{"title":"Revisiting the relationship between ESG, institutional ownership, and corporate innovation: An efficiency perspective","authors":"Qiang Li, Minglai Li, Lin Zhang","doi":"10.1002/csr.2937","DOIUrl":null,"url":null,"abstract":"<p>This paper investigates how environmental, social, and governance (ESG) efficiency impacts corporate innovation, highlighting its role as a crucial indicator of resource utilization within firms. Analyzing data from A-share listed companies in China between 2009 and 2021, we find that ESG efficiency levels are positively correlated with corporate innovation outputs. This indicates that higher ESG efficiency contributes to greater innovation. Our result also reveals that the relationship between ESG efficiency and corporate innovation is moderated by the firm's ownership structure. Specifically, the negative moderating effects of ownership are more pronounced in regions with lower economic development or stringent environmental regulations. Technology-based firms are particularly affected, exhibiting greater vulnerability to these negative effects. These findings confirm that ESG efficiency is a significant mechanism linking ESG practices to enhanced innovation capabilities. By exploring both the efficiency aspects of ESG performance and the institutional factors influencing ESG-innovation dynamics, our study makes a notable contribution to the literature, offering new insights into how effective ESG practices can strategically drive innovation within firms.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"31 6","pages":"6504-6525"},"PeriodicalIF":8.3000,"publicationDate":"2024-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.2937","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Corporate Social Responsibility and Environmental Management","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/csr.2937","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
This paper investigates how environmental, social, and governance (ESG) efficiency impacts corporate innovation, highlighting its role as a crucial indicator of resource utilization within firms. Analyzing data from A-share listed companies in China between 2009 and 2021, we find that ESG efficiency levels are positively correlated with corporate innovation outputs. This indicates that higher ESG efficiency contributes to greater innovation. Our result also reveals that the relationship between ESG efficiency and corporate innovation is moderated by the firm's ownership structure. Specifically, the negative moderating effects of ownership are more pronounced in regions with lower economic development or stringent environmental regulations. Technology-based firms are particularly affected, exhibiting greater vulnerability to these negative effects. These findings confirm that ESG efficiency is a significant mechanism linking ESG practices to enhanced innovation capabilities. By exploring both the efficiency aspects of ESG performance and the institutional factors influencing ESG-innovation dynamics, our study makes a notable contribution to the literature, offering new insights into how effective ESG practices can strategically drive innovation within firms.
期刊介绍：
Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas.
The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.
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