Search Results (159)

This study examines how green credit policies, specifically the green credit guidelines (GCGs) implemented in 2012, influence corporate sustainable innovation. This study employs a quasi-natural experiment approach, utilizing data from Chinese listed companies between 2005 and 2023, to examine the differential impact of the GCGs on high-polluting enterprises versus energy-efficient enterprises. The study uses a Difference-in-Differences (DID) methodology to explore how policy-induced changes in financing conditions affect firms’ innovation behaviors, particularly in terms of green patent applications. This study uses a mechanism to understand the role of R&D investment and access to long-term financing in driving these changes. And this study considers heterogeneity across firm ownership types and industry competition to investigate the varying effects of the GCGs. By identifying the causal pathways through which green credit policies influence innovation, this study contributes to the understanding of how environmental policies shape corporate behavior and innovation outcomes. Full article

Cultivating a green innovation-oriented work climate exerts a positive effect on employees’ participation in green knowledge sharing and other co-creation behaviors. Previous studies analyzed the influential factors of green value co-creation from the perspective of green motivation and green dynamic capabilities, but there is a lack of research on the antecedents of green value co-creation from the perspective of green innovation climate. Therefore, based on the social information processing theory, this paper make an in-depth research on the impact mechanism of green innovation climate on employee green value co-creation, through perception of corporate social responsibility and employees’ sense of belonging. A questionnaire survey was conducted on Chinese enterprises implementing green innovation, and 337 valid questionnaires were collected. The effect mechanism of green innovation climate on employees’ green value co-creation was analyzed by the hierarchical regression analysis method. Process regression analysis was used to explore the moderating effect of inclusive leadership. The result of the research shows that green innovation climate has a significant relation to employees’ sense of belonging, perception of corporate social responsibility and employees’ sense of belonging. Perception of corporate social responsibility and employees’ sense of belonging have mediating effects on the relations between green innovation climate and employees’ green value co-creation. Inclusive leadership can moderate the relationship between perception of corporate social responsibility and employees’ green value co-creation. In theory, from the perspectives of green innovation climate and inclusive leadership, it further enriches the research on the driving factors of green value co-creation. In practice, It provides a theoretical reference for enterprises to utilize the strategy of green innovation climate and inclusive leadership to promote green value co-creation of enterprises effectively. Full article

Enhancing corporate green innovation is a critical component of advancing sustainable transformation and addressing escalating climate-related risks. From a cognition-to-behavior perspective, this paper constructs a climate risk perception index based on annual report texts from Chinese A-share listed firms from 2003 to 2023 and examines its impact on corporate green innovation, as well as the underlying mechanisms. The study finds that stronger climate risk perception significantly promotes both the quality and quantity of corporate green innovation. Mechanism analyses show that this effect operates through alleviating financing constraints, increasing research and development (R&D) investment, and improving environmental, social, and governance (ESG) performance. Heterogeneity tests further indicate that the positive impact is more pronounced among firms located in eastern China and among state-owned firms. Regarding scale heterogeneity, climate risk perception boosts the quantity of green innovation more effectively in large firms and boosts the quality of green innovation more effectively in small firms. This study provides micro-level evidence and theoretical insights into corporate green transformation behaviors under climate uncertainty. Full article

In the context of global climate change and carbon-neutrality goals, carbon taxes and carbon tariffs have become key policy tools for regulating corporate emissions. However, most existing studies examine these policies in isolation and overlook firms’ behavioral responses under their joint implementation, especially with product heterogeneity. This study analyzes production and emission-reduction decisions of two-country manufacturers under carbon taxation and further investigates corporate behavior and social welfare outcomes when both carbon taxes and carbon tariffs are imposed. The results show that carbon taxes enhance emission-reduction efforts, though with diminishing marginal effects. Moderate carbon tariffs further motivate exporting firms to reduce emissions, while overly high tariffs may induce market exit, particularly for high-quality manufacturers. Consumer preferences also interact with policy effects: stronger preferences for high-quality products encourage firms to expand domestic markets and increase green investments, whereas weaker preferences shift focus toward exports. Social welfare responds asymmetrically, moderate tariffs improve environmental performance, while excessive tariffs lead to trade distortions and welfare losses. Overall, this study highlights nonlinear and heterogeneous firm responses under combined carbon policies, offering insights for policy design and corporate strategy. Full article

