Climate policy uncertainty and corporate green innovation performance: From the perspectives of organizational inertia and management internal characteristics

Abstract The impact of policy uncertainty caused by climate change has attracted widespread attention, but there are few studies on the relationship between climate policy uncertainty and corporate green innovation performance. This paper uses a sample of the A‐share listed companies in Shanghai and Shenzhen from 2007 to 2020 to explore the impact of climate policy uncertainty on corporate green innovation performance. And this paper also studies the moderating effect of organizational inertia and the joint moderating effects of managerial openness and organizational inertia, as well as managerial risk‐taking propensity and organizational inertia. The results show that climate policy uncertainty positively affects corporate green innovation performance. And organizational inertia can positively moderate the impact of climate policy uncertainty on corporate green innovation performance. Besides, managerial openness and organizational inertia, as well as managerial risk‐taking propensity and organizational inertia, jointly moderate the impact of climate policy uncertainty on corporate green innovation performance. When both managerial openness and organizational inertia are higher, the positive impact of climate policy uncertainty on corporate green innovation performance is the strongest. When both managerial risk‐taking propensity and organizational inertia are lower, the positive impact of climate policy uncertainty on corporate green innovation performance is the weakest.