IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v172y2024ics0148296323007750.html
   My bibliography  Save this article

Research on the influence of chain shareholder network on enterprise green innovation

Author

Listed:
  • Gu, Wentao
  • Yuan, Wenyu

Abstract

Green innovation plays a pivotal role in the high-quality development of social economy, but its high risk and investment can daunt enterprises. As a result, business stakeholders often use interpersonal relationships to start to overcome boundaries to obtain and disseminate green innovation information and resources. Based on the number of green innovation patent applications from 2011 to 2020, this paper constructs an undirected weighted network of enterprise chain shareholders and empirically examines the influence of centrality and structural hole characteristics of social networks on green innovation. Additionally, a heterogeneity analysis is conducted from the perspectives of core-periphery structure and CEO overseas experience. The findings are beneficial for enterprises to have achieve a more comprehensive understanding of the role of their positional advantages in the network on green innovation and provide new ideas and directions for firms to improve their green innovation level.

Suggested Citation

  • Gu, Wentao & Yuan, Wenyu, 2024. "Research on the influence of chain shareholder network on enterprise green innovation," Journal of Business Research, Elsevier, vol. 172(C).
    • Handle: RePEc:eee:jbrese:v:172:y:2024:i:c:s0148296323007750
    DOI: 10.1016/j.jbusres.2023.114416
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296323007750
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2023.114416?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Bhattacharya, Utpal & Hsu, Po-Hsuan & Tian, Xuan & Xu, Yan, 2017. "What Affects Innovation More: Policy or Policy Uncertainty?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 52(5), pages 1869-1901, October.
    2. Xu, Aiting & Zhu, Yuhan & Wang, Wenpu, 2023. "Micro green technology innovation effects of green finance pilot policy—From the perspectives of action points and green value," Journal of Business Research, Elsevier, vol. 159(C).
    3. José Azar & Martin C. Schmalz & Isabel Tecu, 2018. "Anticompetitive Effects of Common Ownership," Journal of Finance, American Finance Association, vol. 73(4), pages 1513-1565, August.
    4. Horbach, Jens & Rammer, Christian & Rennings, Klaus, 2012. "Determinants of eco-innovations by type of environmental impact — The role of regulatory push/pull, technology push and market pull," Ecological Economics, Elsevier, vol. 78(C), pages 112-122.
    5. Li, Huajiao & An, Haizhong & Gao, Xiangyun & Huang, Jiachen & Xu, Qun, 2014. "On the topological properties of the cross-shareholding networks of listed companies in China: Taking shareholders’ cross-shareholding relationships into account," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 406(C), pages 80-88.
    6. Chuluun, Tuugi & Prevost, Andrew & Upadhyay, Arun, 2017. "Firm network structure and innovation," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 193-214.
    7. Rosa Dangelico & Devashish Pujari, 2010. "Mainstreaming Green Product Innovation: Why and How Companies Integrate Environmental Sustainability," Journal of Business Ethics, Springer, vol. 95(3), pages 471-486, September.
    8. David Popp, 2012. "The Role of Technological Change in Green Growth," NBER Working Papers 18506, National Bureau of Economic Research, Inc.
    9. Jing-Wen Huang & Yong-Hui Li, 2017. "Green Innovation and Performance: The View of Organizational Capability and Social Reciprocity," Journal of Business Ethics, Springer, vol. 145(2), pages 309-324, October.
    10. Meng Li & Zengrui Tian & Qian Liu & Yuzhong Lu, 2022. "Literature Review and Research Prospect on the Drivers and Effects of Green Innovation," Sustainability, MDPI, vol. 14(16), pages 1-23, August.
    11. González-Moreno, Ángela & Triguero, Ángela & Sáez-Martínez, Francisco José, 2019. "Many or trusted partners for eco-innovation? The influence of breadth and depth of firms' knowledge network in the food sector," Technological Forecasting and Social Change, Elsevier, vol. 147(C), pages 51-62.
    12. Jian Zhang & Dongmin Kong & Ji Wu, 2018. "Doing Good Business by Hiring Directors with Foreign Experience," Journal of Business Ethics, Springer, vol. 153(3), pages 859-876, December.
