The value of corporate green innovation strategy

Yang Jing; Liu Qiuhua; Shi Jianjun

Science Research Management ›› 2015, Vol. 36 ›› Issue (1) : 18-25.

Yang Jing¹, Liu Qiuhua¹, Shi Jianjun²

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Abstract

In the field of corporate environment management research, it is widely recognized to consider environment issues on the corporate strategy level. However, the literature about contingency of positive effect of green innovation strategy is very limited. Based on the natural resource based theory of Hart (1995) and the complementary assets theory of Teece (1986), we empirically studied the impact of corporate green innovation strategy on enterprise value, furthermore, we explored the influence mechanism of internal critical capabilities and resources (innovation ability and organization redundancy) on impact of corporate green innovation strategy on enterprise value. Using method of content analysis, we collected the public available data of listed companies in Jiangsu Province. The empirical results showed that: (1) at this period in China, green Innovation strategy and enterprise value was negatively correlated significantly; (2) innovation ability had positive moderate effect on the relationship between green Innovation strategy and enterprise value; (3) for the relationship between green Innovation strategy and enterprise value, non-precipitation redundant resources had positive moderate effect, while precipitation redundant resources had no significant moderate effect; (4) further three-way interaction analysis found out that with more non-precipitation redundant resources, the positive moderating effect of innovation ability on the relationship between green Innovation strategy and enterprise value became stronger. The conclusion of this study deepened and expanded the natural resource based theory, provided a useful reference for the green practice of enterprises.

Key words

green innovation strategy / enterprise value / innovation ability / absorbed slack / unabsorbed slac

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Yang Jing, Liu Qiuhua, Shi Jianjun. The value of corporate green innovation strategy[J]. Science Research Management. 2015, 36(1): 18-25

References

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