Does digital finance promote the "quantity" and "quality" of green innovation? A dynamic spatial Durbin econometric analysis

Based on the panel data of 284 prefecture-level cities in China, this paper uses the dynamic spatial Durbin model to explore the impact of digital finance on green innovation from the dimensions of "quantity" and "quality." The results show that digital finance has a positive impact on both the quality and quantity of green innovation in local cities, but the development of digital finance in neighboring cities has a negative impact on the quantity and quality of green innovation in local cities, and the impact on the quality of green innovation is greater than that on the quantity of green innovation. And after a series of robustness tests, it was shown that the above conclusions are robust. In addition, digital finance can have a positive impact on green innovation mainly through industrial structure upgrading and informatization level. Heterogeneity analysis shows that the breadth of coverage and the degree of digitization are significantly related to green innovation, and digital finance has a more significant positive impact in eastern cities than in mid-western cities.

Corporate Environmental Protection Behavior and Sustainable Development: The Moderating Role of Green Investors and Green Executive Cognition

Faced with serious environmental problems, companies have become important participants in environmental protection efforts. By assuming environmental responsibilities and pursuing environmental protection, enterprises can create a good image, gain public and government support, and expand their influence. Simultaneously, green executive cognition and green investors play important roles in enterprises and the market economy. This study examines whether the environmental protection behavior of enterprises has a positive impact on their sustainable development, and how green investors and green executive cognition affect the relationship between environmental protection and sustainable development. This study adopts a fixed effects regression method to research Chinese A-share listed companies in 2011-2020. The results show that enterprises' performance regarding environmental responsibilities or investment promotes sustainable development. The higher the participation of green investors or the higher the awareness of green executives, the more the environmental responsibility performance and environmental investment promote enterprises' sustainable development. This study enriches the literature on the environmental protection behavior of enterprises and the sustainable development of enterprises as well as provides a theoretical foundation for related research. Moreover, the role of green investors and green executive cognition in promoting environmental protection and the sustainable development of enterprises will inspire investors and executives.

Executives' ESG cognition and enterprise green innovation: Evidence based on executives' personal microblogs

Based on cognitive theory, we investigated the influence of executives' ESG cognition on corporate green innovation using data from Chinese manufacturing listed companies from 2010 to 2019. The paper first constructs a metric of ESG cognition of company executives by presenting a quantitative analysis of data from their personal microblogs using textual analysis. The findings show that executive ESG perceptions significantly improve corporate green innovation. After addressing the endogeneity issue through a series of robustness tests, the findings of this paper still held true. Further research found that the enhancement effect of executive ESG perceptions on firms' green innovation level was mainly found in the sample without heavy pollution and with lower financing constraints and a higher marketization process. This study makes an important contribution to the research on corporate green innovation based on the perspective of executive ESG cognition while also providing a theoretical basis and practical reference for corporate green innovation practices.

Identifying the factors affecting strategic decision-making ability to boost the entrepreneurial performance: A hybrid structural equation modeling – artificial neural network approach

This study builds a conceptual model of strategic decision-making ability that leads to entrepreneurial performance (EP) based on the two-system decision-making theory and logical analysis. An empirical approach using structural equation modeling – artificial neural network (SEM-ANN) was performed to describe the linear and nonlinear relationships in the proposed model. The empirical results reveal that strategic decision-making abilities are affected by five factors: attention, memory, thinking, emotion, and sentiment, and whose influence mechanisms and degrees are varied. Results also describe that these abilities have a positive effect on overall EP. Therefore, results suggest that businesses’ strategic decision-making is usually strengthened when entrepreneurs have a clear understanding of these influencing elements, and the interaction between them leads to improved performance.