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The innovation incentive effect of green investors: evidence from fund holdings

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  • Maolin Li
  • Yan Li
  • Zhen Li
  • Di Wang

Abstract

Using data from China A-share non-financial listed firms and mutual funds between 2010–2020, we investigate green investors’ impact on corporate green innovation. Consonant with the received literature, we find a significant incentivization effect, where green shareholders positively influence innovation by improving governance and mitigating financial constraints. This result suggests that incentivization is more pronounced in the realm of utility innovation and within state-owned enterprises. Explores the effect of green investors on listed Chinese firms’ green innovation.Green investor promotes green innovation by monitoring and financial supporting mechanisms.Innovation incentive of green investors differs by patent type and ownership.This study clarifies how the green financial system drives green business behaviour.

Suggested Citation

  • Maolin Li & Yan Li & Zhen Li & Di Wang, 2026. "The innovation incentive effect of green investors: evidence from fund holdings," Applied Economics Letters, Taylor & Francis Journals, vol. 33(1), pages 142-149, January.
    • Handle: RePEc:taf:apeclt:v:33:y:2026:i:1:p:142-149
    DOI: 10.1080/13504851.2024.2363999
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