Strategic or substantive innovation? -The impact of institutional investors' site visits on green innovation evidence from China

Jiang, Li; Bai, Yu

doi:10.1016/j.techsoc.2022.101904

Cited by 128 publications

(72 citation statements)

References 43 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…This is in the context of expanding environmental pressures from different stakeholders, who exert different levels of pressure on firms to accomplish their environmental responsibilities, including green innovations. Firms must take on these environmental responsibilities to achieve acceptance from the various stake-holders (Jiang & Bai, 2022). Furthermore, improvements in productivity and innovation can increase firm value (Rosenbusch, Rauch & Bausch, 2013), including innovation, which is related to the environment where GIis one of the keys to increasing the competitive advantage of a firm, while at the same time possibly also increasing firm value and firm performance (Agustia, 2019;Ar, 2012;Sezen & Cankaya, 2013).…”

Section: Green Innovation and Firm Performancementioning

confidence: 99%

Does green innovation have an important role in the effect of board gender diversity and firm performance?

Mahsina

Agustia²

2023

View full text Add to dashboard Cite

Purpose: This research is motivated by the development of the debates on the role of board gender diversity and green innovation on firm performance. This study aims to investigate the mediating role of green innovation on the effect of board gender diversity and firm performance.Design/methodology/approach: This research employs regression analysis. The dataset using samples of 518 public listed companies on the Indonesia Stock Exchange over the period of 2017–2019.Findings: Based on 1,554 firm-year observations for the period of 2017 to 2019, the results revealed that the presence of board gender diversity had a negative effect on green innovation and the relationship between green innovation and firm performance was insignificant. However, we found that board gender diversity showed a positive effect on firm performance. More importantly, green innovation is not an essential factor in the relationship between board gender diversity and firm performance.Research limitations/implications: This research used only sample companies in a single country, therefore, the theory implication might apply to emerging countries with similar conditions (Indonesia). Future research needs to do more in more samples with multiple countries. Also, future research might apply with others corporate governance characteristics variables.Practical implications: Our result findings, first, can be used to support the company to implement the alternative of the low cost of green innovation. Second, this paper can be used to give insight for the government of Indonesia in supporting the business-based environment by strengthening the regulation on the environmental aspect, provide the incentives for companies with green innovation implementation.Social Implications: This paper’s result can be used as a reference to enhance women’s participation in the board’s firm. Furthermore, this study also brings the changes of the community behavior to use and consume the product with green and environmental concerns.Originality/value: Our study contributes to the literature in many ways, first, on gender literature that the presence of female directors on board is still proven to have more commitment to improve the firm performance. Second, the findings also provide an important insight of green innovation’s role in the relationship between board gender diversity and firm performance that it is still a controversial issue, where green innovation is not an important factor in the relationship of gender to firm performance improvement.

show abstract

Section: Green Innovation and Firm Performancementioning

confidence: 99%

Does green innovation have an important role in the effect of board gender diversity and firm performance?

Mahsina

Agustia²

2023

View full text Add to dashboard Cite

show abstract

“…Additionally, in terms of economic benefits, socially responsible firms can earn more wealth for investors through reputation and competitive advantages (Petersen & Vredenburg, 2009). Therefore, to achieve the goal of maximizing portfolio value, common institutional ownership will use governance advantages to motivate firms to engage in green innovation and actively fulfill their social responsibility (Jiang & Bai, 2022; Yan, 2021), and it may even take their green innovation level as one of the reference criteria for reducing its holdings. In this case, when common institutional ownership sells stocks based on private information or liquidity demand, it often takes the lead in selling firms lagging in green innovation.…”

