Management executive power and corporate green innovation——Empirical evidence from China's state-owned manufacturing sector

Gao, Kai; Wang, Ling; Liu, Tingting; Zhao, Huaqing

doi:10.1016/j.techsoc.2022.102043

Cited by 26 publications

(5 citation statements)

References 73 publications

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“…The CEO holds significant power over company decisions, financial information release, board composition, and performance assurance (Chou & Chan, 2018). Similarly, research indicates that influential CEOs significantly influence board composition (Baldenius et al, 2014), investment efficiency Chowdhury et al (2023), green innovation Gao et al (2022), performance evaluation Dikolli et al (2018), mergers and acquisitions Fralich & Papadopoulos (2018), and earnings management (Baker et al, 2019). These studies show that the effects of powerful CEOs may be closely linked to their discretion (Breuer et al, 2022).…”

Section: Introductionmentioning

confidence: 92%

The Effect of CEO Power on Earnings Management of Chinese-Listed Firms The Moderating Role of Audit Committee Effectiveness

Zhang,

Lok

2024

IJARAFMS

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This research investigates the impact of CEO power on earnings management within the framework of agency theory, considering the moderating role of audit committee effectiveness. By constructing panel data of China's listed companies during 2010-2022 and conducting empirical analysis, the GMM regression results of 11,861 samples reveal that powerful CEOs tend to implement more earnings management strategies. The research confirms agency theory's hypothesis, revealing China's audit committee effectively regulates the relationship between CEO power and earnings management. In addition, alternative measures are used in this study, and the results show that the model is robust. These results have implications for investors, managers, analysts, and policy makers, providing significant lessons about reporting quality. In addition, to test the robustness of the model, the core variables are replaced in this study, and the results show that the model is robust.

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Section: Introductionmentioning

confidence: 92%

The Effect of CEO Power on Earnings Management of Chinese-Listed Firms The Moderating Role of Audit Committee Effectiveness

Zhang,

Lok

2024

IJARAFMS

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“…( 2 indicator are: First, Baidu is the largest Chinese search engine with wide coverage and high data availability; Second, the public is more and more inclined to pay attention to environment-related issues by web search than by traditional petition. Control Variables: Corporate green innovation is also affected by many external factors, and we control for the effects of firm size (Size), debt ratio (Debt), firm performance (ROE), growth (Growth), firm age (Age), institutional investor ownership (Insti), government subsidy for innovation (Subsiby), operating cash flow adequacy (OCF), capital density (CD), equity concentration (CR1), board size (Board), board independence (Indep), and duality (Duality) based on existing studies [38,39,64]. In addition, the effects of year and industry dummy variables are controlled.…”

Section: Financialization Environmental Regulation and Green Innovationmentioning

confidence: 99%

“…In addition, research on the factors influencing corporate green innovation from the executive characteristics and cognitive perspectives focuses on examining the impact of differences in characteristics and cognitive differences of executive teams and core members on corporate green innovation. Specifically, studies under the executive characteristics perspective have examined the impact of executive team experience, management power, and CEO political connection on green innovation [37][38][39]. Besides, a few studies have also explored the impact of executive cognitive differences on corporate green innovation [40].…”

Section: Introductionmentioning

confidence: 99%

Financialization, Heterogeneous Environmental Regulation, and Corporate Green Innovation: Evidence from China

Li,

Ke,

et al. 2024

Pol. J. Environ. Stud.

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Along with the promotion of China's green development strategy and the policy of financial services to the real economy, how financialization affects corporate green innovation becomes an urgent issue to be explored. Using Chinese A-share listed enterprises from 2007 to 2020, this study empirically analyzes the impact of financialization on corporate green innovation and its underlying mechanism, and the moderating effect of heterogeneous environmental regulation is examined. Results show that financialization significantly inhibits corporate green innovation, and the command-and-control environmental regulation is more effective in weakening the inhibiting effect of financialization on corporate green innovation than market-incentivized and public-participation environmental regulation. Moreover, mechanism analyses show that financialization inhibits corporate green innovation mainly by affecting innovation input and financing constraints. Extended analyses show that the inhibiting effects of financialization on strategic and substantive green innovation of enterprises are not significantly different, but the inhibiting effect of financialization on independent green innovation is significantly higher than that on joint green innovation. In addition, the inhibiting effect of financialization on green innovation is more significant in non-heavy polluting industries and regions with high regulatory pressure. This study reveals the negative effects of financialization on corporate green innovation from a micro-finance perspective, which not only helps to improve the internal investment decisionmaking mechanism of companies and the regulatory system of corporate financialization, but also has some insights to guide the practice of green innovation of real enterprises and promote the green transformation of economic development mode.

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“…However, institutional investors play a corporate governance and oversight role in addition to providing capital to the company. Managers choose investment projects with high short-term returns and ignore corporate innovation activities owing to their tenure performance considerations, which is not conducive to the development of corporate innovation activities and the improvement of innovation quality (Gao et al, 2022). By holding partial ownership of the firm through shareholding, institutional investors can play an internal and external monitoring role through participation in shareholder meetings and site visits and play an effective management role in dealing with short-sightedness and corporate governance (Cornett et al, 2007;Wang & Lv, 2023), which can facilitate the development of innovation activities and strengthen the management of the innovation process (Jiang & Yuan, 2018).…”

Section: Iis and Corporate Innovation Qualitymentioning

confidence: 99%

Institutional investor shareholding and the quality of corporate innovation: Moderating effects based on internal and external environment

Liu,

Wang,

Tong

et al. 2023

Manage Decis Econ

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Improving the quality of enterprise innovation is a key path to implementing the innovation‐driven development strategy and thus promoting high‐quality economic development. Using a sample of Chinese A‐share listed companies from 2011 to 2019, this paper empirically examines the impact of institutional investor shareholding (IIS) on corporate innovation quality. The study finds that (1) IIS has a significant effect on the quality of corporate innovation, and it can also improve the quality of corporate innovation by increasing corporate financial support and promoting the efficiency of corporate management. (2) Heterogeneous IISs have different impacts, with pressure‐defensive IIS contributing more significantly to the quality of corporate innovations than pressure‐sensitive IIS. (3) The internal and external environments play an important moderating role. External market competition incentives and supervision means play a positive moderating role; internal financing constraints and business risks play a negative moderating role.

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Management executive power and corporate green innovation——Empirical evidence from China's state-owned manufacturing sector

Cited by 26 publications

References 73 publications

The Effect of CEO Power on Earnings Management of Chinese-Listed Firms The Moderating Role of Audit Committee Effectiveness

The Effect of CEO Power on Earnings Management of Chinese-Listed Firms The Moderating Role of Audit Committee Effectiveness

Financialization, Heterogeneous Environmental Regulation, and Corporate Green Innovation: Evidence from China

Institutional investor shareholding and the quality of corporate innovation: Moderating effects based on internal and external environment

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