Are Academic Executives Greener? Evidence From China

ABSTRACT This paper investigates the impact of executives with academic backgrounds (“academic executives”) on corporate green patents. We find that both the presence of academic executives and the proportion of academic executives have a significantly positive impact on firms' green patents, and this effect is positively associated with the firm's commitment to environmental ethics. The mechanisms analysis shows that academic executives promote corporate green innovation by improving companies' Environmental, Social, and Governance (ESG) performance and increasing the Research and Development (R&D) investment. Further analysis reveals that the effect of academic executives on corporate green patents primarily stems from executives with prior experience in research institutions. We also find that academic executives play a more important role in green patents in nonindustrial firms, larger firms, and those located in the Central and Western regions of China. Our findings contribute to the literature by offering new insights into corporate governance and environmental performance within the frameworks of Upper Echelons Theory and Imprinting Theory.