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The role of board capital in driving green innovation: Evidence from China

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  • Yousaf, Umair Bin
  • Ullah, Irfan
  • Jiang, Junchen
  • Wang, Man

Abstract

Despite the strategic significance of green innovation and the substantial role of board capital in corporate decision-making, no prior study has deeply investigated the relationship between board capital and green innovation. By combining the agency and resource dependence perspectives, we propose that board capital facets (i.e. human and social capital) influence the green innovation performance. The dataset of 2064 Chinese listed firms (2010–2018) is employed. Consistent with our expectations, we find that board capital positively affects green innovation. The findings also indicate that absorptive capacity mediates this relationship. Further, while exploring the interrelationships among board capital, green innovation and firm’s environmental performance, we identified the mediating role of green innovation on the board capital–environmental performance relationship. The study has implications for academicians, practitioners, and policy-makers as they should consider the education level, expertise, and interlocking relationships of potential and existing directors to enhance their ability for correct strategic decisions, particularly related to environmental outcomes such as green innovation.

Suggested Citation

  • Yousaf, Umair Bin & Ullah, Irfan & Jiang, Junchen & Wang, Man, 2022. "The role of board capital in driving green innovation: Evidence from China," Journal of Behavioral and Experimental Finance, Elsevier, vol. 35(C).
    • Handle: RePEc:eee:beexfi:v:35:y:2022:i:c:s2214635022000533
    DOI: 10.1016/j.jbef.2022.100714
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    3. Xin Lin & Lina Yu & Jinhong Zhang & Suxu Lin & Qiming Zhong, 2022. "Board Gender Diversity and Corporate Green Innovation: Evidence from China," Sustainability, MDPI, vol. 14(22), pages 1-24, November.

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    More about this item

    Keywords

    Board capital; Green innovation; Absorptive capacity; Environmental performance; China;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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