ABSTRACT We investigate whether and how CEO resilience relates to green innovation. Drawing on upper echelons and imprinting theories, we argue that resilience‐related experiences shape executives' strategic decisions and commitment to environmental innovation. Using a panel of Chinese listed firms from 2008 to 2021, we measure CEO resilience through two hand‐collected indicators: prior experience in multiple executive roles and a military or defense background. The results show that resilient CEOs are associated with significantly higher levels of green innovation. The findings remain robust across a range of specifications, including CEO turnover analysis and instrumental‐variable estimation. Additional analyses based on green patent citations indicate that CEO resilience contributes not only to the quantity but also to the quality of green innovation. We further find that resilient CEOs allocate more resources to R&D activities, exhibit stronger managerial capability, and place greater emphasis on sustainability objectives, which collectively help explain their positive association with green innovation. Moreover, the effect of CEO resilience is stronger in firms with greater resource availability and stronger external governance mechanisms. Overall, our findings highlight the importance of resilient leadership in advancing corporate environmental innovation and provide implications for boards, investors, and policymakers seeking to promote sustainable development.
Yousaf et al. (Tue,) studied this question.
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