    13. Séverine Le Loarne Lemaire & Meriam Razgallah & Adnane Maalaoui & Sascha Kraus, 2022. "Becoming a green entrepreneur: An advanced entrepreneurial cognition model based on a practiced-based approach," International Entrepreneurship and Management Journal, Springer, vol. 18(2), pages 801-828, June.
    14. Amore, Mario Daniele & Bennedsen, Morten, 2016. "Corporate governance and green innovation," Journal of Environmental Economics and Management, Elsevier, vol. 75(C), pages 54-72.
    15. Popp, David, 2012. "The role of technological change in green growth," Policy Research Working Paper Series 6239, The World Bank.
    16. Graham, John R. & Harvey, Campbell R. & Puri, Manju, 2013. "Managerial attitudes and corporate actions," Journal of Financial Economics, Elsevier, vol. 109(1), pages 103-121.
    17. Ching-Hung Chang & Qingqing Wu, 2021. "Board Networks and Corporate Innovation," Management Science, INFORMS, vol. 67(6), pages 3618-3654, June.
    18. Shihping Kevin Huang, 2013. "The Impact of CEO Characteristics on Corporate Sustainable Development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 20(4), pages 234-244, July.
    19. Moxi Song & Morgan X. Yang & Kevin J. Zeng & Wenting Feng, 2020. "Green Knowledge Sharing, Stakeholder Pressure, Absorptive Capacity, and Green Innovation: Evidence from Chinese Manufacturing Firms," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1517-1531, March.
    20. Nicholas A. Ashford & Ralph P. Hall, 2011. "The Importance of Regulation-Induced Innovation for Sustainable Development," Sustainability, MDPI, vol. 3(1), pages 1-23, January.
    21. Elise Perrault, 2015. "Why Does Board Gender Diversity Matter and How Do We Get There? The Role of Shareholder Activism in Deinstitutionalizing Old Boys’ Networks," Journal of Business Ethics, Springer, vol. 128(1), pages 149-165, April.
    22. El-Khatib, Rwan & Fogel, Kathy & Jandik, Tomas, 2015. "CEO network centrality and merger performance," Journal of Financial Economics, Elsevier, vol. 116(2), pages 349-382.
    23. Wang, Zhining & Cai, Shaohan Alan & Ren, Shuang & Singh, Sanjay Kumar, 2023. "Green operational performance in a high-tech industry: Role of green HRM and green knowledge," Journal of Business Research, Elsevier, vol. 160(C).
    24. Juying Zeng & Jun Ren, 2022. "How does green entrepreneurship affect environmental improvement? Empirical findings from 293 enterprises," International Entrepreneurship and Management Journal, Springer, vol. 18(1), pages 409-434, March.
    25. Jie (Jack) He & Jiekun Huang, 2017. "Product Market Competition in a World of Cross-Ownership: Evidence from Institutional Blockholdings," The Review of Financial Studies, Society for Financial Studies, vol. 30(8), pages 2674-2718.
    26. Xiaoping He & Shuo Jiang, 2019. "Does gender diversity matter for green innovation?," Business Strategy and the Environment, Wiley Blackwell, vol. 28(7), pages 1341-1356, November.
    27. Brooks, Chris & Chen, Zhong & Zeng, Yeqin, 2018. "Institutional cross-ownership and corporate strategy: The case of mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 187-216.
    28. Melissa A. Schilling & Corey C. Phelps, 2007. "Interfirm Collaboration Networks: The Impact of Large-Scale Network Structure on Firm Innovation," Management Science, INFORMS, vol. 53(7), pages 1113-1126, July.
    29. Yu-Shan Chen & Cui Wang & Ying-Rong Chen & Wei-Yuan Lo & Kuan-Ling Chen, 2019. "Influence of Network Embeddedness and Network Diversity on Green Innovation: The Mediation Effect of Green Social Capital," Sustainability, MDPI, vol. 11(20), pages 1-17, October.
    30. Marco Tortoriello & Bill McEvily & David Krackhardt, 2015. "Being a Catalyst of Innovation: The Role of Knowledge Diversity and Network Closure," Organization Science, INFORMS, vol. 26(2), pages 423-438, April.
    31. Helmers, Christian & Patnam, Manasa & Rau, P. Raghavendra, 2017. "Do board interlocks increase innovation? Evidence from a corporate governance reform in India," Journal of Banking & Finance, Elsevier, vol. 80(C), pages 51-70.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zhu, Zhaohui & Huang, Yang & Hu, Chao & Yan, Youliang, 2024. "The green effects of competition: administrative monopoly regulation and green innovation," Finance Research Letters, Elsevier, vol. 64(C).
