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. 2021 Jul 8;18(14):7333.
doi: 10.3390/ijerph18147333.

How Do Firms Promote Green Innovation through International Mergers and Acquisitions: The Moderating Role of Green Image and Green Subsidy

Hang Wu  1 , Yiying Qu  1
Affiliations

How Do Firms Promote Green Innovation through International Mergers and Acquisitions: The Moderating Role of Green Image and Green Subsidy

Hang Wu et al. Int J Environ Res Public Health. .

Abstract

Carrying out green innovation is beneficial for firms to cope with environmental protection pressure and achieve sustainable development. Existing research has paid enough attention to the driver of green innovation, but still does not reveal how green innovation can be conceived and realized. This paper answers the above question from the perspective of international M&As, examines the relationship between exploratory international M&As, exploitative international M&As and green innovation performance, and further probes into how strategic and environmental factors moderate the green innovation effectiveness of exploratory and exploitative M&As. Results indicate that exploratory and exploitative international M&As both are beneficial for green innovation performance, and to maximize green innovation performance, implementing exploratory M&As is more beneficial for firms pursuing high green image and operating in a high green subsidy environment. By contrast, carrying out exploitative M&As is more effective for firms pursuing low green image and operating in a low green subsidy environment. Theoretical and managerial implications are discussed.

Keywords: exploitative international M&As; exploratory international M&As; green image; green innovation; green subsidy.

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Conflict of interest statement

The authors declare no conflict of interest.

Figures

Figure 1
Figure 1
Theoretical model.
Figure 2
Figure 2
Moderating effect of green image on the relationship between exploratory international M&A and green innovation performance.
Figure 3
Figure 3
Moderating effect of green image on the relationship between exploitative international M&A and green innovation performance.
Figure 4
Figure 4
Moderating effect of green subsidy on the relationship between exploratory international M&A and green innovation performance.
Figure 5
Figure 5
Moderating effect of green subsidy on the relationship between exploitative international M&A and green innovation performance.
See this image and copyright information in PMC

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