Does environmental pollution liability insurance affect corporate green innovation? New evidence from China
The effect of the development of green finance (GF) on the green transformation of corporations has been a key research issue in recent years. This study is based on a list of companies insured under the environmental pollution liability insurance (EPI) announced by the Ministry of Ecology and Envir...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-12-01
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| Series: | Environmental Challenges |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2667010023001117 |
| _version_ | 1827581940590444544 |
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| author | Xiaogang Wang Yuantao Xie Yu Chen Yue Zhang |
| author_facet | Xiaogang Wang Yuantao Xie Yu Chen Yue Zhang |
| author_sort | Xiaogang Wang |
| collection | DOAJ |
| description | The effect of the development of green finance (GF) on the green transformation of corporations has been a key research issue in recent years. This study is based on a list of companies insured under the environmental pollution liability insurance (EPI) announced by the Ministry of Ecology and Environment (formerly the Ministry of Environmental Protection) in 2014 and 2015. Considering A-share listed companies in China as research samples and using the DID model, we investigate the impact of EPI on corporate green innovation (CGI). The results show that EPL can significantly promote the green innovation level of insured corporations, mainly reflected in two aspects of green invention patents and green utility model patents; this positive effect is more obvious in non-state-owned, heavily polluting, and patent-intensive corporations. These results hold after the robustness test. The mechanism analysis reveals that EPL promotes corporate green innovation by alleviating corporate financing constraints. This study provides new evidence for the role of GF in promoting green innovation and transformation in China. |
| first_indexed | 2024-03-08T22:44:30Z |
| format | Article |
| id | doaj.art-a3e175de08bc431e9bad7fb3023bcb5d |
| institution | Directory Open Access Journal |
| issn | 2667-0100 |
| language | English |
| last_indexed | 2024-03-08T22:44:30Z |
| publishDate | 2023-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Environmental Challenges |
| spelling | doaj.art-a3e175de08bc431e9bad7fb3023bcb5d2023-12-17T06:42:41ZengElsevierEnvironmental Challenges2667-01002023-12-0113100788Does environmental pollution liability insurance affect corporate green innovation? New evidence from ChinaXiaogang Wang0Yuantao Xie1Yu Chen2Yue Zhang3Corresponding author at: School of Insurance and Economics, University of International Business and Economics, Beijing, China.; School of Insurance and Economics, University of International Business and Economics, Beijing, ChinaSchool of Insurance and Economics, University of International Business and Economics, Beijing, ChinaSchool of Insurance and Economics, University of International Business and Economics, Beijing, ChinaSchool of Insurance and Economics, University of International Business and Economics, Beijing, ChinaThe effect of the development of green finance (GF) on the green transformation of corporations has been a key research issue in recent years. This study is based on a list of companies insured under the environmental pollution liability insurance (EPI) announced by the Ministry of Ecology and Environment (formerly the Ministry of Environmental Protection) in 2014 and 2015. Considering A-share listed companies in China as research samples and using the DID model, we investigate the impact of EPI on corporate green innovation (CGI). The results show that EPL can significantly promote the green innovation level of insured corporations, mainly reflected in two aspects of green invention patents and green utility model patents; this positive effect is more obvious in non-state-owned, heavily polluting, and patent-intensive corporations. These results hold after the robustness test. The mechanism analysis reveals that EPL promotes corporate green innovation by alleviating corporate financing constraints. This study provides new evidence for the role of GF in promoting green innovation and transformation in China.http://www.sciencedirect.com/science/article/pii/S2667010023001117Environmental pollution liability insuranceGreen innovationDID |
| spellingShingle | Xiaogang Wang Yuantao Xie Yu Chen Yue Zhang Does environmental pollution liability insurance affect corporate green innovation? New evidence from China Environmental Challenges Environmental pollution liability insurance Green innovation DID |
| title | Does environmental pollution liability insurance affect corporate green innovation? New evidence from China |
| title_full | Does environmental pollution liability insurance affect corporate green innovation? New evidence from China |
| title_fullStr | Does environmental pollution liability insurance affect corporate green innovation? New evidence from China |
| title_full_unstemmed | Does environmental pollution liability insurance affect corporate green innovation? New evidence from China |
| title_short | Does environmental pollution liability insurance affect corporate green innovation? New evidence from China |
| title_sort | does environmental pollution liability insurance affect corporate green innovation new evidence from china |
| topic | Environmental pollution liability insurance Green innovation DID |
| url | http://www.sciencedirect.com/science/article/pii/S2667010023001117 |
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