Can Green Innovation Participation of Senior Management Team Improve Enterprise ESG Performance?
In recent years,with the widespread recognition of the concept of sustainable development,the sustainable development of enterprises has become a key issue in economic and social development.Companies are no longer measuring success solely in terms of financial performance,but are focusing more on environmental,social and governance(ESG)impacts.This study focuses on the key role of executive teams in corporate sustainability,with a particular focus on the impact of executive team participation in green innovation on ESG performance.Based on the high-level echelon theory,social cognitive theory and strategic leadership theory,this paper constructs the theoretical framework of"feature-capability-performance",and chooses Chinese listed enterprises as samples for empirical research.It is found that the green innovation participation of the senior management team directly improves the ESG performance of the enterprise.At the same time,corporate risk tolerance plays a key intermediary role between green innovation and ESG performance of senior management team.The environmental awareness of the senior management team plays an important role in moderating the impact of green innovation participation of the senior management team on ESG performance.The study also analyzed firm geography and industry heterogeneity in depth,and found that heavily polluting firms and firms in coastal cities showed a more significant relationship between executive team green innovation participation and ESG performance.This study expands the theoretical understanding of ESG performance,emphasizes the participation of senior management teams in green innovation as a key influencing factor,provides strategic guidance for business leaders,and is expected to promote corporate practices in the fields of environmental protection,social responsibility and governance,and accelerate the practical implementation of the sustainable development agenda.
executive team green innovation participationrisk-takingenvironmental awareness of the executive teamESG
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