve supply chain circularity.The research findings provide a novel concept related to GF within the context of GI which are significant for environmentalists,policymakers,green investors,and researchers.Through its findings,the study provides a conceptual framework that promotes sustainable strategies to effectively balance financial considerations and environmental innovation.It helps to leverage the potential of green research and practice to create value for businesses and to benefit society at large.The analysis provides an unexplored and significant contribution to current literature in terms of delivering evidence of the past and present approaches to GF and GI in a circular economy.The results of this study will attract the attention of policymakers and stakeholders to develop and combine the two concepts in research and practice to attain environmental balance in the circular economy and to promote long term sustainability.
文摘A reconciliation of the disagreement on whether financial globalization(FG)affects ecological footprint through the scale,technique and composition effects cannot be achieved without an explicit understanding of the direct and indirect interactions of FG with environmental sustainability.Hence,the novel perspective of this study lies in the investigation of how green innovations moderate the non-linear tendencies in the FG-environmental sustainability link among western African states given the abundance of natural resources and the prevailing pace of economic growth.The core findings are obtained from robust analysis based on cross-sectional autoregressive distributed lag(CS-ARDL)technique,the augmented mean group(AMG)technique,and the common correlated effects mean group(CCEMG)advanced estimators.Firstly,the beneficial ecological impacts of green innovations were observed.As per direct impact,enhanced financial globalization(FG)exhibits non-linear detrimental ecological effects.However,green innovations cushion the observed adverse ecological effects of FG.Furthermore,resource rents reduce ecological footprint within the moderating framework of green innovation as the environmental Kuznets curve(EKC)is validated among the states.Additionally,a bidirectional causal link between financial globalization,green innovations,economic growth,natural resources,and ecological footprint was observed.Thus,the significant policy implication is for the West African states to decisively increase their investments in green innovations while strategically encouraging the share of ecologically friendly resources in total resource utilization to guarantee a more sustainable environment.
基金support from the National Social Science Fund of China(No.23&ZD054).
文摘Environment-related notifications play an important role in the coordinated development of trade and environment protection.In this paper,we examine how Chinese exporting enterprises responded to environment-related notifications implemented by the US through green innovation practices.These notifications significantly encouraged exporting firms to increase green innovation,as evidenced particularly by the number of green utility model patents granted.This effect was most pronounced in non-foreign-invested enterprises,high-total-factor-productivity firms,technology-intensive industries,and nongreen industries.These notifications also increased the probability of enterprises exiting the market while reducing the probability of new enterprises entering it.The innovation motivation of surviving firms was higher than that of the new entrants.Our analysis also suggests that environment-related notifications had a crowding-out effect on other innovation rather than a leverage effect.This study offers important empirical evidence that helps enterprises to respond to green non-tariff measures effectively,enrich the existing literature,and provide practical guidance for both policymaking and corporate development.
基金supported by the National Office for Philosophy and Social Sciences(No.20BGL093)Postdoctoral Fund of Hainan Province.
文摘This study investigates whether and how customer firms’environmental,social and governance(ESG)performance impacts suppliers’green innovation quality using a sample of Chinese A-share listed companies from 2009 to 2022.We find that customers’ESG performance facilitates suppliers’green innovation quality through green learning and corporate competition.Additional tests indicate that customers with stickier customer-supplier relationships and a more central position in the supply chain network than peers enhance suppliers’green innovation quality.After categorizing whether customers engage in greenwashing,we determine that those adherence to green principles,genuinely promote suppliers’green innovation quality.Finally,we find the above effect ultimately enhances suppliers’environmental performance.This study provides valuable insights for supply chain companies into collaboratively achieving sustainable development.
基金supported by the key project of Liaoning Provincial Social Science Planning Fund "Mission Drift in the Cultivation of Entrepreneurship in the New Era of Liaoning Province in resource adversity:Generation,impact,and anti-destruction mechanism"(No.L20AGL003,2020-2023).
文摘Corporate digital transformation and green transformation are the key paths to realizing China's high-quality development,and exploring how corporate digital transformation affects green innovation models holds both significant theoretical value and pragmatic enlightenment.By taking the A-share listed companies in China from 2002 to 2021 as research samples,this paper distinguishes between energy conservation and environmental protection green innovation models based on the IPC Green Inventory and the content of green innovation.This paper empirically examines the influence of corporate digital transformation on the green innovation model selection and its mechanism.The study finds that corporate digital transformation strongly motivates enterprises to select green innovation model,a role that stems from the utilization of digital underlying technologies.The research and development investment of digital greenization plays a mediating role in this process.Market competition,informal environmental regulations and government innovation subsidies can moderate enterprises'strategies for selecting green innovation models.Further heterogeneity analysis reveals that digital transformation drives corporate selection of energy-saving green innovation to a greater extent in industries that have a greater need for green transformation,such as the manufacturing industry.The results of this paper identify the effect of corporate digital transformation on green innovation model selection at the theoretical level and provide important insights into the coordinated development of Chinese corporate digitalization and greenization at the practical level.
基金supported by the project of the Ministry of Education in China Liberal Arts and Social Sciences Foundation"Research on the ldentification and Intervention of Systemic Correlation Risks in China's Securities Market"(No.18YJC790233)the project of the China Aerospace Science and Technology Corporation"Analysis of the Industrial and Economic Benefits of the Earth-Moon Space"(No.F021060003).
文摘The digital transformation that induces the disruption of traditional production models is as crucial as the green development emphasized during the construction of an ecological civilization.However,there is ongoing debate about whether,and under what contextual conditions,digital transformation promotes corporate green innovation.Using data from A-share listed enterprises on the Shanghai and Shenzhen stock exchanges from 2012 to 2019,this study employs a fixed effect model to analyze the effect of digital transformation on green innovation and its specific mechanisms.There are four findings.(1)Digital transformation significantly improves green innovation in enterprises.This conclusion is supported by quantile analysis and endogenous treatment based on a multi-period difference-in-differences model.(2)Digital transformation stimulates green innovation by enhancing absorptive capacity and internal control.(3)Industry heterogeneity analysis indicates that,compared with non-state-owned enterprises,digital transformation has a greater positive effect on green innovation in state-owned enterprises.The positive effect of digital transformation on green innovation is significant in technology-intensive enterprises but not in non-technology-intensive enterprises.(4)External context tests show that in regions with stringent environmental regulations,digital transformation significantly promotes green innovation,whereas in regions with weak environmental regulations,its effect is not significant.Furthermore,the positive correlation between digital transformation and green innovation remains largely unchanged as the level of green finance increases.
文摘Green technology innovation is an important driving force and source to promote my country’s high-quality development,and it is the core path to achieve sustainable development.This paper uses my country’s provincial panel data from 2016 to 2019 to study the impact mechanism of R&D investment on green technology innovation,and introduces the level of digitization,using the panel threshold model to discuss its role in the impact mechanism of R&D investment on green technology innovation.The study found that when the level of digitalization in a region is low,increasing R&D investment does not necessarily improve the ability of green technology innovation;when the level of digitalization is relatively high,R&D investment has a positive role in promoting green technology innovation.Therefore,it is necessary to improve policies to encourage enterprises to increase investment in research and development;at the same time,it is necessary to promote the coordinated development of digital foundation,digital investment,digital literacy,digital economy and digital application,and promote the deep integration of digitalization and green technology innovation.
