IDEAS home Printed from https://ideas.repec.org/a/sae/sagope/v15y2025i3p21582440251342476.html
   My bibliography  Save this article

Capital Market Liberalization, Stock Price, and Corporate Green Innovation: A Quasi-Experiment of Shanghai-Hong Kong Stock Connect

Author

Listed:
  • Wan Ying-lin
  • Jia Jiu-lu
  • Fu Jia-cheng

Abstract

This study uses the Shanghai-Hong Kong Stock Connect as a quasi-natural experiment to explore how capital market liberalization affects green innovation in China’s A-share listed firms. The findings show that the Stock Connect stimulates independent but not cooperative green innovation. This effect is driven by active investor governance and, to a lesser extent, the threat of investor exit, with the former having a more substantial positive influence. The impact is more pronounced in firms located in regions with more robust legal systems and better corporate governance. Capital market liberalization boosts firms’ motivation and capacity for green innovation, providing valuable insights for policymaking and the continued development of liberalized capital markets.

Suggested Citation

  • Wan Ying-lin & Jia Jiu-lu & Fu Jia-cheng, 2025. "Capital Market Liberalization, Stock Price, and Corporate Green Innovation: A Quasi-Experiment of Shanghai-Hong Kong Stock Connect," SAGE Open, , vol. 15(3), pages 21582440251, July.
    • Handle: RePEc:sae:sagope:v:15:y:2025:i:3:p:21582440251342476
    DOI: 10.1177/21582440251342476
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/21582440251342476
    Download Restriction: no
    File URL: https://libkey.io/10.1177/21582440251342476?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
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:sae:sagope:v:15:y:2025:i:3:p:21582440251342476. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: SAGE Publications (email available below). General contact details of provider: .

    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.