Green production innovation and green craft innovation effects on relationship between environmental corporate social responsibility and corporate value in China
Since the introduction of increasingly strict environmental protection laws in China, organisations and corporations have attached great importance to it. Encouraging companies to adhere to these stringent regulatory requirements and truly assume environmental responsibility is an urgent issue of...
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| Main Author: | |
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| Format: | Thesis |
| Language: | English |
| Published: |
2022
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| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/114092/1/114092.pdf |
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| Summary: | Since the introduction of increasingly strict environmental protection laws in
China, organisations and corporations have attached great importance to it.
Encouraging companies to adhere to these stringent regulatory requirements
and truly assume environmental responsibility is an urgent issue of concern to
the government and companies’ board of directors. Therefore, as a solution to
this urgent problem, it is particularly important to study the moderating effect of
green innovation on the relationship between environmental corporate social
responsibility (ECSR) and corporate value.
This study adopted the theoretical bases of the stakeholder theory and resourcebased
theory to, first, examine the effect of ECSR dimensions (environmental
production consciousness, eco-friendly production, and green management) on
corporate value among listed companies in China. Second, this study evaluated
the moderating effects of green production innovation and green craft innovation
between ECSR and corporate value among these companies. Empirical analysis
was conducted using panel data of the listed companies in China from 2015 to
2020. The results showed that the effects of the three ECSR dimensions
(environmental production consciousness, eco-friendly production, and green
management) on corporate value are statistically significant, but cannot be
regarded as positive or negative. Green production innovation was found to
moderate the effects of the three ESCR dimensions on corporate value.
However, green craft innovation only exhibited a moderating effect between two
ECSR dimensions and corporate value. This study’s findings fill the research
gap in the fields of ECSR and enterprise green innovation and broaden the
perspective of the sustainable development literature. The findings are also of
great significance to the government for the implementation of environmental
protection strategies and local economic development. Additionally, it is relevant
to businesses in considering their environmental strategy. |
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