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Does Business Group Matter for the Relationship between Green Innovation and Financial Performance? Evidence from Chinese Listed Companies
- Source :
- Sustainability; Volume 13; Issue 23; Pages: 13204, Sustainability, Vol 13, Iss 13204, p 13204 (2021)
- Publication Year :
- 2021
- Publisher :
- Multidisciplinary Digital Publishing Institute, 2021.
-
Abstract
- Green innovation has been an important approach for firms to achieve sustainable development in recent years; however, empirical studies on the relationship between green innovation and corporate performance have delivered mixed results. In particular, business groups (BG), which are a critical organizational form in many economies and are proven to have unique advantages for conducting green innovation, have attracted less scholarly attention. Therefore, in this study, we adopt the perspective of a business group and investigate how green innovation by BG-affiliated firms affects their financial performance, and we also explore the moderating effect of BG’s internal supply chain partnership. Based on a sample of 202 listed manufacturing enterprises in China from 2013 and 2017, the research results show that green innovation significantly improves the financial performance of firms, and this positive effect is more prominent in BG-affiliated firms than in non-BG firms. Further research found that BG-affiliated firms’ supply chain (suppliers and customers) concentration and trust positively moderate the relationship between green innovation and financial performance. This research concerns the particularity of business groups’ green innovation practices in China, which not only contributes to the research on the effect of BG’s green innovation on corporate performance in an emerging market context but also deepens our understanding of the role of its internal supply chain partnership from the perspective of concentration and trust.
- Subjects :
- Sustainable development
Environmental effects of industries and plants
Renewable Energy, Sustainability and the Environment
Supply chain
Geography, Planning and Development
TJ807-830
Context (language use)
Management, Monitoring, Policy and Law
TD194-195
supply chain partnership
Renewable energy sources
Environmental sciences
financial performance
Empirical research
Corporate group
green innovation
General partnership
GE1-350
Business
business group
China
Emerging markets
Industrial organization
Subjects
Details
- Language :
- English
- ISSN :
- 20711050
- Database :
- OpenAIRE
- Journal :
- Sustainability; Volume 13; Issue 23; Pages: 13204
- Accession number :
- edsair.doi.dedup.....0c6788bca902cbfdfd53e150cd4358d7
- Full Text :
- https://doi.org/10.3390/su132313204