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How does economic policy uncertainty affect corporate green innovation? Evidence from China

被引：0
|
作者：
Zhang, Shengling [1 ]
Wu, Zihao [1 ]
Dou, Wei [1 ]
Hao, Yu [2 ,3 ,4 ]
机构：
[1] Beijing Normal Univ, Sch Econ & Resource Management, Beijing, Peoples R China
[2] Beijing Inst Technol, Ctr Energy & Environm Policy Res, Beijing, Peoples R China
[3] Beijing Inst Technol, Sch Management & Econ, Beijing, Peoples R China
[4] Int Macau Inst Acad Res, Econ & Management Res Inst, Macau, Peoples R China
来源：
JOURNAL OF ENVIRONMENTAL PLANNING AND MANAGEMENT | 2023年
基金：
中国国家自然科学基金;
关键词：
economic policy uncertainty; green innovation; government subsidies; R&D investment; RESEARCH-AND-DEVELOPMENT; ENVIRONMENTAL-MANAGEMENT; FIRM PERFORMANCE; COMPETITION; TRADE; CONSTRAINTS; BEHAVIOR; CREDIT; TECHNOLOGY; INVESTMENT;
D O I：
10.1080/09640568.2023.2286926
中图分类号：
F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];
学科分类号：
0201 ; 020105 ; 03 ; 0303 ;
摘要：
Macroeconomic policies profoundly affect companies' behavior. Data on China's Economic Policy Uncertainty (EPU) Index and A-share listed companies from 2007 to 2019 were selected to investigate the impact of EPU on corporate green innovation (GI). We find that (i) EPU promotes both substantive green innovation (SUGI) and strategic green innovation (STGI). (ii) Property rights, government subsidies (GSs), industry competition, and industry type have significant moderating effects on the promotion of GI. (iii) EPU promotes GI by forcing companies to increase R&D investment and R&D personnel. (iv) The impact of EPU on GI has a threshold effect of cash flow volatility (CFV). Our findings provide a reference for further guiding enterprises to GI during frequent economic policy changes.
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页数：27
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