Sustainability, Год журнала: 2025, Номер 17(10), С. 4547 - 4547

Опубликована: Май 16, 2025

Family businesses play a vital role in the global economy as an organizational form that has evolved over time. However, Chinese family firms generally suffer from insufficient investment research and development. Based on panel data of listed 2008 to 2022, this study investigates impact government green subsidies firms’ innovation, along with heterogeneity such effects under different scenarios. The results show significantly promote both strategic substantive innovation. moderating effect analysis reveals economic policy uncertainty weakens baseline effect. Further confirms positive is achieved by alleviating R&D funding constraints. Heterogeneity indicates have stronger non-heavily polluting firms; they innovation more effectively low managerial cognition, those high cognition. Additionally, vary across firm life cycle: enhance during growth maturity stages, decline stages. This mechanisms through which affect offers implications for promoting sustainable development business sector.

Язык: Английский