Abstract
This study examines the impact of corporate innovation investment on environmental sustainability in oil and gas companies in the United States of America. We have compiled the empirical data set of 90 major and renowned companies from 2009 to 2019. To examine the cause-and-effect relationship between the specific factors, we applied the generalized method of movement, and the statistical result reflected a significant and positive relationship between corporate innovation investment and environmental sustainability. This indicates that the positive inclusion of intangible assets leads to motivation in innovation that enhances the context of environmental sustainability. Managerial stock incentives significantly and positively moderate the relationship between corporate innovation investment and environmental sustainability. Enterprises should not only consider their management stock mechanism during the formulation of an innovation strategy but also design the contract according to the innovation level of the enterprise to determine the level of managerial incentives. This study provides insight regarding the significant role of corporate innovation, which establishes a way forward to environmental sustainability.
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