ESG and green innovation: nonlinear moderation of public attention
Abstract This study investigates the impact of Environmental, Social, and Governance (ESG) on green innovation performance by analyzing data from China’s A-share listed firms in heavy-polluting industries between 2013 and 2022. We emphasize the moderating role of public attention in shaping the rela...
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| Format: | Article |
| Language: | English |
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Springer Nature
2025-05-01
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| Series: | Humanities & Social Sciences Communications |
| Online Access: | https://doi.org/10.1057/s41599-025-05002-8 |
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| author | Caixia Song Wenyuan Ma |
| author_facet | Caixia Song Wenyuan Ma |
| author_sort | Caixia Song |
| collection | DOAJ |
| description | Abstract This study investigates the impact of Environmental, Social, and Governance (ESG) on green innovation performance by analyzing data from China’s A-share listed firms in heavy-polluting industries between 2013 and 2022. We emphasize the moderating role of public attention in shaping the relationship between ESG and corporate green innovation. Key findings include: (1) ESG exhibits a robust positive effect on green innovation, with effect heterogeneity across firm characteristics. (2) Public attention demonstrates a significant inverted U-shaped moderating effect on the ESG–green innovation nexus, where moderate scrutiny enhances innovation but extreme scrutiny diminishes it. (3) Heterogeneity analysis reveals this moderating effect is more pronounced in non-state-owned enterprises, large firms, competitive markets, green patent-holding firms, capital-intensive industries, and growth-stage companies in highly marketized regions. These findings highlight public attention as a dual-edged monitoring mechanism, offering practical implications for fostering synergistic development between ESG adherence and green innovation among heavily polluting firms under “dual carbon goals”. This research also provides empirical insights for policymakers and businesses seeking to advance sustainable innovation in emerging economies. |
| format | Article |
| id | doaj-art-7b2dcc7934da4b7a91bbf8255e973c48 |
| institution | Kabale University |
| issn | 2662-9992 |
| language | English |
| publishDate | 2025-05-01 |
| publisher | Springer Nature |
| record_format | Article |
| series | Humanities & Social Sciences Communications |
| spelling | doaj-art-7b2dcc7934da4b7a91bbf8255e973c482025-08-20T03:53:58ZengSpringer NatureHumanities & Social Sciences Communications2662-99922025-05-0112111410.1057/s41599-025-05002-8ESG and green innovation: nonlinear moderation of public attentionCaixia Song0Wenyuan Ma1School of Business, Shandong Normal UniversitySchool of Business Administration, Shandong University of Finance and EconomicsAbstract This study investigates the impact of Environmental, Social, and Governance (ESG) on green innovation performance by analyzing data from China’s A-share listed firms in heavy-polluting industries between 2013 and 2022. We emphasize the moderating role of public attention in shaping the relationship between ESG and corporate green innovation. Key findings include: (1) ESG exhibits a robust positive effect on green innovation, with effect heterogeneity across firm characteristics. (2) Public attention demonstrates a significant inverted U-shaped moderating effect on the ESG–green innovation nexus, where moderate scrutiny enhances innovation but extreme scrutiny diminishes it. (3) Heterogeneity analysis reveals this moderating effect is more pronounced in non-state-owned enterprises, large firms, competitive markets, green patent-holding firms, capital-intensive industries, and growth-stage companies in highly marketized regions. These findings highlight public attention as a dual-edged monitoring mechanism, offering practical implications for fostering synergistic development between ESG adherence and green innovation among heavily polluting firms under “dual carbon goals”. This research also provides empirical insights for policymakers and businesses seeking to advance sustainable innovation in emerging economies.https://doi.org/10.1057/s41599-025-05002-8 |
| spellingShingle | Caixia Song Wenyuan Ma ESG and green innovation: nonlinear moderation of public attention Humanities & Social Sciences Communications |
| title | ESG and green innovation: nonlinear moderation of public attention |
| title_full | ESG and green innovation: nonlinear moderation of public attention |
| title_fullStr | ESG and green innovation: nonlinear moderation of public attention |
| title_full_unstemmed | ESG and green innovation: nonlinear moderation of public attention |
| title_short | ESG and green innovation: nonlinear moderation of public attention |
| title_sort | esg and green innovation nonlinear moderation of public attention |
| url | https://doi.org/10.1057/s41599-025-05002-8 |
| work_keys_str_mv | AT caixiasong esgandgreeninnovationnonlinearmoderationofpublicattention AT wenyuanma esgandgreeninnovationnonlinearmoderationofpublicattention |