文献类型：期刊文献

英文题名：Exploration or Exploitation? Corporate Green Innovation Strategy for Carbon Emission Reduction-Evidence from Pilot Enterprises in China

作者：Liu, Shanshan[1];Li, Yugang[1]

机构：[1]East China Univ Sci & Technol, Sch Business, Dept Business Adm, Shanghai 200237, Peoples R China

年份：2024

卷号：16

期号：11

外文期刊名：SUSTAINABILITY

收录：;WOS:【SSCI(收录号:WOS:001245292900001)，SCI-EXPANDED(收录号:WOS:001245292900001)】；

基金：The conceptualization and design of the study were collaboratively developed by all authors. The initial draft of the manuscript was composed by Shanshan Liu, with subsequent versions receiving insightful feedback from all contributors. We thank Yugang Li for his comments on the manuscript. In addition, we are grateful to Jintao Zhang for his valuable suggestions, and his patience. Finally, we are very grateful to our English major friend Kelly for carefully revising and polishing our article and helping us improve our English writing skills.

语种：英文

外文关键词：carbon trading; green innovation; exploratory green innovation; exploitative green innovation; innovation equilibrium

摘要：Green innovation has become a key strategy for reducing emissions. However, existing research mainly examines this phenomenon through the resource and institutional perspectives, often ignoring the changes in corporate green innovation behavior under industry peer pressure. Therefore, this study draws on the policy framework of China's carbon trading pilot and uses a multi-period difference-in-difference (DID) fixed effects model to explore how carbon trading shapes enterprises' green innovation strategies. The survey used data from pilot enterprises from 2008 to 2019 and found that carbon trading policies are conducive to green innovation, and both exploratory green innovation and exploitative green innovation have been reflected. It is worth noting that under the influence of peer pressure, this positive effect is more prominent in exploratory green innovation. Furthermore, it was found that firms facing carbon pressure can skillfully find an equilibrium between exploratory green innovation and exploitative green innovation. The research results demonstrate the green innovation strategies and trade-offs of Chinese enterprises facing the impact of carbon trading policies, with the hope that the research conclusions will have certain theoretical reference significance for future corporate green transformation and increased investment in green innovation.