Abstract
The upper echelons theory is utilized to establish how CEO’s attributes affect firm’s technological innovation decisions. The extant literature has largely ignored the impacts of CEO media exposure. An unbalanced panel data analysis is used to examine the effects of CEO media exposure on Chinese polluting firm’s green technological innovation. It is illustrated that CEO media exposure generally enhances Chinese polluting firms’ green technological innovation decisions. In addition, we find that firms with state ownership and environmental regulations all moderate positively the relationship between CEO media exposure and green technological innovation. The research suggests that CEO media exposure appears to be a stimulus to firm’s green technological innovation decisions.
Highlights
From an upper echelons perspective, chief executive officers’ (CEOs) behaviors influence corporate policy and play an important role in driving firm’s behaviors [1]
We use an unbalanced panel data regression analysis to analyze the effects of CEO media exposure on the green technological innovation decision
Firms with high level CEO exposure have a higher number of green inventions than low level peers (0.431 vs. 0.35; p < 0.05 for the difference); firms with high level rule have more green inventions than firms with low level (0.666 vs. 0.338; p < 0.01); non-state-owned enterprises (SOEs) have fewer green inventions than SOEs (0.587 vs. 0.283; p < 0.01). e results of green utility models are similar to
Summary
From an upper echelons perspective, chief executive officers’ (CEOs) behaviors influence corporate policy and play an important role in driving firm’s behaviors [1]. Under the hierarchical organizational structure of modern enterprises, the investment decision-making behavior of enterprises is greatly influenced by CEO’s will [10] and the firm’s green technological innovation decision-making behavior is pronounced to a great extent by top management, especially CEO [11]. It is CEO who embeds his will into the enterprises that makes the enterprise show distinctive characteristics. To fill the gap in the literature, this study sheds light on how CEO media exposure affects green technological innovation decision
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