媒体声誉对企业绿色创新质量的影响研究——以A股上市公司为例  

The Impact of Media Reputation on the Quality of Green Innovation in Enterprises:A Case Study of A-Share Listed Companies in China

作　　者：周韵晨 李浩[2] 杨朦 ZHOU Yunchen;LI Hao;YANG Meng(Ningbo National Insurance Development Institute,Wuhan University,Ningbo,Zhejiang 315000,China;Economics and Management School,Wuhan University,Wuhan,Hubei 430072,China;School of Public Administration,Zhongnan University of Economics and Law,Wuhan,Hubei 430072,China)

机构地区：[1]武汉大学宁波国家保险发展研究院,浙江宁波315000 [2]武汉大学经济与管理学院,湖北武汉430072 [3]中南财经政法大学公共管理学院,湖北武汉430072

出　　处：《河北工程大学学报（社会科学版）》2024年第3期35-42,共8页Journal of Hebei University of Engineering(Social Science Edition)

基　　金：湖北省社科基金一般项目(编号:HBSK2022YB388)。

摘　　要：媒体声誉作为非正式制度,对企业资源获取和长远发展具有重要影响。文章以2010-2022年中国沪深A股上市公司为样本,实证分析媒体声誉对企业绿色创新质量的影响。研究发现:媒体声誉提升了企业绿色创新质量。机制分析结果表明,媒体声誉通过降低企业债务融资成本、增加高管绿色发展导向两种渠道提升了企业绿色创新质量。异质性分析结果表明,对于国有企业、环境规制强度较高地区的企业、市场化水平较低地区的企业,媒体声誉对企业绿色创新质量的提升作用更强。As an informal system,media reputation has an important impact on the resource acquisition and development strategy of enterprises.Based on the data of Shanghai and Shenzhen A-share listed companies from 2010 to 2022,this paper empirically analyzes the impact of media reputation on the green innovation quality of enterprises.The study found that media reputation improves the quality of green innovation in enterprises.The results of mechanism analysis show that media reputation improves the quality of corporate green innovation by reducing the cost of debt financing for enterprises and increasing the green development orientation of executives.The results of heterogeneity analysis show that for state-owned enterprises,media reputation has a stronger effect on the quality of green innovation of enterprises in areas with high environmental regulation intensity as well as those in areas with low marketization level.

关 键 词：媒体声誉 绿色创新质量 融资约束 绿色发展导向 

分 类 号：F272.2[经济管理—企业管理]