Red Culture and Corporate Green Innovation—A Study Based on Geographical Data of National Martyrs'Memorial Facilities
Based on the institutional theory,using the geographic location data of 277 national martyrs'memorial facilities and the A-share listed companies in the Shanghai and Shenzhen stock markets from 2009 to 2020 as the research sample,it empirically examined the impact of red culture on corporate green innovation.The results show that red culture significantly promotes corporate green innovation,and foreign culture and the improvement of formal institutional environment weaken the promoting effect of red culture on corporate green innovation.Mechanism tests indicate that managers'green innovation awareness and spirit of dedication are two mechanisms through which red culture promotes corporate green innovation.Further research reveals that the promoting effect of red culture on corporate green innovation is more significant in state-owned enterprises and enterprises with a stronger public environmental awareness in their localities,while the influence of the industry's proximity to consumers on this promoting effect is not significantly different.It reveals the mechanism of red culture's impact on corporate green innovation from a micro-enterprise perspective,providing theoretical support and empirical evidence for solving the"ontology"dilemma of red culture,and also offering management insights for government departments to pay attention to the social governance function of red culture and other informal institutions.
red cultureinformal systemcorporate green innovation
NETL
NSTL
万方数据
