Integrating reputation incentive theory with neo-institutional perspectives, this study explores the impact of CEO awards on corporate green transformation. Using data from Chinese A-share listed companies from 2008 to 2022, the study employs the Propensity Score Matching-Difference-in-Differences (PSM-DID) method. The findings indicate that CEO awards can promote corporate green transformation. Further analysis reveals that institutional pressures play a positive moderating role between CEO awards and corporate green transformation, with institutional pressures divided into three levels: regulatory pressure, normative pressure, and mimetic pressure. Heterogeneity analysis shows that the impact of CEO awards on green transformation is more significant for nonpolluting firms, non-high-tech firms, and non-capital-intensive firms. The study deepens the understanding of the executive recognition mechanism as an institutional tool and offers policy recommendations for integrating award mechanisms with sustainable governance in emerging economies.
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Wang et al. (2026) studied this question.
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