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<p>In this study, we contend that corporate environmental responsibility (CER) unfolds into two distinct dimensions: CER strength and CER concern. Along this line, the purpose of the study was to investigate the impact of CER strength and CER concern on manufacturing firms’ green innovation and firm performance. We also examined the mediating role of green innovation on the CER strength-financial performance and CER concern-financial performance relationships. Employing the feasible generalized least squares estimation methodology, secondary data from 281 public listed firms were selected as the population of the study. Data from time period of 5&#xa0;years from 2015–2019 were gathered from China Stock Market &amp; Accounting Research (CSMAR) and the Chinese Research Data Services (CNRD) databases. The results&#xa0;of this study show&#xa0;that CER strength has a positive effect on green innovation and a negative correlation between CER concern and green innovation. This study also finds that green innovation partially mediates between CER strength and financial performance. However, green innovation did not mediate the relationship between CER concern and financial performance This nuanced exploration unravels a novel relationship dynamic between CER strength, CER concern, green innovation and firm performance.</p>

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Balancing acts: Unveiling the bidimensional influence of corporate environmental responsibility on Chinese manufacturing firms’ green innovation and financial performance

  • 期刊论文

  • 发表日期：

    2025年4月30日

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  • Liu Zhilei,
  • Jo Ann Ho,
  • Shivee Ranjanee

摘要

In this study, we contend that corporate environmental responsibility (CER) unfolds into two distinct dimensions: CER strength and CER concern. Along this line, the purpose of the study was to investigate the impact of CER strength and CER concern on manufacturing firms’ green innovation and firm performance. We also examined the mediating role of green innovation on the CER strength-financial performance and CER concern-financial performance relationships. Employing the feasible generalized least squares estimation methodology, secondary data from 281 public listed firms were selected as the population of the study. Data from time period of 5 years from 2015–2019 were gathered from China Stock Market & Accounting Research (CSMAR) and the Chinese Research Data Services (CNRD) databases. The results of this study show that CER strength has a positive effect on green innovation and a negative correlation between CER concern and green innovation. This study also finds that green innovation partially mediates between CER strength and financial performance. However, green innovation did not mediate the relationship between CER concern and financial performance This nuanced exploration unravels a novel relationship dynamic between CER strength, CER concern, green innovation and firm performance.