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How green strategic alliances enhance green innovation: Mechanisms and evidence in China

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  • Wang, Yuhan
  • Hao, Jinxing
  • Guo, Hui
  • Xian, Maoyang
  • Liao, Qiang

Abstract

We examine the influence of green strategic alliances on corporate green innovation through text analyses. Our paper reveals a positive association between green strategic alliances and corporate green innovation, with three influencing pathways: government support, knowledge transfer, and risk-taking. Cross-sectional analyses suggest that the effect is more pronounced when the firms are headquartered in regions with underdeveloped financial markets, lower innovation capacity, and a lower risk appetite. Supplemental test indicates that green strategic alliances lead to high quality green innovation. Overall, this paper underscores the critical role of green strategic alliances in promoting corporate green innovation and advancing sustainability efforts.

Suggested Citation

  • Wang, Yuhan & Hao, Jinxing & Guo, Hui & Xian, Maoyang & Liao, Qiang, 2025. "How green strategic alliances enhance green innovation: Mechanisms and evidence in China," Finance Research Letters, Elsevier, vol. 77(C).
    • Handle: RePEc:eee:finlet:v:77:y:2025:i:c:s1544612325003599
    DOI: 10.1016/j.frl.2025.107096
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    Cited by:

    1. Chen, Yuxin & Zhao, Shuwang, 2026. "How does network exposure risk affect enterprises' strategic alliances?," Finance Research Letters, Elsevier, vol. 87(C).
    2. Zhang, Fan & Li, Shaodong, 2025. "Green innovation, executives’ environmental awareness, and corporate value chain upgrading," Finance Research Letters, Elsevier, vol. 86(PD).
    3. Shi, Huiyi & Xia, Yufei & Li, Yawen & Hua, Yifan & Fu, Yating, 2025. "Data asset information disclosure divergence and green innovation: causal evidence from double-debiased machine learning," Finance Research Letters, Elsevier, vol. 84(C).

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