Do institutional investors facilitate corporate environmental innovation?
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2023-01-01
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This paper addresses whether institutional investors drive firms’ innovation direction toward environmentally friendly technologies. The data pertain to comprehensive environmental patents filed by Chinese publicly-listed firms in the manufacturing and public utility sectors during the 2003–2015 period. We find that institutional investors are associated with higher ratios of environmental patents in total patents for firms in the pollution-intensive sectors than those in the non-pollution-intensive sectors. Institutional investors exert the roles of financial support and corporate governance in pursuit of monitoring firms’ long-term sustainable innovation. They further facilitate the information disclosure on corporate social responsibility.
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Xu, J, S Zeng, S Qi and J Cui (2023). Do institutional investors facilitate corporate environmental innovation?. Energy Economics, 117. pp. 106472–106472. 10.1016/j.eneco.2022.106472 Retrieved from https://hdl.handle.net/10161/26566.
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Jingbo Cui
Bio: Dr. Jingbo Cui is a tenured Associate Professor of Applied Economics at the Division of Social Sciences, Co-Director at the Environmental Research Center, and Director of Graduate Studies for the International Master of Environmental Policy (iMEP) program at Duke Kunshan University, Adjunct Professor and Ph.D. Supervisor at the School of Economics and Management at Wuhan University. Before the current position, he was a Chu-Tian Junior Scholar from the Department of Education in Hubei Province, an Associate Professor at the School of Economics and Management at Wuhan University, a Post-doctoral Research Associate, and a visiting scholar at Iowa State University. He holds a Ph.D. in economics from Iowa State University, an M.S. in economics from Wuhan University, and a B.S. in economics and mathematics from Huazhong University of Science and Technology, China.
Dr. Cui’s research centers on Environmental Economics, the Economics of Innovation, and the Economics of Climate Change. His recent research has delved into intriguing topics such as the drivers and obstacles to low-carbon innovation, the economic and environmental impacts of China's climate policy and risk. His scholarly contributions have been published in top-tier academic journals, including Proceedings of the National Academy of Sciences (PNAS), American Economic Review Papers and Proceedings, Journal of Environmental Economics and Management, American Journal of Agricultural Economics, Environmental and Resource Economics, Journal of Regional Science, The World Economy, and Energy Economics. He has served as a referee for leading journals in Environmental Economics, Agricultural Economics, and Economics of Innovation (i.e., JEEM, AJAE, JAERE, Nature Climate Change, and Research Policy), as Associate Editor for the Environment and Development Economics, and a member of the editorial council in JAERE. His research projects have been funded by the National Natural Science Foundation of China (General Program, Junior Program, and Urgent Program) and the Jiangsu Qinglan Project.
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