Winning stakeholder support: Value creation through green-process innovation

被引：0
|
作者：
Liu, Ting [1 ]
Wang, Lihong [2 ]
机构：
[1] Guangdong Univ Finance & Econ, Sch Accounting, Sch Intelligent Finance & Accounting Management, Guangzhou 510320, Peoples R China
[2] Xiamen Univ, Inst Financial & Accounting Studies, Ctr Accounting Studies, SimingNanlu 422, Xiamen 361005, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 67卷
关键词：
Green-process innovation; Firm value; Trust; Stakeholders; Green credit; CORPORATE SOCIAL-RESPONSIBILITY; FIRM PERFORMANCE; SUSTAINABILITY; DETERMINANTS; TRUST;
D O I：
10.1016/j.frl.2024.105945
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using a sample of Chinese listed firms in the manufacturing industry during 2009-2020, this study manually collects data on green-process innovation and explores its impact on corporate value. The empirical results show that green-process innovation positively affects corporate value. Moreover, the mediation analysis reveals that the positive impact of green-process innovation on corporate value stems from its effects on profitability, trade credit, labor productivity, and government recognition. Next, a cross-sectional analysis suggests that this value effect is more significant for firms located in areas with a more developed green credit market.
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页数：11
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