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Green innovation spillovers from chain leaders: Effects and mechanisms

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  • Zhang, Yao
  • Guo, Xuemeng

Abstract

Using a hand-collected multidimensional dataset of Chinese chain leaders spanning 2013–2023, findings reveal that both the number and average green innovation level of nearby chain leaders significantly improve listed firms’ green innovation performance. These spillovers operate via technology diffusion, network embedding, and competition-driven effects. The spillover effect is stronger for non-state-owned firms, firms with narrower knowledge breadth, and in regions with stronger intellectual property protection.

Suggested Citation

  • Zhang, Yao & Guo, Xuemeng, 2026. "Green innovation spillovers from chain leaders: Effects and mechanisms," Finance Research Letters, Elsevier, vol. 104(C).
    • Handle: RePEc:eee:finlet:v:104:y:2026:i:c:s1544612326007580
    DOI: 10.1016/j.frl.2026.110230
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