Chairman Raised With Sisters And Green Innovation Of Private Enterprises

In recent years,more and more attention has been paid to the contradiction between ecological protection and economic development,and the policy orientation has increasingly emphasized the coordinated development of ecological environment and national economy.As an effective means to resolve the contradiction between economic development and resources and environment,green innovation will become an important boost to high-quality economic and social development in the new era.Enterprises are important practitioners of green innovation.In recent years,more and more studies have begun to focus on the impact of senior management team on enterprise green innovation.Senior executives are the direct decision-makers of enterprises’ green innovation behavior,and their background characteristics will result in their different cognitive levels and behavioral preferences,so that the green innovation-related decisions made by senior executives have obvious management styles.However,most literatures start from the perspective of demographic characteristics such as age,gender and education level,as well as personal experience and psychological cognition.This paper innovatively takes the gender structure of senior executives’ native family as the entry point to explore the relationship between it and the green innovation level of enterprises.In the context of China’s system and mechanism,the chairman can exert great influence on the daily operation decisions of the company.Compared with state-owned enterprises,the appointment of the management of private enterprises is more market-oriented,and the personal style and values of the chairman are more likely to play a role in the green innovation decisions of the enterprise.Therefore,this paper takes private enterprises as the research object to study the impact of the gender structure of chairman’s compatriots on enterprises’ green innovation behavior.Choose between 2010 and 2020,Shanghai and shenzhen A shares of private listed companies as samples,to "chairman of the board of directors have sisters" this fellow gender structure characteristics of the refining and enterprise empirically the relationship between the level of green innovation,and to explore environmental regulation and the area of enterprise itself are faced with the media attention to the above two adjustment,further,The heterogeneity of the influence of chairwoman’s sister on the level of green innovation is studied from the following aspects: the chairman’s age,education background,whether he/she holds a part-time position,the marketization degree of the region where the company is located,and whether the company is a high-pollution industry.A series of empirical research results in this paper show that,first,compared with the chairman with brother in his family,the chairman with sister has a higher level of green innovation in the enterprise,that is,the chairman has a significant "sister effect" on the enterprise green innovation;In terms of the moderating effect,this paper finds that the stronger the environmental regulation is,the less attention is paid by the media,and the more significant the "sister effect" of green innovation is.Furthermore,we find that the "sister effect" of green innovation exists only in enterprises with younger and more educated chairmen and enterprises in high-pollution industries.The "sister effect" also has significant "dose effect" and "order effect",that is,the more sisters the chairman’s family has,the higher the enterprise’s green innovation level will be.Compared with a sister in the family of origin,the level of green innovation in the company of the chairman with an elder sister is higher.Further study on the mechanism of action of the above "sisters effect",this article found that compared with the original no sisters in the family,have a sister,chairman of the company faces lower financing constraints,the reason may be that the chairman by sister assimilation,tend to be more care altruistic traits and higher moral standard,thus will improve the level of information disclosure and shoulder more social responsibilities,Thus,the information asymmetry between the company and the fund provider is alleviated,and the positive signal that the enterprise is in good operating condition is conveyed,so the financing constraint of the enterprise is reduced.Lower financing constraints can make up for the lack of green innovation willingness of enterprises caused by dual externalities to a certain extent,so as to improve the green innovation level of enterprises.Have sisters "from the" native family this perspective,the chairman of the board of directors "sisters" and enterprise delve into the relationship between the level of green innovation,enrich the connotation of the management of individual heterogeneity,also enriched the economic consequences of compatriots structure at the micro level,fill the relevant structure influence corporate executives compatriots blank in the field of green innovation.In addition,this article research results for the enterprise to implement green innovation strategy,to strengthen the construction of talent team,provides reference value for the stakeholders of the company to evaluate corporate social responsibility provides a new Angle of view,from management to fellow native family gender structure,the listed company is engaged in the green innovation behavior motivation have a more comprehensive understanding.