Moderating effect of corporate financialization on the impact of climate policy on corporate green innovation:Evidence from China

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.

The Mediating Effect of Digital Transformation on the Link Between Executive Overconfidence and Corporate Green Innovation

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.

Establishment of Regional Green Innovation Value Chains:A Case Study on Tackling the Impeded Diffusion of Green Products

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.

How R&D investment promotes green technology innovation in the context of digitalization?-An empirical analysis based on provincial panel data

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.

Exploring Effective Ways of Green Printing to Reduce Harmful Volatile Organic Compounds Emissions

This paper delves into the transformative shift in the printing industry from traditional petroleum-based inks to sustainable alternatives,focusing on soy ink.Initially,it examines the environmental and health hazards associated with conventional printing,highlighting the detrimental impact of volatile organic compounds(VOCs)and toxic substances in inks.The emergence of soy ink as an eco-friendly solution is then explored.Derived from soybeans,soy ink significantly reduces the release of harmful VOCs and enhances the recyclability of printed materials.The paper discusses not only the environmental benefits of soy ink but also its operational and economic advantages,such as improved deinking capabilities and waste reduction.A notable development in soy ink technology is the use of soy methyl ester,which addresses the challenges of slow drying and penetration associated with traditional inks.The paper concludes by emphasizing the need for continued innovation in sustainable practices within the printing industry,positioning soy ink as a key player in aligning economic goals with environmental responsibility.The shift to soy-based inks exemplifies a broader trend towards sustainability,pivotal for the future health of the planet.

Research on the Impact of BYD Group’s Green Innovation on Corporate Financial Performance under the Background of“Dual Carbon”

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.”

Dynamic evolution and trend prediction of multi-scale green innovation in China

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.

China’s urban green innovation:Regional differences,distribution dynamics,and convergence

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.

Promoting or inhibiting? Green fiscal policy and urban green innovation

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.

Regional green finance development and local green innovation:Evidence from a quasi-natural experiment of green bond issuance in China

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.

Do ESG Scores in Corporations Improve Green Innovation Empirical Evidence from Listed Chinese Companies

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.

Research on the Impact of Digital Finance on Energy Efficiency in China

Digital finance and green technology innovation(GTI)serve as powerful engines for promoting energy efficiency(EE)and economic development.This paper explores the mechanism by which digital finance impacts EE based on panel data from 30 provinces in China spanning from 2011 to 2019.The results demonstrate that digital finance can significantly enhance EE,with a particularly pronounced effect in the eastern region.Through mechanistic analysis,it is evident that GTI serves as the transmission pathway through which digital finance influences EE,accounting for 45.3%of the effect.The policy implication of this study suggests that China should expedite the digitization of financial markets to further harness the development of digital finance,particularly in pursuit of its technological innovation and green,lowcarbon environmental protection effects.

The impact of carbon emission trading policy on firms’green innovation in China

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.

Study on the efficiency and regional disparity of green technology innovation in China's industrial companies

This paper first constructed a system to evaluate the innovation efficiency of industrial companies within China's Mainland.Then,a principal component analysis(PCA) was performed to these indicators for dimensionality reduction,so as to figure out the technology innovation efficiency in these two phases,respectively.Finally,the overall efficiency of industrial companies in different regions was estimated and factorized via data envelopment analysis(DEA).The results showed that:(1)the efficiency of green technology innovation of industrial companies in China was relatively low as a whole,which mainly resulted from pure technical efficiency(PTE).Further,this huge gap continues to expand in these regions.And both PTE and scale efficiency(SE) in central and western regions leave much to be expected.(2)In the first phase of green technology development,when environmental factors were concerned,the efficiency was much lower than that without environmental considerations.Besides,the central and western regions were facing increasingly severe environmental problems,and there was a wide disparity in technology development efficiency among eastern,central,and western regions.(3)In the second phase of green technology commercialization,there were still more rooms for improvement in raising the efficiency of green technology innovation,and the efficiency in eastern,central,and western regions was ranked from highest to lowest.(4)Liaoning,Hebei,Heilongjiang,Xinjiang,Shanxi,Inner Mongolia,Yunnan,and Qinghai should focus on improving their technology;Jilin,Jiangxi,Anhui,and Guangxi should make their efforts to reduce resource redundancy;whereas Ningxia and Gansu should try to solve the above two issues.

