Climate risk and corporate sustainable innovation: evidence from Chinese A-share listed companies
気候リスクと企業の持続可能なイノベーション：中国A株上場企業からの証拠 (AI 翻訳)
Shu Shang, Yanxi Li
🤖 gxceed AI 要約
日本語
本論文は、2008年から2023年の中国A株上場企業のパネルデータを用いて、気候リスクが企業の持続可能なイノベーション（研究開発投資と特許出願）に与える影響を実証分析した。結果、気候リスクはイノベーションを有意に抑制し、資金調達制約と収益減少が媒介要因であることを示した。一方、活発なイノベーション活動と強固なガバナンスが緩和効果を持つ。企業属性、産業特性、地域要因による差異も明らかにした。
English
Using panel data from Chinese A-share listed companies (2008-2023), this paper empirically examines how climate risk affects corporate sustainable innovation. It finds that climate risk significantly inhibits R&D inputs and patent outputs, mediated by financing constraints and declining business income, while active innovation and strong governance mitigate the effect. The study also reveals heterogeneity across firm attributes, industry traits, and regional factors, offering insights for targeted policy interventions.
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
日本では、気候リスクが企業の長期的な競争力やイノベーションに与える影響は、SSBJ開示やTCFD対応の文脈で注目されている。本論文の知見は、日本企業が気候リスクを事業戦略に組み込む際のエビデンスとして有用であり、特にガバナンス強化やイノベーション投資の重要性を示唆する。
In the global GX context
This paper contributes to the global discourse on climate risk and corporate behavior, complementing TCFD/ISSB frameworks by providing empirical evidence on how climate risk affects innovation. It highlights the role of governance and innovation capacity as buffers, which is relevant for global investors and policymakers assessing climate resilience.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the climate risk-innovation nexus, with novel mediating mechanisms and heterogeneity analysis.
🏢実務担当者:Highlights the importance of governance and innovation capacity in mitigating climate risk impacts, useful for corporate strategy.
🏛政策担当者:Suggests targeted policy interventions to support vulnerable firms and regions in maintaining innovation amid climate challenges.
📄 Abstract（原文）
This paper aims to examine how climate risk affects corporate sustainable innovation in Chinese A-share listed companies (2008–2023), analyzing its impact on corporate sustainable innovation inputs/outputs and identifying mitigation mechanisms through financing, operations and governance. Using panel data from Chinese A-share listed companies (2008–2023), this paper use basic regression test to assess climate risk’s impact on corporate sustainable innovation, with robustness test and mediating/moderating effect test examining financing constraints, business income, innovation activity and corporate governance. Climate risk significantly inhibits corporate sustainable innovation, reducing both R&D inputs and patent outputs. Financing constraints and declining business income mediate this effect, while active innovation and strong governance mitigate it. Effects vary by firm attributes (ownership, growth stage), industry traits (competitiveness, technology level) and regional factors (location, institutional quality). State-owned and subsidy-backed firms show greater resilience, as do high-tech industries and coastal-region firms. Results highlight climate risk as a systemic threat but identify actionable buffers through innovation capacity and governance improvements, with implications for targeted policy interventions across different firm types and regions. Firms should strengthen governance and innovation to mitigate climate risks. Policymakers need targeted support for vulnerable firms/regions. Investors should assess climate resilience through innovation capacity and governance quality when making decisions. Climate risk may widen inequality by disproportionately affecting smaller firms and poorer regions. Proactive policies can promote inclusive growth while maintaining innovation capacity amid climate challenges. This paper pioneers microlevel analysis of climate risk’s impact on innovation, identifying novel mitigation mechanisms and providing granular insights across firm, industry and regional levels.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1108/cms-06-2025-0601first seen 2026-05-15 20:55:12 · last seen 2026-05-22 04:52:47
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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。