Social and Environmental Regulations and Corporate Innovation
نویسندگان
چکیده
In this study, we investigate the effects of mandatory social and environmental regulations (MSER) on firm innovation. 2008, Shanghai Shenzhen Stock Exchange in China published that mandate some public firms to disclose their governance information annual reports. As MSER apply only selected firms, provides an ideal setting for us observe Using a difference-in-differences with propensity-score-matching methodology, find treatment experience significant increase innovation terms number total patents invention patents. More importantly, further explore three possible mechanisms underlying association, is, corporate responsibility (CSR)-improving effect, information-disclosing market-reaction demonstrate positive relationship is mainly driven by CSR-improving effect manifesting improvement CSR performance decline transient institutional investors respectively.
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ژورنال
عنوان ژورنال: Sustainability
سال: 2022
ISSN: ['2071-1050']
DOI: https://doi.org/10.3390/su142316275