Author(s)

Yanhui Dong ¹

Affiliation(s)

¹ College of Business, Xi'an International Studies University, Xi'an, Shaanxi, 710128, China

Corresponding Author

Yanhui Dong

ABSTRACT

In the context of carbon peaking and carbon neutrality, the topic of how to promote green innovation of enterprises has attracted widespread attention, and the level of corporate governance has become a key factor in discussion. Based on micro-enterprise-level governance mechanism, this paper selects A-share listed companies in Shanghai and Shenzhen from 2015 to 2021 as the research object to study the impact of non-controlling major shareholders' exiting threats on enterprises' green innovation, examines the role heterogeneity in different external environments, and puts forward suggestions for non-controlling major shareholders, enterprises, and government departments. The study finds that the exiting threats of non-controlling major shareholder can promote corporate green innovation; the non-controlling majority shareholders' exiting threats promote corporate green innovation more strongly in enterprises with low audit quality and high analysts' attention. Accordingly, non-controlling major shareholders should actively use exiting threats, firms should build a check-and-balance shareholding structure, and the government should improve institutional regulations to enhance stock liquidity.

KEYWORDS

Non-Controlling Majority Shareholders, Exiting Threats, Corporate Green Innovation, External Environment

CITE THIS PAPER

Yanhui Dong, A Study of Heterogeneity in the Role of Exiting Threats of Non-Controlling Majority Shareholders in Different External Environments—Empirical Evidence from Green Innovation. Accounting and Corporate Management (2024) Vol. 6: 79-85. DOI: http://dx.doi.org/10.23977/acccm.2024.060111.

REFERENCES

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