The impact of risk-taking level on green technology innovation: Evidence from energy-intensive listed companies in China. (25th January 2021)

• Record Type: Journal Article
• Authors: Yan, Xing; Zhang, Yi; Pei, Ling-Ling
• Is Part Of: Journal of cleaner production. Volume 281(2021)
• Publication Date: 2021-01-25
• Subjects: Sustainable development -- Level of risk taking -- Green technology innovation -- Energy-intensive listed company -- China; index: LRT level of risk taking -- GTII green technology innovation intention -- GTIP green technology innovation performance -- GBTP green biased technological progress -- EILCs energy-intensive listed company -- CCER command-and-control environmental regulation -- MOER market-oriented environmental regulation; Factory and trade waste -- Management -- Periodicals; Manufactures -- Environmental aspects -- Periodicals; Déchets industriels -- Gestion -- Périodiques; Usines -- Aspect de l'environnement -- Périodiques; 628.5
• DOI: 10.1016/j.jclepro.2020.124685
• Languages: English
• ISSNs: 0959-6526

Abstract

Abstract: The impact of company risk on green technology innovation (GTI) has seldom been explored in previous studies. In this study, the relationship between level of risk taking and GTI is empirically investigated and green biased technological progress is examined by dividing the process of GTI into GTI intention and GTI performance: energy-intensive listed companies operating in China from 2011 to 2017 are taken as the research objects. The results show that the level of risk taking negatively affects GTI performance and green biased technological progress. The most important factor acting is the intensity of industrial competition. Various external factors, e.g. environmental regulation, government R&D subsidy, and region are found to significantly influence the GTI intention of the companies. Moreover, these factors determine the GTI performance together with the level of risk taking and R&D input. Finally, suggestions are proposed from a risk perspective to promote the GTI of companies. Highlights: The zero-inflation of the GTI was explained by subdividing its processes into green technology innovation intention (GTII) and green technology innovation performance (GTIP) categories. External factors, e.g. environmental regulation, government R&D subsidies, and regional locations of the companies affect the GTII, and together with internal factors determine the GTIP. The comprehensive risk-taking level of the energy-intensive listed companies negatively affects the GTIP and green biased technological progress.