Research On The Peer Effect Of Green Innovation In Manufacturing Enterprise

In light of the shift in economic growth models and the emergence of the new normal economy,enterprises are confronted with dual constraints,namely,the scarcity of resources and environmental degradation.It is increasingly difficult for enterprises to sustain long-term development with the previous crude and factor-driven approach,while the single-minded pursuit of economic benefits is no longer conducive to sustainable development.Manufacturing enterprises,in particular,have a significant impact on the environment,contributing to environmental problems such as resource depletion,climate change,and atmospheric pollution.To address these issues,the "Made in China 2025" national strategy has called for manufacturing companies to adhere to relevant requirements and promote green innovation,thus transforming the economy and society.This initiative is crucial to achieving carbon peaking and carbon neutrality targets and creating a sustainable competitive advantage for China’s manufacturing enterprises.Green innovation is a vital means of achieving economic and social development and environmental protection.Given the existence of inter-firm decision-making interactions,however,green innovation activities among enterprises are not entirely independent and may be influenced by other companies in the same industry.This thesis seeks to investigate the presence of a green innovation cohort effect in manufacturing enterprises,the trigger mechanism for its formation,and the role of external contextual factors in the cohort effect from a cohort effect perspective,using panel data from A-share listed manufacturing firms between 2011 and 2020.The thesis’ s research approach is to first analyze the impact of green innovation behavior in the industry cohort firms on the focal firm based on social learning theory,dynamic competition theory,and organizational legitimacy theory.This analysis aims to clarify the existence of the green innovation cohort effect.Second,the thesis examines the impact of managerial reputation,industry competitive pressure,and information access on the green innovation cohort effect,using higher echelon theory,dynamic competition theory,and information asymmetry theory.This analysis aims to clarify the trigger for the formation of the cohort effect.Finally,the thesis incorporates digital inclusive finance and government intervention into the research framework to explore the reference role of external contextual factors in the cohort effect of green innovation.The findings of this study indicate that there is an industry cohort effect on green innovation and that the green innovation behavior of focal firms is influenced by industry cohorts.Managers tend to follow the green innovation behavior of their peers and adjust their own green innovation decisions to avoid damage to their reputation.Additionally,the emergence of the green innovation cohort effect is influenced by the competitive pressure in the industry,which is also the trigger mechanism for the formation of the green innovation cohort effect.Digital financial inclusion can promote the cohort effect of green innovation,and as the level of digital financial inclusion increases,the cohort effect of green innovation becomes more significant.Government intervention can also promote the cohort effect of green innovation,but excessive government intervention may hinder healthy interaction and information exchange among enterprises in the same industry and weaken the cohort effect of green innovation.The research contributions of this thesis include extending the study of green innovation influences to the industry level,providing further insight into the motivations of firms to adopt green innovation strategies,and filling the research gap through empirical evidence.The impact of external financial institutions and the government on the green innovation cohort effect has also been extended,providing a more comprehensive perspective for green innovation research and a useful reference for the government to guide the green innovation activities of enterprises.