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Going global, going green: How outward FDI enhances corporate green innovation

Huahua Ge, Zaixin Chen, Pengfei Gao Orcid Logo, Chenbo Wang

Finance Research Letters, Volume: 82, Start page: 107554

Swansea University Author: Pengfei Gao Orcid Logo

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DOI (Published version): 10.1016/j.frl.2025.107554

Abstract

Green innovation is critical for firms pursuing sustainable growth amid intensifying environmentalpressures. This study examines the impact of outward foreign direct investment (OFDI) ongreen innovation activities using panel data on Chinese listed firms from 2003 to 2022. We focuson two moderating...

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Published in: Finance Research Letters
ISSN: 1544-6123
Published: Elsevier BV 2025
Online Access: Check full text

URI: https://cronfa.swan.ac.uk/Record/cronfa69572
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last_indexed 2025-06-13T13:33:29Z
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spelling 2025-06-12T14:47:17.6923937 v2 69572 2025-05-27 Going global, going green: How outward FDI enhances corporate green innovation bd00b4a498e1c45d25e0fcdab1838b26 0009-0008-7818-1231 Pengfei Gao Pengfei Gao true false 2025-05-27 CBAE Green innovation is critical for firms pursuing sustainable growth amid intensifying environmentalpressures. This study examines the impact of outward foreign direct investment (OFDI) ongreen innovation activities using panel data on Chinese listed firms from 2003 to 2022. We focuson two moderating mechanisms: reverse technology spillovers from host countries and the intensityof home-country environmental regulation. Results show that OFDI significantly enhancesgreen patent activity, with stronger effects observed in firms exposed to advanced foreign R&Denvironments and stricter domestic regulatory conditions. Heterogeneity analysis further revealsthat the OFDI effect is more pronounced in technology-intensive firms, low-pollution industries,and inland regions. These findings offer new evidence on how international expansion, whencombined with supportive institutional and technological contexts, can promote environmentalinnovation in emerging markets. Journal Article Finance Research Letters 82 107554 Elsevier BV 1544-6123 Outward foreign direct investment; Green innovation; Reverse technology spillover; Local environmental regulation 1 9 2025 2025-09-01 10.1016/j.frl.2025.107554 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University 2025-06-12T14:47:17.6923937 2025-05-27T23:21:55.8019241 Faculty of Humanities and Social Sciences School of Management - Business Management Huahua Ge 1 Zaixin Chen 2 Pengfei Gao 0009-0008-7818-1231 3 Chenbo Wang 4 69572__34466__e7f0dc229e9b4e4da5928c6a129915ff.pdf Going Global, Going Green, How Outward FDI Enhances Corporate Green Innovation.pdf 2025-06-12T13:08:11.9044100 Output 668074 application/pdf Accepted Manuscript true Author accepted manuscript document released under the terms of a Creative Commons CC-BY licence using the Swansea University Research Publications Policy (rights retention). true eng https://creativecommons.org/licenses/by/4.0/deed.en
title Going global, going green: How outward FDI enhances corporate green innovation
spellingShingle Going global, going green: How outward FDI enhances corporate green innovation
Pengfei Gao
title_short Going global, going green: How outward FDI enhances corporate green innovation
title_full Going global, going green: How outward FDI enhances corporate green innovation
title_fullStr Going global, going green: How outward FDI enhances corporate green innovation
title_full_unstemmed Going global, going green: How outward FDI enhances corporate green innovation
title_sort Going global, going green: How outward FDI enhances corporate green innovation
author_id_str_mv bd00b4a498e1c45d25e0fcdab1838b26
author_id_fullname_str_mv bd00b4a498e1c45d25e0fcdab1838b26_***_Pengfei Gao
author Pengfei Gao
author2 Huahua Ge
Zaixin Chen
Pengfei Gao
Chenbo Wang
format Journal article
container_title Finance Research Letters
container_volume 82
container_start_page 107554
publishDate 2025
institution Swansea University
issn 1544-6123
doi_str_mv 10.1016/j.frl.2025.107554
publisher Elsevier BV
college_str Faculty of Humanities and Social Sciences
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hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
document_store_str 1
active_str 0
description Green innovation is critical for firms pursuing sustainable growth amid intensifying environmentalpressures. This study examines the impact of outward foreign direct investment (OFDI) ongreen innovation activities using panel data on Chinese listed firms from 2003 to 2022. We focuson two moderating mechanisms: reverse technology spillovers from host countries and the intensityof home-country environmental regulation. Results show that OFDI significantly enhancesgreen patent activity, with stronger effects observed in firms exposed to advanced foreign R&Denvironments and stricter domestic regulatory conditions. Heterogeneity analysis further revealsthat the OFDI effect is more pronounced in technology-intensive firms, low-pollution industries,and inland regions. These findings offer new evidence on how international expansion, whencombined with supportive institutional and technological contexts, can promote environmentalinnovation in emerging markets.
published_date 2025-09-01T05:28:59Z
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