Study On The Influence Of Green Image On Sustainable Green Innovation Of Enterprises

Green innovation is an important tool to achieve environmental sustainability and is beneficial to enterprises to gain competitive advantages.With the improvement of public environmental awareness,more and more enterprises join in environmental management and attach importance to their green image.However,while claiming green development,some companies have frequently exposed environmental pollution.Especially for those enterprises that have gained a good green image,they should make continuous efforts to further carry out green innovation activities.Or stop there and do not carry out green innovation activities in the short term?This is a real problem worth exploring in depth.In the past,scholars mostly studied from the analytical logic that green innovation activities of enterprises are conducive to obtaining green image,but seldom paid attention to whether enterprises have enough motivation to continue to carry out a new round of green innovation after obtaining a good green image,so as to form a long-term mechanism of green development of enterprises.Based on signal theory,neo-institutional theory,government intervention theory and reputation theory In this paper,we choose the most polluting A-share listed companies in Shanghai and Shenzhen Stock Exchange between 2013 and 2020.of the influence of corporate green image on green innovation behavior.Stata16.0 is used for empirical test.Group regression is conducted according to property right nature,enterprise life cycle and enterprise size to verify the differences in different group cases.On this basis,the intermediary variable of government subsidies is further introduced to explain the mechanism of the influence of corporate green image on green innovation behavior,and the moderating variable of product market competition intensity is introduced to explain the influence of specific situational factors on the relationship between corporate green image and green innovation.The findings are as follows:(1)the acquired green image further promotes the green innovation of enterprises.This shows that the acquired green image can encourage enterprises to make continuous efforts in green innovation activities.(2)Government subsidies promote corporate green innovation and play an intermediary role in the relationship between green image and green innovation.This shows that the green image acquired helps enterprises to obtain more government subsidies,and this subsidy indeed helps enterprises to carry out the next stage of green innovation activities.(3)The intensity of product market competition negatively moderates the relationship between green image and corporate green innovation,and the relationship between government subsidies and green innovation.This indicates that when the competition in the product market is very fierce,enterprises are more likely to have short-sighted behaviors and tend to use the government subsidies to other investment directions that can produce short-term performance,thus crowding out further investment in green innovation and making green innovation activities stop here.(4)The promotion effect of the acquired green image on the subsequent green innovation behavior only occurred in state-owned enterprises and mature enterprises.Especially,in small and medium-sized enterprises,green image significantly inhibits green innovation behavior.In this paper,hysteretic variables were adopted in the process of data processing to reduce the influence of endogenous problems,and robustness tests were carried out through propensity score matching,changing independent variables,changing models,eliminating data and other methods,and the results were robust.In order to encourage enterprises to make continuous efforts to carry out green innovation activities after establishing a good green image,and form a long-term mechanism of green development,this paper proposes to actively disclose environmental information,strengthen the establishment of green image,and promote enterprises to fulfill their social responsibilities.Establish and improve a scientific and reasonable government subsidy review mechanism;Create a fair product market competition atmosphere,reduce malicious competition;Use emerging media and various platforms to promote green innovation and create an atmosphere for innovation.