The innovation incentive effect of green investors: evidence from fund holdings

Maolin Li; Yan Li; Zhen Li; Di Wang

doi:10.1080/13504851.2024.2363999

The innovation incentive effect of green investors: evidence from fund holdings

Maolin Li, Yan Li, Zhen Li^*, Di Wang

^*Corresponding author for this work

School of Economics and Management

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

Using data from China A-share non-financial listed firms and mutual funds between 2010–2020, we investigate green investors’ impact on corporate green innovation. Consonant with the received literature, we find a significant incentivization effect, where green shareholders positively influence innovation by improving governance and mitigating financial constraints. This result suggests that incentivization is more pronounced in the realm of utility innovation and within state-owned enterprises.

Original language	English
Journal	Applied Economics Letters
DOIs	https://doi.org/10.1080/13504851.2024.2363999
State	Accepted/In press - 2024

Keywords

ESG
green innovation
green investors
incentive effect

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10.1080/13504851.2024.2363999

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title = "The innovation incentive effect of green investors: evidence from fund holdings",

abstract = "Using data from China A-share non-financial listed firms and mutual funds between 2010–2020, we investigate green investors{\textquoteright} impact on corporate green innovation. Consonant with the received literature, we find a significant incentivization effect, where green shareholders positively influence innovation by improving governance and mitigating financial constraints. This result suggests that incentivization is more pronounced in the realm of utility innovation and within state-owned enterprises.",

keywords = "ESG, green innovation, green investors, incentive effect",

author = "Maolin Li and Yan Li and Zhen Li and Di Wang",

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year = "2024",

doi = "10.1080/13504851.2024.2363999",

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journal = "Applied Economics Letters",

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T2 - evidence from fund holdings

AU - Li, Maolin

AU - Li, Yan

AU - Li, Zhen

AU - Wang, Di

PY - 2024

Y1 - 2024

N2 - Using data from China A-share non-financial listed firms and mutual funds between 2010–2020, we investigate green investors’ impact on corporate green innovation. Consonant with the received literature, we find a significant incentivization effect, where green shareholders positively influence innovation by improving governance and mitigating financial constraints. This result suggests that incentivization is more pronounced in the realm of utility innovation and within state-owned enterprises.

AB - Using data from China A-share non-financial listed firms and mutual funds between 2010–2020, we investigate green investors’ impact on corporate green innovation. Consonant with the received literature, we find a significant incentivization effect, where green shareholders positively influence innovation by improving governance and mitigating financial constraints. This result suggests that incentivization is more pronounced in the realm of utility innovation and within state-owned enterprises.

KW - ESG

KW - green innovation

KW - green investors

KW - incentive effect

UR - https://www.scopus.com/pages/publications/85195647697

U2 - 10.1080/13504851.2024.2363999

DO - 10.1080/13504851.2024.2363999

M3 - 文章

AN - SCOPUS:85195647697

SN - 1350-4851

JO - Applied Economics Letters

JF - Applied Economics Letters

ER -

The innovation incentive effect of green investors: evidence from fund holdings

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Keywords

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