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The synergistic effect of carbon performance and technological innovation on corporate financial performance

In order to further implement the goal of “dual carbon” proposed by China’s government, and promote energy enterprises to carry out low-carbon economic transformation, this paper takes listed companies in China’s A-share energy industry from 2014 to 2019 as samples to conduct descriptive statistics,...

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Autores principales: Yan, Jin, Zhou, Hui, Mu, Jialin, Zhang, Ying, Rahman, Airin
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Frontiers Media S.A. 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9763278/
https://www.ncbi.nlm.nih.gov/pubmed/36562057
http://dx.doi.org/10.3389/fpsyg.2022.1060042
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author Yan, Jin
Zhou, Hui
Mu, Jialin
Zhang, Ying
Rahman, Airin
author_facet Yan, Jin
Zhou, Hui
Mu, Jialin
Zhang, Ying
Rahman, Airin
author_sort Yan, Jin
collection PubMed
description In order to further implement the goal of “dual carbon” proposed by China’s government, and promote energy enterprises to carry out low-carbon economic transformation, this paper takes listed companies in China’s A-share energy industry from 2014 to 2019 as samples to conduct descriptive statistics, correlation test and regression analysis, and empirically studies the impact of carbon performance and technological innovation on financial performance of China’s energy industry as well as their roles under different property rights. At the same time, the variables were delayed for one period to investigate the sustainability of carbon performance and technological innovation on financial performance and to weaken the endogeneity of the reverse causality between financial performance, carbon performance and technological innovation. The results show that good carbon performance and technological innovation in the energy industry can positively affect the financial performance of enterprises. During the research of interactive relationship, we find that carbon performance and technological innovation have synergistic effect on energy firm’s financial performance, which means technology innovation can significantly positive to adjust the action of carbon performance on financial performance,and carbon performance at the same time can also be positive to adjust the action of technology innovation on financial performance. They mutually promote energy enterprise’s financial performance. Further experimental research among different property- rights-owned enterprises, we found that the synergistic effects of carbon performance and technological innovation on corporate financial performance is much more significant in non-state-owned enterprises, possibly due to private firms’ capital profit-seeking nature. The results will guide and inspire China’s energy enterprises’ low carbon development strategy formulation and implementation under the background of “dual carbon” goal.
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spelling pubmed-97632782022-12-21 The synergistic effect of carbon performance and technological innovation on corporate financial performance Yan, Jin Zhou, Hui Mu, Jialin Zhang, Ying Rahman, Airin Front Psychol Psychology In order to further implement the goal of “dual carbon” proposed by China’s government, and promote energy enterprises to carry out low-carbon economic transformation, this paper takes listed companies in China’s A-share energy industry from 2014 to 2019 as samples to conduct descriptive statistics, correlation test and regression analysis, and empirically studies the impact of carbon performance and technological innovation on financial performance of China’s energy industry as well as their roles under different property rights. At the same time, the variables were delayed for one period to investigate the sustainability of carbon performance and technological innovation on financial performance and to weaken the endogeneity of the reverse causality between financial performance, carbon performance and technological innovation. The results show that good carbon performance and technological innovation in the energy industry can positively affect the financial performance of enterprises. During the research of interactive relationship, we find that carbon performance and technological innovation have synergistic effect on energy firm’s financial performance, which means technology innovation can significantly positive to adjust the action of carbon performance on financial performance,and carbon performance at the same time can also be positive to adjust the action of technology innovation on financial performance. They mutually promote energy enterprise’s financial performance. Further experimental research among different property- rights-owned enterprises, we found that the synergistic effects of carbon performance and technological innovation on corporate financial performance is much more significant in non-state-owned enterprises, possibly due to private firms’ capital profit-seeking nature. The results will guide and inspire China’s energy enterprises’ low carbon development strategy formulation and implementation under the background of “dual carbon” goal. Frontiers Media S.A. 2022-12-06 /pmc/articles/PMC9763278/ /pubmed/36562057 http://dx.doi.org/10.3389/fpsyg.2022.1060042 Text en Copyright © 2022 Yan, Zhou, Mu, Zhang and Rahman. https://creativecommons.org/licenses/by/4.0/This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
spellingShingle Psychology
Yan, Jin
Zhou, Hui
Mu, Jialin
Zhang, Ying
Rahman, Airin
The synergistic effect of carbon performance and technological innovation on corporate financial performance
title The synergistic effect of carbon performance and technological innovation on corporate financial performance
title_full The synergistic effect of carbon performance and technological innovation on corporate financial performance
title_fullStr The synergistic effect of carbon performance and technological innovation on corporate financial performance
title_full_unstemmed The synergistic effect of carbon performance and technological innovation on corporate financial performance
title_short The synergistic effect of carbon performance and technological innovation on corporate financial performance
title_sort synergistic effect of carbon performance and technological innovation on corporate financial performance
topic Psychology
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9763278/
https://www.ncbi.nlm.nih.gov/pubmed/36562057
http://dx.doi.org/10.3389/fpsyg.2022.1060042
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