Amid the rapid growth of the digital economy and increasing global competition, the role of digital–intelligent technologies in enabling corporate internationalization has gained significant attention. From the perspective of “digital–intelligent synergy,” this study constructs a mediated moderation model to explore the impact mechanism of digital–intelligent synergy on corporate internationalization. The findings indicate that data assets, artificial intelligence, and digital–intelligent coupling coordination significantly enhance overseas revenue. Green technology innovation mediates this relationship, while investor stability exerts an asymmetrical moderating effect. This strengthens both the direct effect of digital–intelligent synergy on internationalization and its impact on green innovation, though not the path from green innovation to international performance. Further analysis indicates that self-use data assets significantly promote firm internationalization, while transactional data assets do not. Both AI technology and applications markedly enhance overseas expansion. For digital–intelligent coupling coordination, the level of coordination—not merely coupling intensity—positively affects internationalization level. By integrating green innovation and investor behavior perspectives, this study reveals the complex mechanisms through which digital–intelligent synergy empowers internationalization, offering theoretical and policy insights for corporate global expansion in the digital–green transition era. Full article

Environmental Education (EE) is increasingly relevant in the current context of environmental crises, requiring approaches that integrate Human Ecology (HE) and Environmental Psychology (EP) due to understanding the interdependent relationship between ecological and human systems. This study emphasizes corporeity as a fundamental dimension for reconnecting humans with nature and fostering ecological awareness. The study aimed to develop and evaluate a transdisciplinary intervention project based on bodily experiences with children and adolescents in a Brazilian public school, aiming to improve their connectedness with nature and ecological values. A diagnostic survey was conducted with 103 students aged 10–13 years, including open questions, and two instruments: the Inclusion of Nature in Self (INS) and the Values for Pre-adolescents scale (EVP). The results indicated that one 5th-grade class, which presented the lowest self-transcendence mean (4.07), was selected for pedagogical interventions. In the second stage, 20 students participated in workshops held in public parks and a school green area, combining sensory awareness and playful activities. The findings suggest that these experiences stimulated pro-environmental attitudes, including group care for nature, protective behaviors, and positive emotions such as peace, happiness, and freedom. Despite the small sample size, the results highlight the importance of strengthening embodied experiences in natural environments, increasing frequency and intensity to support the development of ecological values and deeper connectedness with nature. Full article

In recent years, organizations have increasingly promoted and integrated employees’ environmentally sustainable behaviors and practices as part of a strategic approach to enhance corporate reputation, demonstrate environmental stewardship, and respond to pressing ecological imperatives. This study explores the psychological factors that motivate employees’ intentions to engage in green behaviors within organizational settings, following the Theory of Planned Behavior (TPB). We extend the model by incorporating a conceptually multilevel perspective, examining antecedents at the organizational, team, and employee levels: perceived organizational support, perceived colleague support and workplace attachment. Data were collected from a sample of 286 public employees. Our findings indicate that, among the behavioral antecedents proposed by the TPB, only some were validated as significant predictors of employees’ intentions to engage in green behaviors within their organization. The results further show that each organizational, team, and employee level antecedent included in this study significantly influenced the constructs of the TPB. Implications and suggestions for future research are also discussed. Full article

