Green knowledge trading and corporate energy efficiency: asymmetric effects of patent inflows and outflows

Purpose This paper aims to examine how the exchange of green knowledge affects corporate energy efficiency. This study focuses on determining whether green knowledge flows in different directions produce asymmetric effects on energy efficiency and how green knowledge flows are transformed into energy-saving performance through internal knowledge management processes within firms. Design/methodology/approach This paper uses the acquisition and sale of green patents by firms to measure the inflow and outflow of green knowledge, respectively. An empirical analysis is conducted using panel data from Chinese A-share listed companies between 2012 and 2023. Findings Green patent acquisition significantly improves energy efficiency, whereas sale has no independent effect once acquisition is controlled for. The asymmetry arises because acquisition triggers organizational knowledge absorption processes that sale does not. Patent acquisition can improve corporate energy efficiency through two mechanisms: knowledge diversification and digital knowledge management capabilities. Heterogeneity analysis indicates that the energy efficiency effects of purchasing green patents vary across different companies and regions. Originality/value This paper distinguishes between two types of knowledge flows – green patent sales and purchases – and verifies their asymmetric effects on energy efficiency. This paper extends research on the heterogeneity of knowledge flows to the field of energy efficiency, providing new empirical evidence for understanding how green knowledge transactions can facilitate companies’ low-carbon transitions.