“…The increasing environment contamination has significantly influenced the business operations of firms (Chen, Lai, & Wen, 2006;De Marchi, 2012;Zhao, Feng, & Shi, 2018). Both the industrial policies and stakeholders' pressures push firms to purse sustainable development, which has brought new concerns and challenges to firms' innovative activities (Du, Zhang, & Feng, 2018;Lioutas & Charatsari, 2018). Green innovation, which implies that innovations in products or processes lead the companies to higher levels of environmental sustainability, stands out as an important strategic choice (Chang, 2011;Jiang, Chai, Shao, & Feng, 2018;Lin et al, 2013;Tseng, Wang, Chiu, Geng, & Lin, 2013;Zhao et al, 2018).…”