Quantitative Finance and Economics,
Год журнала:
2024,
Номер
8(4), С. 757 - 778
Опубликована: Янв. 1, 2024
<p>As
a
cooperative
platform
connecting
universities,
enterprises,
and
the
government,
national
university
science
parks
(NUSPs)
have
major
impact
on
promoting
technological
innovation
industrial
transfer
are
key
component
of
higher
education
reform
innovation-driven
development
strategy
in
China.
This
study
utilized
panel
data
from
Chinese
listed
firms
2000
to
2020
employed
difference-in-differences
approach
evaluate
NUSPs,
initiated
by
government
2002,
corporate
green
innovation.
The
results
show
that
NUSPs
significantly
enhance
performance.
Specifically,
channels
such
as
research
(R&D)
investment,
technical
talent,
alleviation
financial
constraints
contribute
this
stimulation.
moderating
analysis
reveals
positive
effect
NUSP
projects
is
more
pronounced
nonstate-owned
labor-intensive
firms,
well
non-heavy
polluting
industries,
high-tech
technology-intensive
enterprises.
heterogeneity
indicates
comparatively
notable
influence
level
enterprises
rely
double
first-class
R&D
subsidies,
subject
relatively
high
regional
environmental
supervision
intensity.
Theoretically,
it
enriches
exploration
correlation
between
innovation,
its
internal
mechanism,
broadens
vista
field
university-industry
interactive
Practically,
guides
policymaking
support
enterprise
decisions
cooperate
for
enhanced
sustainable
development,
industry-academia-research
integration
good
ecosystem.</p>
Baltic Journal of Management,
Год журнала:
2025,
Номер
unknown
Опубликована: Март 6, 2025
Purpose
This
study
aims
to
investigate
the
impact
of
firms’
digital
orientation
(FDO)
on
corporate
green
innovation
(CGI)
among
Chinese
firms,
examining
effects
financial
constraint
as
mediator
and
exploring
heterogeneous
across
different
firm
contexts.
Design/methodology/approach
Using
a
sample
28,697
firm-year
observations
from
A-share
listed
companies
(2008–2021),
we
employ
novel
multidimensional
measure
FDO
derived
textual
analysis
annual
reports.
CGI
is
quantified
using
patent-based
metrics.
We
utilize
fixed-effects
panel
data
models
benchmark
regression
quantify
FDO’s
CGI.
Later,
two-stage
least
squares,
alternate
for
core
explanatory
variable,
well
lead
measures
explained
variable
propensity
score
matching
tackle
concerns
potential
endogeneity.
Findings
Our
results
unveil
substantial
positive
connection
between
facilitated
through
alleviation
constraints.
Furthermore,
heterogeneity
shows
that
more
pronounced
state-owned
enterprises,
firms
in
areas
with
lower
technology
development
politically
connected
firms.
Practical
implications
findings
suggest
managers
should
view
strategic
posture
can
drive
sustainable
innovation,
not
just
technological
imperative.
Policymakers
consider
role
when
designing
policies
promote
CGI,
particularly
less-developed
regions.
Originality/value
extends
current
understanding
by:
(1)
Employing
comprehensive
goes
beyond
existing
technologically
focused
transformation
matrices.
(2)
Identifying
constraints
key
mediating
mechanism
FDO–CGI
relationship.
(3)
Revealing
contexts,
providing
nuanced
insights
into
how
institutional
environmental
factors
moderate
this