    2. Ge, Tao & Hao, Zixuan & Chen, Yuan & Chen, Zhanbo, 2024. "Energy intensity constraints and corporate investment strategies: Evidence from Chinese listed enterprises," Finance Research Letters, Elsevier, vol. 64(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yu Wang & Yetaotao Qiu & Yi Luo, 2022. "CEO foreign experience and corporate sustainable development: Evidence from China," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2036-2051, July.
    2. Li, Zhenghui & Chen, Bin & Lu, Siting & Liao, Gaoke, 2024. "The impact of financial institutions' cross-shareholdings on risk-taking," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1526-1544.
    3. Xiaofeng Quan & Yun Ke & Yuting Qian & Yao Zhang, 2023. "CEO Foreign Experience and Green Innovation: Evidence from China," Journal of Business Ethics, Springer, vol. 182(2), pages 535-557, January.
    4. Ming Yuan & Jingya Dang & Yujie Hong & Di Gao & Ziyi Xu, 2024. "The Impact of Supply Chain Network Centrality on Sustainable Mergers and Acquisitions: Evidence from China," Sustainability, MDPI, vol. 16(19), pages 1-24, September.
    5. Morteza Akbari & Hamid Padash & Zahra Shahabaldini Parizi & Haniye Rezaei & Elmira Shahriari & Ala Khosravani, 2022. "A bibliometric review of green innovation research: identifying knowledge domain and network," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(6), pages 3993-4023, December.
    6. Fan, Yaoyao & Ly, Kim Cuong & Jiang, Yuxiang, 2023. "Institutional investor networks and firm innovation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
    7. Xu, Runxiang & He, Chao & Li, Yanxi & Kong, Lingwen, 2024. "Peer effects of corporate green innovation: Evidence from China's listed firms," Finance Research Letters, Elsevier, vol. 61(C).
    8. Liu, Feng & Wang, Rongping & Fang, Mingjie, 2024. "Mapping green innovation with machine learning: Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    9. Jinqiu He & Huiwen Su, 2022. "Digital Transformation and Green Innovation of Chinese Firms: The Moderating Role of Regulatory Pressure and International Opportunities," IJERPH, MDPI, vol. 19(20), pages 1-21, October.
    10. Xu, Tianli & Xu, Longbing & Zhu, Siyuan, 2023. "Common ownership and executive pay-for-performance sensitivity: Evidence from China," Research in International Business and Finance, Elsevier, vol. 65(C).
    11. Lewellen, Katharina & Lowry, Michelle, 2021. "Does common ownership really increase firm coordination?," Journal of Financial Economics, Elsevier, vol. 141(1), pages 322-344.
    12. Renneboog, Luc & Vansteenkiste, Cara, 2019. "Failure and success in mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 650-699.
    13. Qiao, Penghua & Liu, Siting & Fung, Hung-Gay & Wang, Chen, 2024. "Corporate green innovation in a digital economy," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 870-883.
    14. Javed, Muzhar & Wang, Fangjun & Usman, Muhammad & Ali Gull, Ammar & Uz Zaman, Qamar, 2023. "Female CEOs and green innovation," Journal of Business Research, Elsevier, vol. 157(C).
    15. Hamza Nizar & Taher Hamza & Faten Lakhal, 2024. "How does institutional cross‐ownership affect firm productivity? The importance of the corporate social responsibility channel," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 1988-2010, April.
    16. Tariq, Adeel & Badir, Yuosre F. & Tariq, Waqas & Bhutta, Umair Saeed, 2017. "Drivers and consequences of green product and process innovation: A systematic review, conceptual framework, and future outlook," Technology in Society, Elsevier, vol. 51(C), pages 8-23.
    17. Hennig, Jan C. & Oehmichen, Jana & Steinberg, Philip J. & Heigermoser, Judith, 2022. "Determinants of common ownership: Exploring an information-based and a competition-based perspective in a global context," Journal of Business Research, Elsevier, vol. 144(C), pages 690-702.
    18. Eduardo Duque‐Grisales & Javier Aguilera‐Caracuel & Jaime Guerrero‐Villegas & Encarnación García‐Sánchez, 2020. "Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3286-3302, December.
    19. Fenghua Wen & Yujie Yuan & Wei-Xing Zhou, 2019. "Cross-shareholding networks and stock price synchronicity: Evidence from China," Papers 1903.01655, arXiv.org.
    20. Meng Li & Zengrui Tian & Qian Liu & Yuzhong Lu, 2022. "Literature Review and Research Prospect on the Drivers and Effects of Green Innovation," Sustainability, MDPI, vol. 14(16), pages 1-23, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:172:y:2024:i:c:s0148296323007750. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.