Does environmental, social, and governance performance move together with corporate green innovation in China?
Chang'an University · Xi'an Jiaotong University · +1 more institution
Abstract
Abstract This research investigates the bidirectional cointegration relationship between environmental, social, and governance (ESG) performance and corporate green innovation with a panel of 770 Chinese listed firms during the 2011–2020. We find that there exists a long‐run bidirectional comovement between ESG performance and corporate green innovation output. ESG performance exerts a short‐run and long‐run causal link with green innovation output. The panel cointegration test and VECM estimation also support that ESG performance moves together with green innovation output for clean industries, while ESG performance only presents a long‐run relationship to green invention patents output for pollution…
Citation impact
- FWCI
- 38.35
- Percentile
- 100%
- References
- 63
Authors
4Topics & keywords
- Cointegration
- Corporate governance
- China
- Business
- Corporate social responsibility
- Panel data
- Industrial organization
- Economics
- Industry, innovation and infrastructure