Business strategy and sustainable development: Evidence from China
研究了企业商业战略如何通过绿色创新影响可持续发展，发现探索型战略比防御型战略更不利于绿色创新，政治关联强化而环境规制弱化这一负面关系，且绿色创新未能实现环境与发展的双赢。
Abstract This study examines whether and how business strategies affect firms' sustainable development from the view of green innovation. We show that firms following prospector strategy engage in less sustainable development behaviors than those following defender strategies. The negative relation between business strategy and green innovation continues to hold when addressing robustness with alternatives of business strategy and green innovation and addressing potential endogeneity with instrumental variable. We further find that political connection strengthens whereas environmental regulation weakens the negative relation between business strategy and green innovation. Finally, we explore the economic consequences of green innovation caused by strategic differences. Regrettably, the win–win situation of environment and development does not come true.