Work

Green institutional investors and corporate green innovation: Evidence from Chinese listed companies

Year: 2025

Type: article

Abstract: Based on an analysis of data from Chinese A-share listed companies from 2010 to 2022, our study explores the impact of green institutional investors on corporate green innovation. The findings indicate that green institutional investors significantly enhance firms' green innovation by alleviating financing constraints and improving internal control quality. Furthermore, executive environmental awareness, industry competition, and media attention positively moderate this relationship. Additional analysis reveals that green institutional investors not only stimulate exploitative green innovation but also more strongly drive exploratory green innovation, with no evidence of superficial "greenwashing" behavior.

Source: International Review of Economics & Finance

DOI: 10.1016/j.iref.2025.104476

Authors: Shunlin Zhu, Liping Liu

Institution: Ningbo University

Language: English

Topic: Sustainable Finance and Green Bonds

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $1,930