Does environmental management system certification affect green innovation performance?-Based on a moderated mediating effects model.

ABSTRACT

What is the impact of environmental management system certification on green innovation performance, and is it a futile endeavor or a profitable one? Grounded in the principles of ecological civilization construction and green development, this study embarks on a comprehensive examination. Initially, it investigates the varying impacts of environmental management system certification on both traditional innovation performance and green innovation performance. Subsequently, it dissects the underlying mechanisms and moderating factors influencing the latter, including an exploration of intermediary effects. The empirical findings of this study are as follows (i) Environmental management system certification emerges as a catalyst for innovation performance, with the primary impact observed in the realm of green innovation performance. (ii) Social responsibility disclosure is identified as a mediating factor in the relationship between environmental management system certification and green innovation performance. (iii) Larger enterprises, those equipped with robust equity incentives, and those operating in less competitive markets are more prone to benefit from the impact of environmental management system certification on social responsibility disclosure. This, in turn, amplifies the promotion of green innovation performance. However, the moderating effect of property rights on the mediating path remains statistically insignificant. (iv) Environmental management system certification exerts a more pronounced influence on green innovation performance in regions characterized by lower economic development. Moreover, it particularly stimulates exploratory green innovation performance, surpassing its impact on exploitative green innovation performance.