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| CEO's Academic Experience and Enterprise's Green Innovation:The Dual Perspective of Environmental Attention Allocation and Industry University Research Cooperation Empowerment |
| Yin Jianhua1,Shuang Qi1,2 |
| (1.Business School, University of International Business and Economics, Beijing 100029,China; 2.School of Economics and Management,Taiyuan University of Science and Technology,Taiyuan 030000,China) |
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Abstract Climate change and environmental pollution areincreasingly serious. Chinese government has put forward the goal of carbon emission peak and carbon neutralization, raising environmental protection to the level of national strategy. As the technical support of pollution reduction, green innovation constitutes an important engine for the green development of enterprises. External environmental regulation may improve enterprise green innovation. However, in order to obtain better economic performance, lax environmental law enforcement of local governments in China occurs from time to time, leading to the unsatisfactory effect of environmental regulation. At the same time, the financial resources provided by the government can not completely solve the problem of the shortage of knowledge resources. Therefore, there are certain limitations of external forces to promote enterprise green innovation. Above all, the improvement of enterprises' green innovation level depends more on the endogenous power and the ability to obtain knowledge resources,and how to stimulate enterprises to pay more attention to environmental protection and obtain the knowledge resources required by green innovation are the dual problems to be solved for the Chinese enterprises.#br#According to the upper echelons theory, the personality traits and past experience of enterprise managers will affect the decision-making of enterprises. At the same time, the social capital of managers is the important resources of enterprises. However, few literatures paid attention to the impact of CEO academic experience on enterprise green innovation. This study discusses the impact of CEO's academic experience on green innovation from the perspective of upper echelons theory. Combined with the attention-based view and resource-based view, this paper analyzes the intermediary effect of environmental attention and industry university research cooperation and also makes an in-depth analysis of the effect of academic experience from three aspects: professional title, discipline background and the institutional level. Finally, from the perspective of informal institution, this paper studies the moderating effect of social trust and Confucian culture on the relationship between CEO academic experience and green innovation.#br#In this study the China's A-share manufacturing listed companies from 2008 to 2019 are taken as the research sample. The research results show that firstly CEO's academic experience can promote the enterprise's green innovation. CEO's academic experience can not only enhance the willingness of green innovation through the shaping of environmental protection spirit, but also help enterprises obtain knowledge resources, thus promting enterprise's green innovation. Secondly when CEO obtains a high professional title, or gets engaged in engineering major and in high-level academic institutions during his academic experience, the human capital and social capital effects of CEO green innovation will be more pro-ent. Thirdly from the perspective of external environment, the social trust and Confucian cultural atmosphere of the company's location enhance the promotion effect of CEO's academic experience on the level of green innovation of enterprises. Lastly the mediating mechanism test shows that CEOs with academic experience plays the effects of human capital and social capital in green innovation. The values, identity maintenance motivation and long-term orientation shaped by academic experience reinforce the CEO's environmental awareness, and urge them to embed into academic social network, and improve enterprise green innovation level by promoting enterprise industry university research cooperation and increasing enterprise innovation knowledge source.#br#The main contributions of this study are as follows. (1) Very few literatures have paid attention to the impact of CEO academic experience on enterprise green innovation and the impact mechanism. This study enriches the research on the driving factors of enterprise green innovation from the perspective of upper echelons theory. (2) The existing literature mostly focus on whether academic experience has the level of academic experience, and lack systematic analysis on the characteristics of academic experience. This paper makes up for this defect. It studies the characteristics of academic experience from the aspects of professional title, discipline background and institutional level, expanding the research on CEO's academic experience. (3) The existing literature mainly focus on the impact of media attention, public pressure and religious belief on green innovation. By analyzing the moderating effect of social trust and Confucian culture, this paper expands the research of informal institution on green innovation.#br#
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Received: 22 September 2021
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