ESG information disclosure, analyst attention, and corporate green innovation

This paper utilizes data from A-share listed companies in Shanghai and Shenzhen from 2012 to 2023 to empirically examine the impact of ESG information disclosure quality (ESGDQ) and analyst attention on corporate green innovation (GI). The research results indicate that both ESGDQ and analyst attention can significantly promote corporate GI, and the conclusions remain robust after addressing endogeneity issues. Mechanism analysis reveals that analyst attention can facilitate corporate GI by enhancing ESGDQ. Heterogeneity analysis shows that the impact of ESGDQ on corporate GI differs between high-tech enterprises(HTE) and non-high-tech enterprises(NHTE). Similarly, the effect of analyst attention on corporate GI displays heterogeneity between state-owned enterprises (SOEs) and private enterprises (PEs).