A good name is rather to be chosen: The impact of CEO reputation incentives on corporate green innovation
研究了CEO声誉这一市场激励如何影响企业绿色创新，发现声誉通过降低融资约束、风险感知和提升环保意识促进创新，且在高管薪酬激励强、有政治关联和内控有效的企业中更显著。
Abstract In contrast to studies examining the effects of government incentives such as environmental regulation on corporate green innovation, this paper investigates the influence of CEO reputation, a market‐based incentive mechanism, on companies' green innovation behavior. Utilizing green patent data from Chinese A‐share listed companies from 2007 to 2020, we construct a CEO reputation index through principal component analysis and examine its impact on corporate green innovation behavior and underlying mechanisms. Our findings indicate that CEO reputation positively affects companies' green innovation behavior. This effect is primarily driven by reducing financing constraints, CEOs' risk perception, and rising environmental awareness. Further heterogeneity analysis reveals the positive relationship between CEO reputation and green innovation behavior is more pronounced in companies with strong executive compensation incentives, political connections, and effective internal control.