The long-term existence of administrative governance models has led to insufficient internal motivation for green innovation in state-owned enterprises. In the context of deepening mixed ownership reform, will market-oriented non-state-owned shareholders who are given more “discourse power” to the board of directors enhance the driving force of green technology innovation in state-owned enterprises? Based on the data from China’s A-share state-owned listed companies from 2013 to 2020, this paper studies the impact of directors appointed by non-state-owned shareholders on green technology innovation in state-owned enterprises. The results indicate that state-owned enterprises with directors appointed by non-state-owned shareholders have significantly more green technology innovation, and the higher the proportion of directors appointed by non-state-owned shareholders, the more green technology innovation state-owned enterprises have. Further research indicates that directors appointed by non-state-owned shareholders can promote green technology innovation in state-owned enterprises by reducing government intervention and improving executive incentives. The level of financing constraints faced by state-owned enterprises will significantly reduce the impact of directors appointed by non-state-owned shareholders on green technology innovation in state-owned enterprises. The more government subsidies, the stronger environmental regulations, and the longer tenure of executives, the greater the impact of directors appointed by non-state-owned shareholders on green technology innovation in state-owned enterprises. This paper enriches the research on the non-economic consequences of directors appointed by non-state-owned shareholders in governance from the perspective of green technology innovation, explains the path and situational factors that directors appointed by non-state-owned shareholders have a positive impact on green technology innovation in state-owned enterprises, and has certain policy reference value for deepening state-owned enterprise reform and improving the economic governance of state-owned enterprises.
/ Journals / Foreign Economics & Management
Foreign Economics & Management
LiZengquan, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
YinHuifang HeXiaogang LiuJianguo, Vice Editor-in-Chief
The Impact of Directors Appointed by Non-state-owned Shareholders on Green Technology Innovation in State-owned Enterprises
Foreign Economics & Management Vol. 46, Issue 04, pp. 3 - 18 (2024) DOI:10.16538/j.cnki.fem.20230615.101
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Li Weian, Yi Minghui. The Impact of Directors Appointed by Non-state-owned Shareholders on Green Technology Innovation in State-owned Enterprises[J]. Foreign Economics & Management, 2024, 46(4): 3-18.
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