Abstract
Green innovation is a key path for firms to balance economic development and environmental protection. Based on stakeholder theory and a resource-based view, this study constructs a moderated mediation model to explore the impact of stakeholder pressure on green innovation and conducts an empirical analysis based on 225 questionnaires collected from manufacturing firms in Shandong Province, China. The results demonstrated that both regulatory pressure and customer pressure positively impact green process innovation and green product innovation. Knowledge exchange mediates the relationship between stakeholder pressure and green innovation. However, the moderating effect of environmental management systems on the impact of stakeholder pressure on green innovation through knowledge exchange is not significant.
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