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- W4362634443 abstract "Green innovation is crucial for modern firms to achieve green transformation in the context of sustainable development. Although some studies have shed light on the determinants of green innovation, little is known about whether ambient environmental factors play a role. Using data of Chinese listed firms from 2007 to 2019, we explore the association between air pollution and corporate green innovation. We find that ambient air pollution in firms’ headquarters is positively related to subsequent green innovation (hereafter, the AQI-GI relationship), consistent with stakeholder theory. This relationship is stronger for firms with more analyst reports, corporate site visits, and institutional ownership. Moreover, the AQI-GI relationship is robust based on the exogenous variation of air pollution extracted by strong wind and rainfall. Environmental protection law revision has a positive effect on the AQI-GI relationship. These findings suggest that firms actively respond to surrounding air conditions by implementing green innovation." @default.
- W4362634443 created "2023-04-07" @default.
- W4362634443 creator A5012560440 @default.
- W4362634443 creator A5049432232 @default.
- W4362634443 date "2023-07-01" @default.
- W4362634443 modified "2023-09-23" @default.
- W4362634443 title "Air pollution and corporate green innovation in China" @default.
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- W4362634443 doi "https://doi.org/10.1016/j.econmod.2023.106305" @default.
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