文献类型：期刊文献

英文题名：State-owned capital and quality of green innovation: Evidence from Chinese listed private firms

作者：Yan, Haifeng[1];Chen, Zhengyi[1];Yang, Yunpeng[2]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[2]Shanghai Jiao Tong Univ, Antai Coll Econ & Management, Shanghai 200030, Peoples R China

年份：2024

卷号：10

期号：7

外文期刊名：HELIYON

收录：;WOS:【SCI-EXPANDED(收录号:WOS:001225357000001)】；

基金：This research was funded by the National Natural Science Foundation of China, China (71972072), the Soft Science Research Project of Shanghai (23692104400), the Major Projects on Philosophy and Social Science Research of the Ministry of Education of the People's Republic of China, China (20JZD010), the Youth Project of Shanghai Office of Philosophy and Social Science, China (2021EJB006), the Humanities Youth Talent Cultivation Program at SJTU (2023QN004) and the Startup Fund for Young Faculty at SJTU, China (SFYF at SJTU).

语种：英文

外文关键词：Green innovation; State-owned capital; Private enterprises; Self-serving behavior; Internal governance; Carbon peak and carbon neutrality

摘要：Green innovation is pivotal for global sustainability, with state-owned capital playing a significant role, especially in the Chinese corporate landscape. This study, spanning 2008 to 2020 and leveraging a comprehensive dataset of listed companies, explores the intricate relationship between state-owned capital and the quality of green innovation in Chinese private enterprises. Motivated by the imperative to address crucial issues in green innovation quality in China, this research utilizes empirical data to uncover the mechanisms through which state-owned capital fosters green innovation. The study reveals how state-owned capital optimizes internal governance structures and reinforces environmental consciousness within private firms. Findings underscore the crucial role of state-owned capital in enhancing the quality of green innovation in private enterprises, operating through two primary mechanisms. Firstly, state-owned capital cultivates a heightened inclination towards green innovation within these firms. Secondly, it facilitates the adoption of enhanced internal governance practices, catalyzing the development of high-quality green innovation projects. A battery of mechanism tests provides robust evidence that state-owned capital enhances environmental awareness, restrains self-serving behaviors among major shareholders, mitigates financing constraints, and amplifies the motivation and capability of private enterprises for green innovation. This multifaceted approach ultimately fosters high-quality green innovation within companies. The study reveals the subtle interplay between state capital and private sector green innovation, highlighting its relevance to policymaking and practical considerations. It provides valuable insights into the ongoing pursuit of sustainability and the integration of green practices into the corporate world.