Can Mixed-Ownership Reform Drive the Green Transformation of SOEs?
| Autor: | Muhammad Asif Khan, Nosherwan Khaliq, Runsen Yuan, Chunling Li, Xiaoran Sun, Nian Li |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Technology
Control and Optimization Energy Engineering and Power Technology Shareholder 0502 economics and business Electrical and Electronic Engineering mixed-ownership reform Engineering (miscellaneous) environmental protection subsidy Industrial organization Sustainable development sustainable development 050208 finance environmental responsibility Renewable Energy Sustainability and the Environment Corporate governance 05 social sciences Equity (finance) Subsidy green innovation Business Marketization Social responsibility 050203 business & management Energy (miscellaneous) Panel data |
| Zdroj: | Energies; Volume 14; Issue 10; Pages: 2964 Energies, Vol 14, Iss 2964, p 2964 (2021) |
| ISSN: | 1996-1073 |
| DOI: | 10.3390/en14102964 |
| Popis: | In the construction of ecological civilization, green innovation has become an important driving force for the sustainable development of state-owned enterprises (SOEs). This paper uses panel data of state-owned listed enterprises from 2008 to 2019 to explore mixed-ownership reform’s influence on the green transformation of SOEs and its specific mechanisms. The results show that the diversity of mixed shareholders, the depth of mixed equity, and the restriction of mixed equity significantly promote the SOEs’ green innovation. Moreover, there are distinctions in the impact of the shareholding ratio of heterogeneous shareholders on green innovation. Only the increase in the shareholding ratio of foreign shareholders has a positive correlation with green innovation. The mechanism tests indicate that the mixed-ownership reform plays a governance role in the green transformation of SOEs by optimizing the reasonable allocation of environmental protection subsidies and propelling environmental social responsibility’s active performance. Our study further subdivides the significant promotion effect of mixed-ownership reform on green innovation, finding that it only exists in the SOEs in heavily polluting industries and regions with a high degree of marketization. Finally, we find that the ownership structure adjustment caused by the mixed-ownership reform has improved SOEs’ environmental management system and facilitated its sustainable development capabilities. |
| Databáze: | OpenAIRE |
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