Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2023.2190798
Impact of capital market openness on corporate green technology innovation: evidence from the Shanghai-Hong Kong Stock Connect program
Yixiang Li
Fusheng Wang
Sažetak
This paper explores the impact of capital market openness on
corporate green technology innovation using the Difference in
Differences model (DID) and a quasi-natural experiment with the
Shanghai-Hong Kong Stock Exchange using A-share listed corporations
data from 2011 to 2020. The findings indicate that capital
market openness has a significant promotion effect on corporate
green technology innovation. This effect is consistent using
Propensity Score Matching-Difference in Differences model (PSMDID),
counterfactual and placebo tests. Moreover, capital market
openness can indirectly stimulate corporate green technology
innovation by increasing corporate R&D investment and improving
corporate management. Notably, the promotion effect of capital
market openness on green technology innovation of SOEs
and small-scale corporations is stronger.
Ključne riječi
Capital market openness; corporate green technology innovation; Shanghai-Hong Kong Stock Connect program; corporate management
Hrčak ID:
314865
URI
Datum izdavanja:
15.5.2023.
Posjeta: 46 *