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The market value of green innovation: A comparative analysis of global renewable energy firms

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  • Lv, Xin
  • Liu, Tianyu
  • Dong, Weijia
  • Su, Wenjun

Abstract

This paper conducts an overall, cross-country comparative study on the issue of market value of green innovations. First, we find that green patents and their citations have smaller or insignificant impacts on the market value of renewable energy firms. Second, the positive impacts of R&D investment and patent count on the market value in Europe and China are higher than those in the United States.

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  • Lv, Xin & Liu, Tianyu & Dong, Weijia & Su, Wenjun, 2023. "The market value of green innovation: A comparative analysis of global renewable energy firms," Finance Research Letters, Elsevier, vol. 51(C).
    • Handle: RePEc:eee:finlet:v:51:y:2023:i:c:s1544612322006663
    DOI: 10.1016/j.frl.2022.103490
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    References listed on IDEAS

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    Cited by:

    1. Tan, Weijie & Zhang, Zihan & Chu, Zhongzhu & Chen, Pengyu, 2024. "Unlocking green potential: The digital government-driven revolution in corporate green innovation," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 60-79.
    2. Jinhuan Tian & Yan Dong & Gianluca Vagnani & Peizhong Liu, 2023. "Green innovation and the stock market value of heavily polluting firms: The role of environmental compliance costs and technological collaboration," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4938-4953, November.
    3. Stanley Y. B. Huang, 2025. "How to drive the innovation strategy adoption in the renewable energy technology company: a perspective of organizational management," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(4), pages 9021-9037, April.
    4. Zheng, Jiafeng & Tu, Yongqian, 2024. "Party organization embeddedness and corporate green innovation," Finance Research Letters, Elsevier, vol. 67(PB).
    5. Lin, Boqiang & Xie, Yongjing, 2023. "The impact of government subsidies on capacity utilization in the Chinese renewable energy industry: Does technological innovation matter?," Applied Energy, Elsevier, vol. 352(C).
    6. Shi, Hongyu & Zhou, Qun, 2024. "Government R&D Subsidies, Environmental regulation and corporate green innovation performance," Finance Research Letters, Elsevier, vol. 69(PB).

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