About the Journal
In Memory of Professor Jerzy Radecki
Ownership and Management Statement
Editorial Office
Editorial Board
Scope
Impact Factor
Indexed by
Journal Impact Factor contributing items
Publication Frequency
Revenue Sources & Business Model
Contact
Subscription
Current issue
Online first
Instructions for Authors
Copyright & Licensing
Publication Fees
Editorial policies
Publication Policy Overview
Peer Review Policy
Research Ethics and Malpractice Policy
Plagiarism Policy
Conflict of Interest Policy
Open Access Policy
Instructions for Reviewers
Generative AI and AI-Assisted Technologies Policy
Advertising Policy
Direct Marketing & Manuscript Solicitation
Digital Archiving and Preservation Policy
CrossMark, Correction, and Retraction Policy
Archive
Publication Fees
Copyright & Licensing
Editorial policies
Publication Policy Overview
Peer Review Policy
Research Ethics and Malpractice Policy
Plagiarism Policy
Conflict of Interest Policy
Open Access Policy
Instructions for Reviewers
Generative AI and AI-Assisted Technologies Policy
Advertising Policy
Direct Marketing & Manuscript Solicitation
Digital Archiving and Preservation Policy
CrossMark, Correction, and Retraction Policy
eISSN: 2083-5906
ISSN: 1230-1485
ISSN: 1230-1485
ORIGINAL RESEARCH
Does ESG Disclosure Improve Green
Innovation Performance of New Energy
Enterprises? Evidence from China
1
School of Accountancy, Anhui University of Finance and Economics, Anhui, China
2
College of Business & Economics, Australia National University, Canberra, Australia
3
School of Accountancy, Hebei University of Economics and Business, Hebei, China
4
School of Accountancy, Tianjin University of Finance and Economics, Tianjin, China
Submission date: 2024-04-29
Final revision date: 2024-06-09
Acceptance date: 2024-06-30
Online publication date: 2024-11-06
Publication date: 2025-06-06
Corresponding author
Pol. J. Environ. Stud. 2025;34(4):4859-4868
KEYWORDS
ESG disclosuregreen innovation performancenew energy enterprisesfinancing constraintsquality of internal controls
TOPICS
ABSTRACT
Utilizing data from Chinese A-share new energy listed companies spanning 2010 to 2022,
this study empirically investigates the impact of ESG disclosure on the green innovation performance
of new energy firms. The findings reveal that ESG disclosure significantly enhances green innovation
performance, with these results remaining robust across various tests. Mechanism analysis indicates
that ESG disclosure primarily facilitates green innovation by mitigating corporate financing constraints
and improving the quality of internal control. The heterogeneity analysis further demonstrates that
the positive effect of ESG disclosure on green innovation is more pronounced in high-tech industries,
firms with high institutional investor attention, and firms located in eastern China. This research
provides a foundation for further refinement of the ESG disclosure system and offers strategic insights
for new energy enterprises aiming to boost their innovation performance.
CONFLICT OF INTEREST
The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
REFERENCES (18)
1.
ZHANG X. ESG in China: A critical review from a legal perspective. Research Handbook on Environmental, Social and Corporate Governance. 421, 2024. https://doi.org/10.4337/978180....
2.
BAI X., HAN J., MA Y., ZHANG W. ESG performance, institutional investors' preference and financing constraints: Empirical evidence from China. Borsa Istanbul Review. 22, S157, 2022. https://doi.org/10.1016/j.bir.....
3.
LIU P., ZHU B., YANG M., CHU X. ESG and financial performance: A qualitative comparative analysis in China's new energy companies. Journal of Cleaner Production. 379, 134721, 2022. https://doi.org/10.1016/j.jcle....
4.
TANG H., XIONG L., PENG R. The mediating role of investor confidence on ESG performance and firm value: Evidence from Chinese listed firms. Finance Research Letters. 61, 104988, 2024. https://doi.org/10.1016/j.frl.....
5.
XU J., LIU F., SHANG Y. R&D investment, ESG performance and green innovation performance: evidence from China. Kybernetes. 50 (3), 737, 2021. https://doi.org/10.1108/K-12-2....
6.
CHARNES A., COOPER W.W., RHODES E. Measuring the efficiency of decision making units. European Journal of Operational Research. 2 (6), 429, 1978. https://doi.org/10.1016/0377-2....
7.
CHARNES A., COOPER W.W. Management science relations for evaluation and management accountability. Center for Cybernetic Studies, University of Texas at Austin, 1979. https://doi.org/10.21236/ADA08... PMid:261769.
8.
BANKER R.D., CHARNES A., COOPER W.W., SWARTS J., THOMAS D. An introduction to data envelopment analysis with some of its models and their uses. Research in Governmental and nonprofit Accounting. 5 (1), 125, 1989.
9.
BOULTON T.J. Mandatory ESG disclosure, information asymmetry, and litigation risk: Evidence from initial public offerings. European Financial Management. 2024. https://doi.org/10.2139/ssrn.4....
10.
KIM J.W., PARK C.K. Can ESG performance mitigate information asymmetry? Moderating effect of assurance services. Applied Economics. 55 (26), 2993, 2023. https://doi.org/10.1080/000368....
11.
JIANG S., MA Z. How does the green credit policy affect corporate ESG performance? International Review of Economics & Finance. 93, 814, 2024. https://doi.org/10.1016/j.iref....
12.
PARK S.R., JANG J.Y. The impact of ESG management on investment decision: Institutional investors' perceptions of country-specific ESG criteria. International Journal of Financial Studies. 9 (3), 48, 2021. https://doi.org/10.3390/ijfs90... PMCid:PMC10919622.
