Green Innovation Effects of ESG Information Disclosure by Listed Companies
This paper selects A-share listed companies on Shanghai and Shenzhen stock exchanges from 2015 to 2021 as samples to empirically test the green innovation effects ofenterprise ESG information disclo-sure.The results indicate that ESG information disclosure significantly promotes green innovation in enter-prises.The conclusion remains valid after conducting robustness checks by replacing the explanatory and dependent variables.Mechanism tests reveal that the green innovation effects of ESG information disclosure can be specifically achieved by increasing the shareholding proportion of institutional investors and boosting the R&D investment of enterprises.
ESG information disclosureinstitutional investor shareholdingR&D investmentgreen inno-vation
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