Green innovation is the key to achieving the win-win goal of fostering economic development and reducing environ-mental pollution.This paper innovatively took the"green innovation quantity"and"green innovation quality"as different repre-sentations of the green innovation.On this basis,we took China's Shanghai and Shenzhen A-share heavy polluting listed com-panies as a sample,and studied the impact of environmental information disclosure on firms'green innovation by using the medi-ating effect model and moderating effect model.The results showed that:(1)Environmental information disclosure forces the lis-ted companies to increase the number of green innovations,but reduces the quality of green innovation.This conclusion is still valid after a series of robustness tests.(2)Environmental information disclosure exacerbates short-termism,which crowds out high-quality green innovations.(3)Improving the management ability and increasing the shareholding ratio of long-term insti-tutional investors can correct the green innovation formalism of enterprises.Our results will not only contribute to a more compre-hensive understanding of the logical relationship between environmental information disclosure and green innovation,but also pro-vide practical evidence for further optimization of environmental governance and promotion of enterprises'core competitive capa-bility.
environmental information disclosureinnovation qualityinnovation quantitygreen innovation
NETL
NSTL
维普
万方数据
