Confucian Culture and Corporate Green Innovation

Under the pursuit of high-quality and sustainable development, green development has become a global consensus. This study, using data from Chinese A-share listed companies from 2007 to 2021, finds that Confucian culture significantly promotes corporate green innovation. The mechanisms include reducing agency costs, enhancing social responsibility awareness, and improving environmental awareness. The effect is more pronounced in non-state-owned enterprises and those with more environmentally experienced executives. Additionally, there is a complementary relationship between environmental regulations and Confucian culture in fostering green innovation. This study provides theoretical support for leveraging traditional Chinese culture in contemporary contexts and offers insights for improving corporate green governance and policy-making.