The Impact of Media Attention on Enterprises’ Green Technology Innovation

Abstract

Using the A-share industrial companies from 2015~2019 as samples, this paper takes financing constraints as the intermediary variable and the nature of enterprise property rights as the moderating variable to explore the impact of different types of media attention on enterprises' green technology innovation. The empirical results show: ①Media attention can promote the green technology innovation of enterprises. Total media attention, eight mainstream media attention, paper media attention, and online media attention can significantly improve enterprises' green technology innovation level. ②Financing constraints play a part of the intermediary role between the eight mainstream media attention and green technology innovation, while the intermediary role between total media attention, paper media attention, online media attention and green technology innovation is not significant. ③The nature of corporate property rights positively regulates the relationship between total media attention, eight mainstream media attention, paper media attention, online media attention and green technology innovation. This study contributes to a more profound and comprehensive understanding of the influence of the media on corporate green innovation behavior, and provides experience and reference for the research and practice of corporate governance and innovation effects that the media pay attention to.