How Can Confucianist Entrepreneurship Win in a Challenging Environment:Moderating Effect on the Cordial and Clean Government-Business Relationship

In the traditional Confucian gentleman culture,Chinese entrepreneurs have cultivated unique mindset and have harnessed such mindset in managing the government-business relationship,which is strategically critical for innovation.This paper builds a theoretical framework of Confucianist entrepreneurship-collaborative innovation-enterprise performance,studies the impact of such entrepreneurship on enterprise performance.From the perspective of collaborative innovation,internal innovation mechanism has been studied,and the moderating effect and conditional boundary of the cordial and clean government-business relationship have been further validated.A survey of 1,437 micro,small and medium-sized enterprises(MSMEs)made in China in 2019 found that:(1)Confucianist entrepreneurship has a significant positive impact on promoting the enterprise performance;(2)collaborative innovation has demonstrated the action mechanism of Confucianist entrepreneurship on enterprise performance;(3)the cordial and clean government-business relationship positively moderates entrepreneurship on enterprise performance.It also has the positive intermediary effect on collaborative innovation between Confucianist entrepreneurs and enterprise performance.This study has not only expanded the scope of research on entrepreneurship and Confucian culture and ethics,but has also extended the integration of entrepreneurship and collaborative innovation to the micro level,providing theoretical and practical inspiration for the innovation practices of small and micro-sized(SMEs)enterprises.

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.