In the face of increasingly severe global environmental challenges, corporate environmental information disclosure (CEID) has become a critical link connecting national ecological governance goals with firms’ green development practices. From the perspective of green signaling, this study examines whether government environmental concerns (GEC) in China incentivize CEID and the mechanisms underlying this effect. We theoretically elaborate the transmission pathways and moderating effects of GEC, and measure GEC and CEID indicators using text analysis of local government work reports and corporate annual reports. Based on a series of empirical tests on Chinese A-share listed firms from 2008 to 2023, we find that: (1) GEC can significantly enhance CEID by attracting green investors and fostering greater media scrutiny. (2) Green technological innovation exhibits a masking effect, which reveals a counterintuitive mechanism whereby stringent environmental regulation may divert innovation resources toward pollution control investments. (3) The impact of GEC is positively moderated by external volatility such as climate policy and market uncertainty and internal capabilities such as firms’ digital transformation. (4) Further heterogeneity analysis shows that GEC has a more significant impact on non-state-owned enterprises, enterprises in heavily polluting industries, and those in the mature or declining stage. This study provides a new theoretical lens for understanding the dynamic interplay between institutional pressure and corporate behavioral responses, and offers empirical insights for calibrating the intensity of GEC to maximize incentives for firms to engage in sustainable practices. Full article

Against intensifying climate risks, a paradox persists in green finance: high corporate awareness yet low green bond issuance. This study examines the impact of climate risk on green bond issuance using a final sample of 5958 bond issuances, which were issued by 469 unique A-share non-financial listed companies in China between 2016 and 2023. By integrating the Fogg Behavior Model (FBM) into a Motivation–Capability–Triggers framework and employing Logit and Karlson–Holm–Breen (KHB) methods, we investigate the underlying mechanisms. The baseline results show a positive link between climate risk and issuance likelihood, confirming a motivation-incentive effect. Mechanism analyses reveal significant negative mediation through financing constraints, green innovation, and environmental reputation, highlighting a capability-constraint effect. Heterogeneity analysis finds a stronger effect in non-state-owned firms, non-heavily polluting industries, and firms in pilot zones or central/western China, indicating that policy signals and resource endowments act as key triggers to synergize motivation and capability. Our findings offer valuable insights for policymakers in designing motivation-stimulating and capability-compensating intervention strategies to help firms balance economic and environmental objectives. Full article

The growing emphasis on environmental sustainability and green finance has intensified the need for effective corporate disclosures, particularly regarding biodiversity. Despite the increasing relevance of biodiversity in global investment strategies, there remains a significant research gap in understanding how corporate biodiversity information disclosure influences retail investors, particularly in emerging markets such as China. Based on this, in order to fill this research gap, this study conducts an empirical analysis using valid sample data from 464 retail investors in China and the structural equation modeling method. The results indicate that: (1) Corporate biodiversity information disclosure (CD) has a positive impact on investors’ investment confidence (IC) and investment willingness (IW). (2) Investors’ IC positively influences their IW. (3) Risk aversion (QA) weakens (negatively moderates) the effect of CD on enhancing investors’ IC. (4) QA also weakens (negatively moderates) the effect of CD on promoting investors’ IW. (5) Climate risk awareness (CA) positively moderates the effect of CD on enhancing investors’ IC. (6) CA also positively moderates the effect of CD on promoting investors’ IW. This study enriches relevant theories by emphasizing how psychological factors influence investment behavior and provides important insights for companies, policymakers, and financial intermediaries to promote sustainable investment practices. Full article

In the context of green transformation, climate change and its economic implications are attracting increasing attention. Based on the Trade-off Theory framework, this study examines how climate risk affects firms’ shadow banking activities in emerging markets. This study focuses on emerging market economies, using a panel dataset of Chinese A-share non-financial listed firms from 2007 to 2023 to systematically examine the relationship between climate risk and shadow banking activities, that is, financing conducted outside the formal banking system. The empirical findings reveal that climate risk significantly dampens the shadow banking activities of non-financial firms. Further mechanism analysis suggests that this effect operates through two key channels: the weakening of corporate resilience and adjustments in capital structure decisions. Moreover, the analysis uncovers heterogeneous impacts of climate risk on shadow banking, depending on the quality of information disclosure, industry characteristics, and the degree of financing constraints. This research provides new insights into the evolution of corporate financial behavior under climate risk and offers empirical evidence to support firms in optimizing their financial strategies and enhancing their financial risk management capabilities. Full article

