ESG, Financial Constraints, and Green Technology Innovation: Evidence from China with the Moderating Role of Environmental Public Attention
ESG、財務制約、およびグリーン技術イノベーション：環境への公衆関心の調整効果を考慮した中国からのエビデンス (AI 翻訳)
Jiawen Wang
🤖 gxceed AI 要約
日本語
中国のA株上場企業を対象に、ESGパフォーマンスがグリーン技術イノベーションに与える影響を分析。地域差や所有制による異質性を検証し、財務制約が媒介効果を持つこと、環境への公衆関心がESGの効果を強化することを実証。
English
Using Chinese A-share listed firms, this study finds that ESG performance positively influences green technology innovation, with regional and ownership variations. Financial constraints mediate this relationship, and environmental public attention strengthens the ESG-innovation link.
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
日本でもESG情報開示の質向上が課題となる中、本論文は公衆の環境関心がESGの効果を高める点を示唆。日本企業のグリーンイノベーション推進において、ステークホルダー意識の醸成が重要であることを示す。
In the global GX context
This paper provides empirical evidence from China on how ESG performance eases financial constraints and boosts green innovation, moderated by public environmental attention. It underscores the importance of stakeholder awareness for global ESG-driven innovation strategies.
👥 読者別の含意
🔬研究者:Methodologically, the study integrates financing constraints and public attention as mechanisms, offering a framework for cross-country ESG-innovation research.
🏢実務担当者:Firms can leverage improved ESG ratings to reduce financing barriers and enhance green innovation, especially in regions with high environmental public awareness.
🏛政策担当者:Policymakers can strengthen the ESG-innovation nexus by fostering environmental public attention through awareness campaigns and disclosure mandates.
📄 Abstract（原文）
Against the backdrop of China’s “dual-carbon” objectives and ongoing improvements in ESG disclosure standards, green technological innovation has become central to firms’ sustainable development. Using a sample of Chinese A-share listed companies, this study examines how ESG performance affects firms’ green technology innovation and whether the effect varies across regions and ownership types. To unpack the underlying channels, the analysis incorporates financing constraints as a mediating mechanism and environmental public attention as a moderating factor. The results show that ESG performance is positively associated with green innovation, with pronounced geographic variation and firm-level heterogeneity. The effect is stronger for non-state-owned enterprises than for state-owned enterprises. Financing constraints mediate the ESG–green innovation relationship, suggesting that improved ESG performance can ease funding frictions and thereby support innovation activities. In addition, environmental public attention significantly strengthens the positive effect of ESG on green innovation: in regions with higher public attention to environmental issues, the ESG-innovation linkage becomes more pronounced. Overall, this study contributes to the literature by integrating spatial heterogeneity and public environmental attention into the empirical analysis of ESG-driven green innovation.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.70267/fer.250302.0110first seen 2026-05-15 18:54:06
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