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• Biodiversity risk positively enhances corporate green innovation, especially substantial green innovation. • Biodiversity risk significantly promotes high-quality substantive green innovation through external management mechanisms, such as increased analyst attention and government green subsidies, and internal governance mechanisms that mitigate managerial myopia. • Biodiversity risk effectively enhances corporate green innovation in high-tech firms, non-SOEs, highly competitive industries, and low financing constraints. • CEO green experience can strengthen the effect of biodiversity risk on green innovation, while technology diversification weakens the effect. • The positive relationship between biodiversity risk and corporate green innovation remains robust after addressing endogeneity.
Pi et al. (Fri,) studied this question.