Can Green Technology Innovation Reduce the Operational Risks of Energy-Intensive Enterprises?

Many countries have adopted carbon regulatory policies in pursuit of neutrality, which pose great transition risks for energy-intensive sectors. Using the panel data 186 Chinese listed enterprises sector from 2007 to 2019, this study investigates impact green technology innovation on corporate operation risks. Empirical evidence shows that can effectively reduce their operational by participating activities. This also proves mechanism obtaining support public and enhancing investor confidence capital market, while improving recognition consumer market is insignificant. Climate policy uncertainty weakens stabilizing effect In addition, has a weak state-owned enterprises, government subsidy strengthen effect. Finally, varies region, period, scale ownership. its findings provide theoretical insights risk management industries analysis realization value behavior.