Environmental cooperation system, ESG performance and corporate green innovation: Empirical evidence from China

Frontiers in Psychology

Psychology

Chen Gang¹  Shi Qiang²  Huang Dawei³ 

[1] School of Economics and Management, Harbin Institute of Technology Shenzhen, Shenzhen, China;School of Management, Shenzhen Polytechnic, Shenzhen, China;School of Management, Shenzhen Polytechnic, Shenzhen, China;School of Economics and Management, Harbin Institute of Technology Shenzhen, Shenzhen, China;

关键词: environmental cooperation system;    corporate green innovation;    ESG performance;    difference-in-differences;    corporate environmental social responsibility;    executives’ overseas background;   

DOI  :  10.3389/fpsyg.2023.1096419

 received in 2022-11-12, accepted in 2023-01-10,  发布年份 2023

来源: Frontiers

【 摘 要 】

The Environmental Cooperation System (ECS) is a new exploration of the government’s spatial environmental policy to meet the requirements of green and sustainable development, so it is very important to scientifically evaluate its green innovation effect. Based on China’s A-share listed companies from 2006 to 2021, from the perspective of corporate ESG performance, we apply the multi-dimensional fixed-effects difference-in-differences (DID) model, and empirically test the impact, mechanism, and heterogeneity of the Environmental Cooperation System of Shenzhen-Dongguan-Huizhou Metropolis (ECS-SDHM) on corporate green innovation. It found that ECS-SDHM can significantly improve corporate green innovation, and the policy effect is more significant in the private enterprise group. Secondly, we use ESG rating score and decomposition indicators to deeply analyze the green innovation effect mechanism of ECS-SDHM from the perspective of ESG performance. The results show that ECS-SDHM can enhance corporate green innovation by significantly improving corporate ESG performance, environmental governance, and social governance. Further research found that both corporate environmental social responsibility and executives’ overseas backgrounds can positively moderate the green innovation effect of ECS-SDHM by positively moderating the ESG performance mechanism.

【 授权许可】

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Copyright © 2023 Qiang, Gang and Dawei.