October 9, 2025South African Journal of Economic and Management Sciences

How do controlling shareholder pledges affect corporate green innovation: Evidence from China

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Authors

LLLexuan LiuYunnan University of Finance And Economics PLPengzhen LiuJinan University

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Implication

This investigation reveals how equity pledges by controlling shareholders diminish green innovation, indicating a need for better governance and oversight.

Key Points

Controlling shareholders' equity pledges significantly reduce green innovation efforts by lowering R&D investment.
The adverse impact is primarily mediated through worsened ESG performance and tighter financing constraints.
Certain firm characteristics, like low pledge ratios or state ownership, can mitigate these negative effects.
This study offers insights into shareholder behavior's impact on sustainable development in emerging markets.

Cite This Study

Liu et al. (2025) studied this question.

synapsesocial.com/papers/68e70db290569dd607ee62dc https://doi.org/10.4102/sajems.v28i1.6286

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Implication

This investigation reveals how equity pledges by controlling shareholders diminish green innovation, indicating a need for better governance and oversight.

How do controlling shareholder pledges affect corporate green innovation: Evidence from China

Discussion

Member takes

Implication

Key Points

Cite This Study

How do controlling shareholder pledges affect corporate green innovation: Evidence from China

Discussion

Member takes

Implication

Key Points

Cite This Study

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