Impact of conglomerates on corporate green innovation in China
中国におけるコングロマリットが企業のグリーンイノベーションに与える影響 (AI 翻訳)
Yao Wang, Xiaoqing Feng, Guangfan Sun, Daosheng Xu
🤖 gxceed AI 要約
日本語
本研究は2003年から2024年の中国A株市場上場企業を対象に、コングロマリットが企業のグリーンイノベーションに与える影響を実証分析。結果、コングロマリットは内部資本市場による資金制約の緩和と内部知識ネットワークによる知識ギャップの補填を通じて、メンバー企業のグリーンイノベーションを有意に促進することを示した。特に環境規制の厳しい地域や環境意識の高い経営陣の企業で効果が顕著。
English
Using a sample of Chinese A-share listed firms from 2003 to 2024, this study empirically examines how conglomerates affect corporate green innovation. The results show that conglomerates significantly enhance green innovation through alleviating financing constraints via internal capital markets and compensating for knowledge gaps via internal knowledge networks. The effect is stronger for firms in regions with stricter environmental regulations and those with executives having higher environmental awareness.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国のコングロマリット構造に焦点を当てた研究だが、日本企業のグループ経営（例：系列）におけるグリーンイノベーション促進のメカニズムを考える上で示唆に富む。特に内部資本市場と知識ネットワークの役割は、日本企業のサステナビリティ戦略にも応用可能。
In the global GX context
This paper provides novel evidence on how business group structures can drive green innovation, contributing to the global literature on organizational enablers of sustainability. The mechanisms identified (internal capital and knowledge networks) are relevant for multinational corporations and policymakers seeking to foster green innovation through corporate governance.
👥 読者別の含意
🔬研究者:Highlights the role of conglomerates in green innovation, with clear mechanisms (financing constraints and knowledge gaps) that can be explored in other contexts.
🏢実務担当者:Suggests that internal capital and knowledge networks within business groups can be leveraged to accelerate green innovation, offering a strategic rationale for group-level sustainability initiatives.
🏛政策担当者:Provides evidence that encouraging business group structures or internal networks may promote green innovation, particularly in regions with stringent environmental regulations.
📄 Abstract（原文）
Green innovation serves as a pivotal approach to address environmental challenges and drive sustainable economic development. Using a sample of companies listed on the Shanghai and Shenzhen A-share markets from 2003 to 2024, this study empirically examines how conglomerates affect corporate green innovation. The results show that conglomerates significantly enhance green innovation — particularly in enterprises located in regions with stricter environmental regulations and those with executives possessing stronger environmental awareness. Mechanism tests reveal that the alleviation of “ financing constraints ” through the internal capital market and the compensation for “ knowledge gaps ” through the internal knowledge network are key channels through which conglomerates drive green innovation within their member enterprises. These findings not only contribute to the literature on the role of conglomerates in environmental governance but also provide valuable insights for promoting the green transformation and sustainable development of enterprises.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1016/j.jik.2025.100915first seen 2026-05-15 21:21:36
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