13.
ZHANG D., MENG L., ZHANG J. Environmental subsidy disruption, skill premiums and ESG performance. International Review of Financial Analysis. 90, 102862, 2023. https://doi.org/10.1016/j.irfa....
14.
YUAN X., LI Z., XU J., SHANG L. ESG disclosure and corporate financial irregularities-Evidence from Chinese listed firms. Journal of Cleaner Production. 332, 129992, 2022. https://doi.org/10.1016/j.jcle....
15.
HARASHEH M., PROVASI R. A need for assurance: Do internal control systems integrate environmental, social, and governance factors? Corporate Social Responsibility and Environmental Management. 30 (1), 384, 2023. https://doi.org/10.1002/csr.23....
16.
TSANG A., FROST T., CAO H. Environmental, social, and governance (ESG) disclosure: A literature review. The British Accounting Review. 55 (1), 101149, 2023. https://doi.org/10.1016/j.bar.....
17.
YAN H., LI Y., ZHONG Y., XIA Z. Will the 'government-court coordination' of corporate bankruptcy disposal improve ESG performance? Evidence from China. Applied Economics Letters. 1, 2024. https://doi.org/10.1080/135048....
18.
ZHAO J., QU J., WEI J., YIN H., XI X. The effects of institutional investors on firms' green innovation. Journal of Product Innovation Management. 40 (2), 195, 2023. https://doi.org/10.1111/jpim.1....
CITATIONS (10):
1.
Short-term relief or long-term risk? The impact of financial asset allocation on corporate risk in China’s construction and manufacturing firms
Youyuan Peng, Qiongwen Zhang, Han Yan, Xue Lei, Shenglin Ma
Journal of Asian Architecture and Building Engineering
Youyuan Peng, Qiongwen Zhang, Han Yan, Xue Lei, Shenglin Ma
Journal of Asian Architecture and Building Engineering
2.
From Loom to Algorithm: How Digital Technologies Drive Quality Development in the Textile Sector
Shenglin Ma, Huifang Liu, Hongjun Zeng, Ding Li, Han Yan
The Journal of The Textile Institute
Shenglin Ma, Huifang Liu, Hongjun Zeng, Ding Li, Han Yan
The Journal of The Textile Institute
3.
Using ArcGIS and GeoDetector to evaluate the spatial differentiation characteristics and driving causes of Guangdong’s traditional villages
Mingming Yang, Zanariah Binti Jasmani
Journal of Asian Architecture and Building Engineering
Mingming Yang, Zanariah Binti Jasmani
Journal of Asian Architecture and Building Engineering
4.
Corporate environmental controversy prediction model verification and application in climate change: Performance improvement based on stacking method
Dongsun Kim, Eunbi Kim, Joonyup Eun
Journal of Cleaner Production
Dongsun Kim, Eunbi Kim, Joonyup Eun
Journal of Cleaner Production
5.
From Competition to Collaboration: The Evolutionary Dynamics Between Economic and Ecological Departments in Sustainable Land-Use Planning
Guojia Li, Cheng Zhou
Land
Guojia Li, Cheng Zhou
Land
6.
Stock liquidity and signaling sustainability in emerging markets: Voluntary ESG disclosure, firm valuation, and institutional investor participation
Jaime F. Lavin, Paulo Buchuk, Mauricio A. Valle, Nicolás S. Magner
Journal of Cleaner Production
Jaime F. Lavin, Paulo Buchuk, Mauricio A. Valle, Nicolás S. Magner
Journal of Cleaner Production
7.
Entangled value: actor–network configurations and ESG pathways in China’s textile value chain
Shenglin Ma, Ding Li, Han Yan
The Journal of The Textile Institute
Shenglin Ma, Ding Li, Han Yan
The Journal of The Textile Institute
8.
The impact of artificial intelligence on corporate greenwashing: evidence from the New Generation of Artificial Intelligence Innovation and Development Pilot Zones Policy
Xiao Wang, Xukuo Gao, Meng Sun, Chenxi Zheng
Environmental Sciences Europe
Xiao Wang, Xukuo Gao, Meng Sun, Chenxi Zheng
Environmental Sciences Europe
9.
Tangled knowledge: mapping research hotspots and emerging frontiers in textile technology through bibliometric analysis
Huifang Liu, Han Yan, Hongjun Zeng, Tao Hu, Shenglin Ma
AUTEX Research Journal
Huifang Liu, Han Yan, Hongjun Zeng, Tao Hu, Shenglin Ma
AUTEX Research Journal
10.
Low carbon buildings and regional prosperity: the economic growth effects of energy efficiency and environmental performance in China’s Construction industry
Zhuoxian Zheng, Naiwen Zhang, Kaili Li, Xuran Gao
Journal of Asian Architecture and Building Engineering
Zhuoxian Zheng, Naiwen Zhang, Kaili Li, Xuran Gao
Journal of Asian Architecture and Building Engineering
Share
RELATED ARTICLE
| eISSN: | 2083-5906 |
| ISSN: | 1230-1485 |
We process personal data collected when visiting the website. The function of obtaining information about users and their behavior is carried out by voluntarily entered information in forms and saving cookies in end devices. Data, including cookies, are used to provide services, improve the user experience and to analyze the traffic in accordance with the Privacy policy. Data are also collected and processed by Google Analytics tool (more).
You can change cookies settings in your browser. Restricted use of cookies in the browser configuration may affect some functionalities of the website.
You can change cookies settings in your browser. Restricted use of cookies in the browser configuration may affect some functionalities of the website.
