气候变化与公司创新:中国证据  

Climate Change and Corporate Innovation:Evidence from China

作　　者：林之阳 孔东民[2] 宁书影 Zhiyang Lin;Dongmin Kong;Shuying Ning(School of Economics and Management,Tongji University;School of Economics,Huazhong University of Science and Technology;School of Economics and Management,Hubei University of Technology)

机构地区：[1]同济大学经济与管理学院 [2]华中科技大学经济学院 [3]湖北工业大学经济与管理学院

出　　处：《经济学报》2024年第4期302-343,共42页China Journal of Economics

基　　金：国家社会科学基金(项目编号:21ZDA010,22VRC145);国家自然科学基金(项目编号:71991473,71772178);湖北工业大学博士科研项目(XJ2021007501)的资助。

摘　　要：本文考察气候变化是否影响公司层面的创新产出。利用干旱构建气候变化情景,将气候敏感型公司作为样本,本文发现干旱这一气候状况的恶化会激励企业进行创新活动,即存在“环境激励效应”。这一效应主要来源于两个因素:其一,干旱对公司经营产生不利影响,“倒逼”公司进行创新;其二,公司管理层对气候信号的捕捉有助于识别气候变化带来的机会,进而提升公司创新。此外,当子公司地理分散较低时,干旱的创新促进作用更强,这一结果体现了气候影响的区域性特征。本文从气候变化的角度为企业创新活动的研究提供了新的视角,强调了将气候风险纳入政策评估与企业决策过程的重要性。This paper examines the impact of climate change on corporate innovation.We use the regional drought to construct the climate scenario,choose the climate sensitive firms as research samples,and find that climate change has a significant impact on corporate innovation.The deterioration of regional drought will encourage firms to carry out innovative activities,which is called“environment-incentive effect”.This influence of the drought on firms'innovations mainly comes from two factors:Firstly,the adverse impact of regional drought on firms'operations has forced firms to engage in innovations.Secondly,the more forward-thinking management will be better able to capture the opportunities presented by climate change and improve corporate innovation.In addition,when the geographical dispersion of subsidiaries is low,the promoting effect of drought on innovations is more pronounced,which shows the regional feature of climate effect.This paper contributes to the study of corporate innovations from the perspective of climate change and emphasizes the importance of incorporating climate risk into policy assessment and firm decision-making process.

关 键 词：创新 气候变化 干旱 环境激励 

分 类 号：P467[天文地球—大气科学及气象学] F273.1[经济管理—企业管理]