Green Innovation, Environmental Information Disclosure and Firm Value

Under the background of the "dual carbon" strategy, China attaches more and more importance to high-quality green development, which requires firms to assume environmental responsibility, formulate green and sustainable plans, and take the initiative to respond to national policies.This paper selected the panel data of A-share listed firms in the Shanghai and Shenzhen Stock Exchange from 2008 to 2020 to conduct an empirical study on the relationship between green innovation and firm value.The results show that green innovation has a significant positive effect on firm value: firms with strong green innovation capability have higher firm value.Meanwhile, the positive moderating effect of environmental information disclosure on the relationship between green innovation and firm value is further tested.This paper provides a theoretical basis for firms to balance economic and environmental benefits and maximize benefits.