Innovation policy and ecological welfare performance: evidence from a quasi-natural experiment of China

Su, Yutong; Li, Wenqi; Chen, Ming; Wu, Chengfeng; Tan, Xin

doi:10.1007/s11356-023-29307-w

Cited by 9 publications

(7 citation statements)

References 74 publications

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“…Based on this logical reasoning, a mechanism framework of ESG rating influencing the value of enterprises is established in this paper, which includes three components: green technology innovation [45][46][47], internal control, and financing cost, as shown in Figure 1.…”

Section: Hypothesis 5: the Uncertainty Of Economic Policy Positively ...mentioning

confidence: 99%

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Zhang,

Wang,

Guo

et al. 2024

Sustainability

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This paper investigates the effect of environmental, social, and governance (ESG) performance on the enterprise value of heavily polluting listed companies in China’s Shanghai and Shenzhen A-share markets. The study found that ESG performance helps to improve the corporate value of heavily polluting listed companies, and ESG performance has an impact mechanism effect on the corporate value of heavily polluting listed companies through green technology innovation, financing costs, and internal control; the analysis of heterogeneity is conducted from three different perspectives: resource endowment, ownership nature, and overseas background of senior executives. At the same time, the interaction term ESG × EPU is employed to examine the regulatory effect of economic policy uncertainty Non-state-owned enterprises can enhance their enterprise value more effectively by improving their ESG performance based on the research findings. The ESG performance of heavy polluting enterprises in non-resource-based cities has a more obvious role in promoting corporate value; in companies where executives have overseas backgrounds, ESG performance is more conducive to the improvement of corporate value. The empirical evidence derived from the research findings rationalizes the connection between the of ESG performance and enterprise value in industries with high levels of pollution, as well as the pathway of impact.

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Section: Hypothesis 5: the Uncertainty Of Economic Policy Positively ...mentioning

confidence: 99%

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Zhang,

Wang,

Guo

et al. 2024

Sustainability

Self Cite

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show abstract

“…Existing scholars (Liu et al, 2018;Bandara and Pathiratne, 2023;Lin et al, 2023) based on this research paradigm evaluated sustainable development from the perspective of EWP at the national level, provincial level, and municipal level, respectively. Su et al (2023) studied the relationship between GTI and EWP based on the perspective of spatiotemporal transformation. Li and Yang (2023) decomposed and measured the EWP of cities and analyzed the internal mechanism of its transformation process.…”

Section: Research Related To Ecological Welfare Performancementioning

confidence: 99%

“…As we enter a new era of socialism, driven by the three-dimensional goals of pursuing economic growth (EG) as well as environmental friendliness and social equity, the realization of improved EWP is a proper way to promote the harmonious coexistence of human beings and nature and to realize the comprehensive development of human beings (Qu et al, 2023). In the 20th session of the People's Congress, the Chinese Government put forward new requirements for economic and social development and the enhancement of people's wellbeing, and the green and sustainable development model has gradually become an important way of transforming China's development mode and realizing high-quality development (Tan et al, 2023). When the eco-friendly conditions of economic development (ED) are locked in advance, the low-cost and rough EG will be unsustainable (Cui et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

Nonlinear spatial impacts of the digital economy on urban ecological welfare performance: evidence from China

Wang,

2024

Front. Ecol. Evol.

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IntroductionWith the rapid development of digital technology and its deep integration with environmental and ecological fields, the digital economy has become an effective way to guide the transition of cities to an eco-friendly model. However, empirical studies on the nonlinear spatial effects between digital economy and ecological welfare performance are still insufficient.MethodsBased on the panel data of 270 prefecture-level cities in China from 2011 to 2020, this paper empirically examines the impact of the digital economy on the ecological welfare performance of cities and its mechanism of action using spatial econometric modeling.ResultsThe promotion effect of digital economy development on the ecological welfare performance of cities is characterized by the “J” shape of increasing marginal effect, and the spatial spillover effect on the ecological welfare performance of neighboring cities is the inverted “U” shape of inhibiting first and then promoting later. The mechanism test shows that the development of digital economy can enhance the ecological welfare performance of cities through the marginal incremental promotion of green technological innovation in local and neighboring cities and has a positive spatial spillover effect. The development of digital economy can have a direct U shape effect on local ecological welfare performance by influencing factor allocation efficiency and energy utilization efficiency. It also has an inverted U-shaped spatial spillover effect. Environmental regulation has an inverted U-shaped moderating effect on the local eco-welfare performance affected by the digital economy. As the level of rural revitalization increases, it produces a U-shaped moderating effect of inhibiting. Heterogeneity analysis reveals that digital economy development has a more significant facilitating effect and a positive spatial spillover effect on the ecological welfare performance of cities in central China.DiscussionThis paper will provide a reference for the synergistic optimization of digital economy development and ecological welfare performance among regions. The findings of the study will promote the development of digital economy and accelerate the realization of the goal of “Beautiful China”.

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“…Environmental innovation carries substantial practical value. At a macro level, it reduces carbon emissions [ 1 ], supports carbon neutrality [ 2 , 3 ], bolsters economic and environmental sustainable sustainability [ 4 , 5 ], and enhances ecological well-being within society [ 6 , 7 ]. At a micro level, it equips firms to respond to government environmental regulations and stakeholder green demands, positively impacting firms' environmental legitimacy and market valuation [ 8 ].…”

Section: Introductionmentioning

confidence: 99%

Administrative monopoly regulation and environmental innovation: An analysis based on China's asymmetric market structure

Zhu

2024

Heliyon

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Innovation policy and ecological welfare performance: evidence from a quasi-natural experiment of China

Cited by 9 publications

References 74 publications

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Nonlinear spatial impacts of the digital economy on urban ecological welfare performance: evidence from China

Administrative monopoly regulation and environmental innovation: An analysis based on China's asymmetric market structure

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