The role of principal-agent in corporate financialization and green innovation

Finance research letters, Год журнала: 2024, Номер 63, С. 105391 - 105391

Опубликована: Апрель 10, 2024

Язык: Английский

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Government R&D Subsidies, Environmental Regulation and Corporate Green Innovation Performance

Finance research letters, Год журнала: 2024, Номер unknown, С. 106088 - 106088

Опубликована: Сен. 1, 2024

Язык: Английский

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Manager myopia and green technology innovation

Management Decision, Год журнала: 2024, Номер 62(5), С. 1618 - 1644

Опубликована: Март 26, 2024

Purpose With the growing concern of various sectors society regarding environmental issues and promotion sustainable development, green technology innovation is generally considered to be conducive long-term development enterprises. However, because existence agency problems, managers may have shortsighted behaviors. Then how will managers' behaviors affect enterprises' innovation? Design/methodology/approach This paper uses machine learning-based text analysis methods construct a manager myopia index based on data from A-share listed companies Shanghai Shenzhen Stock Exchanges 2015 2020. We examine impact in companies. Findings Our study finds that significantly inhibits when multiple large shareholders coexist proportion institutional investors' holdings high, it can alleviate inhibitory effect innovation. Heterogeneity tests show relatively significant non-state-owned manufacturing companies, as well electricity industry. Robustness demonstrate our conclusions remain valid after using propensity score matching eliminate endogeneity problems. Originality/value From perspective corporate governance, this incorporates shortsightedness, shareholding ratios into same logical framework, analyzes their internal mechanisms, helps improve enhances capabilities has strong implications for implementation national innovation-driven strategies achievement “carbon peak” neutrality” targets.

Язык: Английский

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The Bright Side of Uncertainty: The Impact of Climate Policy Uncertainty on Urban Green Total Factor Energy Efficiency

Energies, Год журнала: 2024, Номер 17(12), С. 2899 - 2899

Опубликована: Июнь 13, 2024

Climate change has a significant impact on human economic and social life, climate issues have rapidly emerged as global hot topic. Using data from prefecture-level cities in China 2005 to 2020 sample, this study explores the relationship between policy uncertainty (CPU) urban green total factor energy efficiency (GTFEE). The results show that, first, CPU can significantly improve GTFEE, are reconfirmed after various robustness tests. Second, promotes GTFEE by improving public environmental concerns optimizing consumption structure. Third, promotion role of is particularly resource-based economically developed cities. provide theoretical basis practical enlightenment for government formulate forward-looking policies promote transformation development

Язык: Английский

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Regional financial reform and corporate green innovation–Evidence based on the establishment of China National Financial Comprehensive Reform Pilot Zones

Finance research letters, Год журнала: 2023, Номер 60, С. 104849 - 104849

Опубликована: Дек. 12, 2023

Язык: Английский

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Non-Linear Effects of Economic Policy Uncertainty on Green Innovation: Evidence from BRICS Countries

Sustainability, Год журнала: 2024, Номер 16(21), С. 9529 - 9529

Опубликована: Ноя. 1, 2024

This research investigates the influence of economic policy uncertainty (EPU) and its squared term (squared EPU) on advancement environmental technologies registration patents in BRICS nations over period from 2010 to 2022. Employing cross-section autoregressive distributed lag (CS-ARDL) technique, analysis reveals a significant negative relationship liaison between EPU both innovation patent registrations, indicating that an increased discourages investment sustainable technologies. Conversely, positive was found with square EPU, suggesting elevated levels may stimulate innovative responses as firms seek differentiate themselves competitive market. These findings underscore necessity for stable transparent frameworks foster long-term commitments innovation. enriches literature by illustrating dual nature differentiated effects eco-innovation.

Язык: Английский

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Optimal joint production and green investment decisions of green credit financing under uncertain demands

Frontiers in Environmental Science, Год журнала: 2025, Номер 12

Опубликована: Янв. 22, 2025

Green credit financing (GCF) is a specialized financial service offered by banks, aimed at incentivizing borrowers to engage in environmentally sustainable investments, and thus promote development. It worth noting that the practical economic environment, ability of enterprises adapt their production green investment decisions unforeseen market demand critical for financing. This paper investigates joint optimization problem manufacturers financed through GCF under uncertain demand. Only interval bound are known. The initially formulated as min-max regret model maximize robustness. Based on characterizations, an optimal decision proposed. To determine effectiveness proposed decision, computational experiments conducted real-world instances. Besides, sensitivity analysis derive managerial insights implementation

Язык: Английский

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Will Digital Inclusive Finance Improve the Quality and Quantity of SMEs’ Green Innovation?

Sustainability, Год журнала: 2025, Номер 17(6), С. 2446 - 2446

Опубликована: Март 11, 2025

Whether SMEs can become a significant player in green innovation and reshape the landscape China largely depends on their ability to effectively address lack of momentum for among SMEs. Utilizing data from China’s listed growth enterprise market between 2011 2022, this study empirically examines effects underlying mechanisms digital financial inclusion SMEs, considering both supply corporate financing constraints. The results indicate that inclusive finance significantly enhances quantity quality Moreover, particularly improves with strong ESG performance high equity concentration, compared those weaker lower concentration. Heterogeneity analysis reveals improve state-owned enterprises eastern region. Still, it has no impact central western regions. Regarding mechanism, encourages engage proactively by mitigating constraints increasing R&D investments. findings paper not only reveal how overcome restrictive through finance, but also provide critical insights improving imbalance structure within China.

Язык: Английский

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Green finance reform under climate policy uncertainty: Implications for energy transition and security

Energy Policy, Год журнала: 2025, Номер 202, С. 114607 - 114607

Опубликована: Март 23, 2025

Язык: Английский

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Green innovation within moroccan small and medium-sized enterprises: Literature review and questions research

Social Sciences & Humanities Open, Год журнала: 2025, Номер 11, С. 101482 - 101482

Опубликована: Янв. 1, 2025

Язык: Английский

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