Do the academician independent directors promote green innovation in enterprises?

Using the manually collated data on the employment of academicians as independent directors by Shanghai and Shenzhen A-share listed firms from 2010 to 2020, the role and impact mechanism of academician independent directors on enterprise green innovation were empirically analyzed. The research shows that the academician independent directors promote green innovation of enterprises by alleviating corporate financing constraints, increasing corporate R & D investment, and alleviating managerial myopia, and their role in promoting green invention patents is greater than that of green utility model patents. The academician independent directors will improve the green innovation level of enterprises in non-heavy polluting industries and enterprises in the eastern region, and the nature of property rights and the degree of marketization will strengthen their role in promoting green innovation.

Automated summary

Using data from Shanghai and Shenzhen A-share listed firms from 2010 to 2020, the study empirically analyzes the role and impact mechanism of academician independent directors on enterprise green innovation. The research finds that academician independent directors promote green innovation by alleviating financing constraints, increasing R&D investment, and reducing managerial myopia. Their role in promoting green invention patents is greater than that of green utility model patents. Furthermore, their impact is stronger in non-heavy polluting industries and the eastern region, and is influenced by property rights and marketization.