Sustainable performance in green production hinges on collective employee engagement. While prior research has largely focused on the influence of sustainable leadership in fostering employee role behaviors and team relationship-oriented behaviors, this study delves into the critical role of taking charge behavior, which is related to the organization’s additional performance growth and long-term development. This study, grounded in the Conservation of Resources theory, explores how sustainable leadership encourages taking charge behavior through employee resilience as a mediator and colleague support as a moderator. Using the longitudinal method, data from 386 paired responses were collected from corporate employees across two time periods. Hypotheses were tested using hierarchical regression analysis, supplemented by path analysis to explore mediating and moderating effects. The findings indicate that sustainable leadership can enhance taking charge behavior by strengthening employee resilience, and in environments with robust colleague support, the impact of sustainable leadership on improving employee resilience is magnified, resulting in a more effective promotion of taking charge. This study contributes both theoretically and practically to the field of sustainable leadership. Full article

In recent years, with the emergence of the “greenwashing” problem caused by asset divestments by enterprises, whether green mergers and acquisitions can significantly curb this greenwashing behavior is a very worthwhile research question in the context of sustainable development becoming a long-term competitive strategy for enterprises. This paper analyzes the relevant data of A-share listings in China from 2014 to 2023 and concludes that corporate green mergers and acquisitions have a certain negative impact on ESG greenwashing through three mechanisms: reducing financing constraints, enhancing social reputation, and suppressing managerial shortsightedness. And this correlational negative impact has a stronger effect due to the business relationship between the acquiring and acquired companies, the strong regulatory intensity of the environment in which the acquired company is located, and the fact that the main acquiring company is in a first-tier city. This study not only breaks the inherent cognitive shackles of “greenwashing” opportunistic behavior in green mergers and acquisitions, the opposite of corporate asset divestment, but also provides theoretical support for companies to achieve long-term sustainable development through green mergers and acquisitions. Full article

Environmental sustainability in tourism and hospitality has emerged as a critical focus of Saudi Arabia’s Vision 2030, aligning with global Sustainable Development Goals (SDGs) and national priorities such as environmental stewardship, human health, and future economic diversification. This study examines how perceived leader favoritism influences non-green behavior among hospitality employees, exploring malicious envy as a mediator and perceived organizational injustice as a moderator. A cross-sectional survey was administered to 412 employees across five major hotels in Riyadh. Measures included validated scales for perceived leader favoritism, malicious envy, non-green behavior, and organizational justice. Structural equation modeling tested hypothesized relationships and moderation effects. Perceived leader favoritism was positively associated with non-green behavior (β = 0.39, p < 0.001) and malicious envy (β = 0.58, p < 0.001). Malicious envy mediated the favoritism–behavior link (indirect effect β = 0.17, p < 0.01). High perceptions of organizational injustice strengthened these effects, exacerbating environmentally harmful behaviors. Interpretation: The findings reveal that unfair leadership practices undermine corporate sustainability efforts by provoking negative emotions and unethical environmental actions. Managerial interventions to enhance fairness and mitigate envy are imperative for achieving SDG 12 (Responsible Consumption and Production) and SDG 13 (Climate Action), supporting Saudi Arabia’s goals in environmental sustainability, basic needs fulfillment, and future economies. Implementing justice-centered leadership programs can foster healthier organizational climates, promoting both employee well-being and ecological resilience. Full article

This study investigates the unintended consequences of China’s Green Finance Reform and Innovation Pilot Zones (GFRI) on corporate financialization (CF). Leveraging a Difference-in-Differences (DID) approach and panel data of listed firms in China, we find that GFRI significantly increases firms’ financialization levels. The effect is more pronounced among firms located in eastern regions, non-state-owned enterprises, those with lower ESG ratings, and management teams lacking financial expertise. Mechanism analysis suggests that the policy’s impact is driven by short-term speculative behavior, motivated by liquidity considerations and profit-seeking incentives. These findings reveal a potential misalignment between green finance policy goals and corporate responses, highlighting the importance of designing sustainability initiatives that minimize resource misallocation and support real-sector investment. Full article