Exploring the Peer Effects of Green Technology Innovation Within Industry Chain
The advancement of green technological innovation within industry chains is pivotal to bolstering industrial competitive-ness and realizing China's ambitions for a dual carbon economy.This study analyzes listed non-financial A-share companies from 2007 to 2021 to investigate the presence and underlying mechanisms of peer effects in green technological innovation among businesses along these chains.The findings confirm the existence of significant peer effects within the realm of green technological innovation across the industry chains examined.These effects persist as robust even after a battery of tests,including placebo trials and instrumental vari-able techniques.Mechanistic examination suggests that these peer effects primarily arise from inter-firm learning and synergistic activi-ties predicated on information transmission among upstream and downstream enterprises,coupled with competitive drive.Further scruti-ny through heterogeneity tests elucidates that the peer effects in green technological innovation are predominantly propelled by the de-mand from downstream clients.Moreover,a stable external economic policy milieu is highlighted as a significant contextual catalyst for these peer phenomena.The investigation also uncovers that these peer effects are accentuated during an enterprise's growth phase and when corporate executives possess heightened environmental consciousness.The insights gleaned from this study serve as actionable guidelines to nurture green technological innovation at the corporate level,foster synergies within industry chains,and inform govern-mental initiatives aimed at reinforcing,expanding,and integrating these chains.
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