The Impact of Red Culture on Corporate Green Innovation: The Moderating Role of the Degree of Marketization and the Level of Clean Politics
Abstract
This study analyzed 29,630 A-share listed companies from China’s Shanghai and Shenzhen stock exchanges between 2010 and 2021, using data from 20 national 5A red scenic spots. The OLS regression revealed that a strong red cultural atmosphere and a culture-cognition orientation significantly foster corporate green innovation. However, in areas with a high degree of marketization, improvements in formal systems weaken the positive impact of the red culture. Conversely, in regions with high levels of clean politics, red culture functions as an implicit contract thus enhancing the effectiveness of formal systems in promoting corporate green innovation.
Fields of Study & Subjects
Environmental Sustainability in Business
Political Influence and Corporate Strategies
Culture
Economy
and Development Studies
Publication details
- Journal / source
- Journal of innovation and development
- Volume
- 14
- Issue
- 2
- Pages
- 641–658
- Publication date
- 9 February 2026
- Language
- EN