CEO stability and enterprise total factor productivity from the perspective of dual carbon: a mechanism test based on green innovation
ISSN: 0368-492X
Article publication date: 29 September 2023
Issue publication date: 29 January 2024
Abstract
Purpose
Through this study, the aim is to provide reference for the improvement of CEO related theories, the reform of internal governance mechanisms and compensation systems in enterprises, and ultimately contribute to economic and social development and the achievement of dual carbon goals.
Design/methodology/approach
In the context of accelerating the implementation of the “dual carbon” goal and promoting sustainable economic and social development, this paper builds a panel data model based on the panel data of 31 provinces in China from 2011 to 2019 to empirically test the impact of CEO stability on green innovation and total factor productivity of enterprises.
Findings
The results show that CEO stability has a positive role in promoting enterprise total factor productivity and green innovation and enterprise green innovation also has a positive role in promoting total factor productivity; Heterogeneity testing found that CEO stability has no significant impact on green innovation in state-owned enterprises. Corporate green innovation has a partial mesomeric effect between CEO stability and total factor productivity; The proportion of independent directors has a negative moderating effect on CEO stability and corporate green innovation, while equity incentive has a positive moderating effect on the relationship between CEO stability, corporate total factor productivity and green innovation.
Originality/value
First, it develops the research on CEO stability and its economic consequences. Second, it expands the impact of CEO stability on heterogeneous enterprises. Third, provides new ideas for the reform of internal governance mechanism and salary system of enterprises.
Keywords
Acknowledgements
Funding: Development of Decentralized Collaborative Framework and Key Standards for Special Equipment Quality Control under the National Key R&D Program “Research and Application of Digital Key Technologies for Typical Special Equipment Quality Control” (2022YFF0607401).
Citation
Sun, H., Li, C., Zhang, Q. and Zhu, Y. (2024), "CEO stability and enterprise total factor productivity from the perspective of dual carbon: a mechanism test based on green innovation", Kybernetes, Vol. 53 No. 2, pp. 803-819. https://doi.org/10.1108/K-06-2023-1088
Publisher
:Emerald Publishing Limited
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