What is it about?
The main objective of this study is to explore how ESG disclosure effectively promotes technological innovation capabilities (TIC) and also in different industries (green vs. high-tech). Further, examine the role of financing constraint (FC) in the relationship between the ESG disclosure and TIC.
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Why is it important?
The findings show that the ESG disclosure has a significant relationship with corporate innovation indicators (OTI, STI, NSTI) and play a significant role in promoting TIC at different levels of corporate innovation (2) ESG disclosure of non-green (high-tech) industry is more effectively promote TIC than green (non-high tech) industry (3) ESG disclosure can promote corporate innovation by reducing the level of corporate financing constraints, and FC has a partial intermediary role between ESG and TIC.
Perspectives
Though existing studies have found that the financing structure can affect the innovation activities of enterprises, its internal mechanism is not clear, especially the mechanism of sustainable development performance remains to be explored, providing broader space and practical reference for future research in related fields.
Dr Muhammad Usman Khurram
Zhejiang University
Read the Original
This page is a summary of: ESG disclosure and technological innovation capabilities of the Chinese listed companies, Research in International Business and Finance, April 2023, Elsevier,
DOI: 10.1016/j.ribaf.2023.101974.
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