Can Climate Transition Risks Enhance Enterprise Green Innovation? An Analysis Employing a Dual Regulatory Mechanism
気候移行リスクは企業のグリーンイノベーションを促進できるか？二重規制メカニズムを用いた分析 (AI 翻訳)
Liping Cao, Feng Zhou
🤖 gxceed AI 要約
日本語
本研究は2012～2024年の中国A株上場企業を対象に、テキスト分析で気候移行リスク指数を構築し、グリーンイノベーションへの影響を実証した。機関投資家の保有と企業の環境不確実性が正の調整効果を持つこと、また非国有・製造業で効果が顕著であることを示した。ポーター仮説の新たな実証的裏付けを提供する。
English
Using a sample of Chinese A-share listed firms from 2012 to 2024, this study constructs a climate transition risk index via text analysis and empirically examines its impact on green innovation. It finds that transition risk significantly promotes green innovation, with positive moderating roles of institutional ownership and environmental uncertainty. The effect is stronger in non-state-owned and manufacturing firms, providing new evidence for the Porter Hypothesis in the context of climate risks.
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
本論文は中国市場の分析だが、日本企業が気候移行リスクを認識し、グリーンイノベーションに活かす示唆を含む。SSBJや有報での気候関連開示が進む中、外部モニタリング（機関投資家）とリスク認識（環境不確実性）の重要性を指摘しており、日本の企業経営者や政策担当者にも参考になる。
In the global GX context
This study extends the understanding of how climate transition risks can drive green innovation, highlighting the roles of external monitoring and risk perception. While focused on China, the findings are relevant for global climate disclosure frameworks (e.g., ISSB, TCFD) and the Porter Hypothesis debate, offering empirical support for policies that encourage firms to view transition risks as innovation opportunities.
👥 読者別の含意
🔬研究者:Contributes to the literature on climate risk and innovation, with novel evidence on dual regulatory mechanisms.
🏢実務担当者:Suggests that firms can leverage climate transition risks to drive green innovation, especially with strong institutional oversight and risk awareness.
🏛政策担当者:Provides empirical support for climate disclosure policies that emphasize transition risk, potentially spurring green innovation.
📄 Abstract（原文）
In the context of the global pursuit of the ‘carbon neutrality’ objective, Chinese enterprises are proactively advancing green development and low-carbon transformation. Among these efforts, climate transition risks have emerged as a crucial factor affecting strategic enterprise decisions and long-term competitiveness. This study utilizes a sample comprising Chinese A-share listed enterprises over the period from 2012 to 2024 to construct an enterprise climate transition risk index using text analysis methods. It empirically investigates this index’s impact on enterprise green innovation by adopting panel data analysis method to construct a fixed effects model and further examines the moderating roles of institutional investors’ shareholding and enterprise environmental uncertainties in response to climate transition risks. The research findings indicate the following: First, climate transition risks significantly enhance enterprise green innovation. The validity of this conclusion persists following a series of robustness and endogeneity tests, including replacing the explained variable, lagging the explanatory variable, controlling for city-level fixed effects, and applying instrumental variable methods. Second, both institutional investors’ shareholding and enterprise environmental uncertainties exert a significant positive regulatory effect on the relationship between climate transition risk and green innovation, indicating that external monitoring and heightened risk perception jointly enhance enterprises’ responsiveness in driving green innovation. Thirdly, heterogeneity analysis indicates that the positive impact of climate transition risks on green innovation is notably amplified within non-state-owned enterprises and manufacturing enterprises. By examining the dual regulatory mechanisms of ‘external monitoring’ and ‘risk perception’, this study broadens the study framework on the relationship between climate risks and enterprise green innovation, offering new empirical evidence supporting the applicability of the ‘Porter Hypothesis’ within the context of climate-related challenges. Furthermore, it provides valuable implications for policymakers in refining climate information disclosure policies and assists enterprises in developing forward-looking green innovation strategies.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3390/cli14010018first seen 2026-06-29 08:41:15
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