Corporate sustainable development driven by high-quality innovation: Does fiscal decentralization really matter?

Pu, Xiaohong; Zeng, Ming; Zhang, Weike

doi:10.1016/j.eap.2023.03.008

Cited by 36 publications

(16 citation statements)

References 67 publications

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“…To sum up, most of the existing studies in the literature discuss the impact of environmental regulations on green development, but few studies focus on in-depth exploration from the perspective of low-carbon governance. In addition, fiscal decentralization mainly refers to the source and form of fiscal revenue organized by the central government according to the items and scope of fiscal expenditure [ 37 ]. As an important part of the fiscal relationship between the central and local governments, fiscal decentralization may play an important role in the relationship between low-carbon governance and the green development of enterprises.…”

Section: Literature Reviewmentioning

confidence: 99%

Low-carbon governance, fiscal decentralization, and enterprise green development: Evidence from China

Liu,

Kuang,

Ding

et al. 2024

PLoS ONE

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Simultaneously achieving economic development and environmental protection is a shared global challenge. While the positive effect of environmental regulations on protecting the environment has been widely recognized, the attention paid to low-carbon governance and corporate green transformation remains insufficient. Based on the two-stage least square regression model (2SLS) of instrumental variables, this paper utilizes panel data from China to identify the influence mechanism of government low-carbon governance on enterprise green development. It explores the effect of low-carbon governance on enterprise green development from the perspective of fiscal decentralization. The findings show that (1) Low-carbon governance significantly promotes corporate green development, primarily through improving industrial structure and technological innovation; (2) Low-carbon governance notably promotes the green development of private enterprises but has little effect on state-owned enterprises. There are also geographical differences, and the results are better in Eastern China than in the Central and Western parts of China; (3) Fiscal decentralization at both central and local levels inhibits the effect of low-carbon governance on driving corporate green development by causing a mismatch of human resources. Therefore, to promote corporate green development, low-carbon governance must prioritize green development, actively guide industrial structural upgrading and enterprise technological innovation, implement differentiated low-carbon governance measures tailored to different ownership enterprises, and optimize the assessment indicators for fiscal decentralization. This paper helps deepen the understanding of the relationship between government low-carbon governance and enterprise green development in developing countries. It can be used as a reference for government departments to formulate relevant policies.

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Section: Literature Reviewmentioning

confidence: 99%

Low-carbon governance, fiscal decentralization, and enterprise green development: Evidence from China

Liu,

Kuang,

Ding

et al. 2024

PLoS ONE

View full text Add to dashboard Cite

show abstract

“…(4) To eliminate the influence of heteroskedasticity, this study logarithmicized some of the main continuous variables. (5) To explain the economic significance of the coefficients of the independent variables and covariance issues, this study considered the continuous variables involved in the interaction term of the moderating effect. Table 1 illustrates the sample processing.…”

Section: Sample Selection and Data Sourcesmentioning

confidence: 99%

“…Meanwhile, stakeholders are beginning to focus on corporate social performance and green development, recognizing the importance of the sustainable development of enterprises. Therefore, Chinese companies must improve their own green technological innovation capabilities for their long-term development [5]. The matter of how to improve corporate green technology innovation has gained academic attention.…”

Section: Introductionmentioning

confidence: 99%

Corporate Social Responsibility and Green Technology Innovation: The Moderating Role of Stakeholders

Chen

Jin

2023

Sustainability

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With economic globalization, sustainable development has become the preferred choice of enterprises facing fierce competition. Innovation is the primary driving force of development. As the driving force of sustainable development, green technology innovation (GTI) is crucial for enterprises. As a key influencing factor for green technological innovation, corporate social responsibility (CSR) behavior has received increasing attention. Based on stakeholder theory, stakeholders influence enterprises’ long-term strategic development goals. This study aims to examine the importance of CSR in advancing GTI and the involvement of stakeholders. Thus, this study selected Chinese A-share listed companies from 2011 to 2020 as research objects and used fixed-effects regression models. The results identify the positive effects of CSR on GTI. This study also divided the stakeholders into different groups and elucidated, from different stakeholder perspectives, the positive moderating effects of government environmental subsidies, investor attention, and executive environmental attention on the relationship between CSR and GTI. This study verifies the direct impact of CSR on GTI, enriches the theoretical foundations of stakeholder theory and resource-based theory, and provides practical suggestions for enterprises to improve their social and environmental performance and green development. It also reveals the cognitive roles of governments, investors, and executives in environmental protection and governance, which will help Chinese enterprises to better fulfil their social responsibility, improve their own green technological innovation, and achieve sustainable development.

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“…(2) During the promotion and implementation of the carbon trading policy, economic entities also need to make timely changes in accordance with the actual situation and their own development status, carry out high-quality innovation to maintain market competitiveness [56], and adapt to the current trend of green development. For the state and the market, we need to establish a system and mechanism to promote the upgrading of industrial structures in all sectors based on the synergistic effects of green technological innovation and energy substitution under the carbon trading policy.…”

Section: Policy Implicationsmentioning

confidence: 99%

Research on the Impact of Carbon Trading Policy on the Structural Upgrading of Marine Industry

Chen

Wen

2023

Sustainability

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To promote greenhouse gas emission reduction, China has proposed a dual carbon target to achieve carbon peaking by 2030 and carbon neutrality by 2060. Since 2013, China has opened an increasing number of carbon emission trading pilot projects, and at this stage, China’s carbon emission trading policy has been gradually promoted to the whole country; therefore, how can marine economy be affected under the promotion of carbon trading policy? This paper uses the difference in differences method to study the data of marine industry structure of Chinese coastal provinces from 2010 to 2018. The study finds that carbon trading policies promote the upgrading of the marine industry structure, and further verifies that the impact of carbon trading policies on the upgrading of the marine industry structure is spatially heterogeneous. In other words, the carbon trading policy also has a significant promoting effect on the provinces within 160 km of the pilot provinces, but the effect will be weaker than that of the pilot provinces; at 160–320 km from the pilot provinces, the carbon trading policy has no significant promoting effect on the provinces within this range; at 320–960 km from the pilot provinces, the effect of the carbon trading policy on the provinces within this range becomes negative and significant, showing a suppressive effect. The experimental findings of this paper will provide a reference for China to achieve its carbon neutrality goal and realize a strong ocean state.

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Corporate sustainable development driven by high-quality innovation: Does fiscal decentralization really matter?

Cited by 36 publications

References 67 publications

Low-carbon governance, fiscal decentralization, and enterprise green development: Evidence from China

Low-carbon governance, fiscal decentralization, and enterprise green development: Evidence from China

Corporate Social Responsibility and Green Technology Innovation: The Moderating Role of Stakeholders

Research on the Impact of Carbon Trading Policy on the Structural Upgrading of Marine Industry

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