Section: Further Researchmentioning

confidence: 99%

“…Although green innovation helps firms reduce compliance costs, gain competitive advantages, and increase firm value (Qiu et al, 2020), it also reduces environmental pollution and improves environmental performance (Castellacci & Lie, 2017), which provides a win-win situation for both the economy and society. Therefore, common institutional ownership, which has rich professional knowledge and investment experience, is highly interested in firms' green innovation and even urges firms to carry out green innovation through site visits (Jiang & Bai, 2022). In this case, when common institutional ownership sells stocks based on private information or liquidity demand, it often takes the lead in selling nonperforming assets, thereby providing "signals" to identify the quality of assets and increase the downside risk of the share price (Edmans et al, 2019).…”

Section: Research Hypothesismentioning

confidence: 99%

Green innovation peer effects in common institutional ownership networks

Feng

2022

Corp Soc Responsibility Env

View full text Add to dashboard Cite

As an important breakthrough in coordinating economic, social, and ecological benefits, green innovation has received wide attention from governments, firms, and the public. However, existing studies mainly explored the economic factors influencing firms' green innovation while neglecting social factors. This study took common institutional ownership as the research perspective to explore whether firms' green innovation decisions are affected by their peers. Using a sample of Chinese A-share listed firms from 2003 to 2019, this paper found that firms imitate their peers' green innovation in common institutional ownership networks and exhibit green innovation peer effects. Mechanism testing revealed that "voting with hands" through common institutional ownership helps firms obtain green innovation information (informationbased imitation), while "voting with feet" through common institutional ownership helps firms maintain a competitive awareness of green innovation (rivalry-based imitation), thereby contributing to green innovation peer effects in common institutional ownership networks. Heterogeneity analysis showed that firms with greater financing constraints and lower levels of risk-taking are more likely to imitate their peers' green innovation. Moreover, firms only regard peers with similar industry status and identical property rights as imitation targets in common institutional ownership networks, thereby following "the imitation law of closer preference." An analysis of economic consequences revealed that green innovation peer effects in common institutional ownership networks are not strategic behaviors of "quantity over quality," with imitation contributing to improving firm value. This paper enriches existing research on the influencing factors of green innovation and provides a new reference for promoting sustainable development.

show abstract

“…Under this pressure, China's dual carbon targets call for peaking carbon emissions by 2030 and achieving carbon neutrality by 2060. Therefore, in order to achieve the goals of economic efficiency and sustainable development, companies need to balance the process of innovation with carbon emission reduction, and green innovation is considered by manufacturing and energy companies as the key factor to solving the dilemma of economic growth and carbon emission reduction (Jiang and Bai, 2022). As the main body of energy consumption and greenhouse gas emissions, enterprises choose the green development strategy and actively promote green technology innovation under the pressure of government environmental regulation.…”

Section: Introductionmentioning

confidence: 99%

Transactive memory system and green innovation: a cross-level mediation of social network

Yao

Cen²,

Hao³

2022

IMDS

View full text Add to dashboard Cite

PurposeThe aim of this study was to investigate the impact of the transactive memory system (TMS) on green innovation and examine the mediation role of the social network at all hierarchical levels.Design/methodology/approachThree hypotheses were examined by performing regression analyses on survey data from manufacturing firms in China. Especially, the nested sets of data from 389 individual observations nested in 53 work teams, including individual level and collective level have been investigated.FindingsThe study results show that the TMS has a positive effect on green innovation. Furthermore, the results indicate that at the team level, structure holes' mediation in this relationship is stronger than degree centrality; at the individual level, weak ties mediation in the relationship of specialization and green innovation is stronger than strong ties, conversely, strong ties mediation in the relationship of credibility and green innovation is stronger than weak ties.Originality/valueThis study expands previous research by highlighting the significance of multilevel social network elements in the context of the TMS and sustainable development and enriches the present research on green innovation.

show abstract

Strategic or substantive innovation? -The impact of institutional investors' site visits on green innovation evidence from China

Cited by 128 publications

References 43 publications

Does green innovation have an important role in the effect of board gender diversity and firm performance?

Does green innovation have an important role in the effect of board gender diversity and firm performance?

Green innovation peer effects in common institutional ownership networks

Transactive memory system and green innovation: a cross-level mediation of social network

Contact Info

Product

Resources

About