Abstract
This study investigates the impact of green technology innovation on energy consumption and corporate value in China's chemical industries, utilizing data from 133 A-share listed enterprises over the period of 2013-2022. Data on green technology innovation are sourced from the Chinese Research Data Services (CNRDS) Platform, while energy consumption data are obtained from listed companies' annual reports, social responsibility reports, and websites. Corporate ESG data is sourced from Huazheng ESG rating, and other data are obtained from China Stock Market & Accounting Research Database (CSMAR) and the National Statistics Bureau. Employing a two-way fixed effects model, this finds that green technology innovation mitigates energy consumption, and boosts corporate value of Chinese A-share listed enterprises of chemical industries. The study ensures the robustness of its findings through 2SLS analysis, using green patent applications as instrumental variables. The moderating effects of ESG disclosure are found significant to strengthen the influence of green technology innovation on energy consumption and corporate value. These findings offer valuable insights for policymakers and stakeholders in shaping strategies to promote sustainability and competitiveness in the chemical industry.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