Evaluation and Influence Factor of Green Efficiency of China’s Agricultural Innovation from the Perspective of Technical Transformation

Agricultural innovation is important for the green transformation of agriculture.Based on the perspective of technology transformation,this paper builds a theoretical analysis framework and evaluation index system for green efficiency of agricultural innovation,and discusses the evolution laws and influencing factors of the green efficiency of China’s agricultural innovation from 2005 to 2017 utilizing the DEA model,Malmquist index,and Tobit regression analysis.The results show that:1)The overall green efficiency of China’s agricultural innovation is not high,the green efficiency of agricultural innovation in eastern China is mainly driven by pure technical efficiency,while that in central and western China is mainly driven by the scale efficiency.The green efficiency of agricultural innovation shows significant spatial differences,and the low efficiency and relatively low-efficiency regions moved to central and southeastern China.2)Technical progress is the main force affecting the change of green total factor productivity of China’s agricultural innovation,seeing a trend of decrease followed by an increase.Pure technical efficiency and scale efficiency exhibit an increasing-decreasing trend,and gradually transform into key factors that restrict the improvement of the green total factor productivity of agricultural innovation.3)Agricultural technologies’diffusion,absorption,and implementation are three influencing factors of the green efficiency of agricultural innovation.The local level of informatization,the number of agricultural technicians in enterprises and institutions,average education level of residents,and the level of agricultural mechanization have positive impacts on the promotion of the green efficiency of agricultural innovation,promoting the diffusion,absorption and implementation of agricultural innovation technology can significantly improve the green efficiency of agricultural innovation.

Factors affecting green innovation: An analysis of patent and regional heterogeneity

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.

Calculation of the influence of Green Technology Innovation to Eco-Industrial Management in China

The function of Green Technology Innovation （GTI） in the Eco-Industrial Management （ELM） appears more and more important, but the research on how much this function plays is scarce. The influence of Green Technology Innovation to the Eco-Industrial Management has gradually received the academic and the industrial attention. In this article an empirical research was attempted to inspect whether such influence exists and to what value. The study attempts to empirically explore the influencing degree of GTI on EIM in China based on the double logarithmic regression equation.

The Influence of TBT on Green Technical Innovation of Chinese Agricultural Enterprise

In recent years, many countries implement the TBT in the export trade practice of agricultural products, which has greatly positive influence on the Chinese agricultural products export enterprise. On the basis of green technical innovation concept, the paper had determined the enterprise green technical innovation motivation mechanism, analyzed the influence of TBT on green technical innovation of the enterprise, and integrated Chinese reality to analyze the influence of TBT on green technical innovation of Chinese agricultural enterprise. Finally, based on the above analysis, the paper proposed corresponding suggestions to the Chinese government.

TOWARDS ESTABLISHING DIFFUSION BARRIERS FOR INNOVATIVE GREEN BUILDING PRODUCTS: A SURVEY OF SIPS BUILDERS

The aim of this paper is to propose and demonstrate an approach for exploring diffusion barriers specific to innovative green building products.Innovative green building products aim at reducing environmental impacts during a product’s entire life-cycle,helping mitigate the substantial environmental degradation caused by current construction patterns.Few studies establish attributes that differentiate such products within the construction market,a key facet to increasing adoption.For key stakeholders,product attributes can affect the rate of adoption and the nature of use.Toward that end,this work:1)Collects attributes common to all innovative building products through literature review in residential construction innovation,diffusion and adoption attributes,and green products;2)utilizes a survey of certified green home builders as a sample population and Structural Insulated Panels as a“control”product to identify which product attributes specifically influence the use of green building products;and 3)Evaluates the relative influence of attributes on product adoption during initial trial of the product and for continued use of the product.Identifying attributes of green building products that influence adoption could enhance product development through reducing barriers to diffusion and commercialization across the residential construction industry.This work focuses on one specific product,Structural Insulated Panel systems(SIPS),from the standpoint of a population of green builders.As such,it attempts to serve as a scalable basis for future research.

Research on the model of regional green innovation system in China:A case study of Shandong province

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.