Sustainability Solution: Renewable Energy Innovation Against Climate Disasters
研究了自然灾害不确定性和气候政策不确定性如何调节企业在气候灾害后追求可再生能源创新的行为，基于行为企业理论和威胁刚性模型，使用三重差分法和元分析分析2013-2018年美国企业数据，发现自然灾害不确定性显著抑制了企业的创新追求。
ABSTRACT In an era where climate change poses profound threats to human life and activities, the need for innovative renewable energy solutions has never been more critical. Accordingly, this study examines the moderating effects of natural disaster uncertainty and climate policy uncertainty on firms' pursuit of renewable energy innovation following climate change–induced disasters. Through an in‐depth analysis grounded in the behavioral theory of the firm and integrated with the threat rigidity model, this study explores how these uncertainties influence firms' behavior following climatic threats. Using a difference‐in‐difference‐in‐differences approach in confluence with meta‐analysis, the study scrutinizes the pursuit of renewable energy innovation among US firms from 2013 to 2018. The findings indicate that natural disaster uncertainty significantly dampens firms' pursuit of renewable energy innovation postclimatological disasters. Theoretically, our study enhances the understanding of how climate risks affect innovation behavior, highlighting the critical role of natural disaster uncertainty. It bridges a crucial gap in the academic discourse on climate risk and renewable energy innovation, offering practical insights for managers and policy‐makers. For managers, the findings highlight the need for robust risk management to sustain innovation. Further, for policy‐makers, this research provides rich insights into developing supportive regulatory frameworks and investment incentives to mitigate climate risks and advance sustainable energy solutions amidst climate challenges.