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Technological diversification has become an effective way to enhance corporate innovation. However, previous studies on technological diversification have focused on technological domains but overlooked the types of technological effects. We examine whether technological effect diversification affects corporate green innovation. Using Bert-based text classification and a panel dataset on Chinese listed firms from 2000 to 2021, we find that technological effect diversification positively affects green innovation. Moderating effect analysis demonstrates that the relationship is more pronounced for firms subject to strong environmental regulation and firms in more competitive industries. Heterogeneity analysis proves that the effect is particularly prominent for state-owned enterprises and firms in high-tech industries. This study extends the resource-based view by demonstrating that technological resources should not only be classified from the supply perspective, such as knowledge domains, but also from the demand side. We offer critical implications for firms’ technological strategies and innovation management.
Wei et al. (Sat,) studied this question.