ESG performance and innovation quality

Yanqiong Li and Sihao Li

International Review of Economics & Finance, 2024, vol. 92, issue C, 1361-1373

Abstract: Using a sample of Chinese A-share listed firms from 2009 to 2020, we examine the impact of a firm's environmental, social and governance (ESG) performance on its innovation quality. Our findings suggest that better ESG performance contributes to higher innovation quality. This conclusion remains unchanged after a series of robustness tests. Additional analysis shows that when a firm has a good internal control or a high risk-tolerance, the impact of ESG performance on innovation quality is more pronounced. Finally, we find that better ESG performance also brings higher patent value to a firm. Our results provide policy guidance on promoting ESG and high-quality innovation of firms.

Keywords: ESG; Innovation quality; Patent complexity (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:92:y:2024:i:c:p:1361-1373

DOI: 10.1016/j.iref.2024.02.063

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