Green Investment, Green Technology Innovation On Green House Gas Emission: The Moderating Role of Female CEO in ASEAN
DOI:
https://doi.org/10.25139/sng.v15i2.11085Keywords:
Green Investment; Green Technology Innovation; GHG; Female CEO; ASEANAbstract
This study aims to investigate the effect of Green Investment (GI) and Green Technology Innovation (GTI) on Green House Gas Emission (GHG) and explore the moderating role of Female CEO. The research data using from 665 observations of public Energy and Mining companies in ASEAN during the period 2019-2023. Data processing using a panel data approach and multiple regression. The results of the study show that Green Investment (GI) can significantly increase the disclosure of green house gas emission (GHG) performance. The same results are also shown by Green Technology Innovation (GTI) which also has a significant positive effect on green house gas emission (GHG). Female CEO are proven to have a moderating role. The presence of a Female CEO is proven to significantly strengthen the positive influence of Green Investment (GI) and Green Technology Innovation (GTI) on Green House Gas Emission (GHG). Overall, the findings of this study provide motivation and encouragement for companies to increase their Green Investment (GI) and Green Technology Innovation (GTI) as part of the company's superiority strategy towards ecological environmental issues and disclosure of environmental information which will later be able to improve the performance of Green House Gas Emission (GHG) disclosure
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A[3] Al-Najjar, B., & Salama, A. (2022). Mind the gap: Are female directors and executives more sensitive to the environment in high-tech us firms? Technological Forecasting and Social Change, 184. https://doi.org/10.1016/j.techfore.2022.122024
A[4] Al-Qahtani, M., & Elgharbawy, A. (2020). The effect of board diversity on disclosure and management of greenhouse gas information: evidence from the United Kingdom. Journal of Enterprise Information Management, 33(6), 1557–1579. https://doi.org/10.1108/JEIM-08-2019-0247
A[5] Arshad, M., Chen, •, Yu, K., Qadir, A., & Rafique, M. (n.d.). The influence of climate change, green innovation, and aspects of green dynamic capabilities as an approach to achieving sustainable development.
C[6] Chen, Y., & Ma, Y. (2021a). Does green investment improve energy firm performance? Energy Policy, 153. https://doi.org/10.1016/j.enpol.2021.112252
C[7] Chen, Y., & Ma, Y. (2021b). Does green investment improve energy firm performance? Energy Policy, 153. https://doi.org/10.1016/j.enpol.2021.112252
[8] Chien, F. S., Vu, T. L., Hien Phan, T. T., Van Nguyen, S., Viet Anh, N. H., & Ngo, T. Q. (2023). Zero-carbon energy transition in ASEAN countries: The role of carbon finance, carbon taxes, and sustainable energy technologies. Renewable Energy, 212, 561–569. https://doi.org/10.1016/j.renene.2023.04.116
[9] Chiţimiea, A., Minciu, M., Manta, A. M., Ciocoiu, C. N., & Veith, C. (2021). The drivers of green investment: A bibliometric and systematic review. Sustainability (Switzerland), 13(6). https://doi.org/10.3390/su13063507
[10] Fan, B., Zhao, H., Kamran, H. W., & Tahir, S. H. (2023). Environmental sustainability targets: the role of green investment, ICT development, and economic growth. Economic Research-Ekonomska Istrazivanja , 36(3). https://doi.org/10.1080/1331677X.2022.2151490
[11] Fan, J., & Xiao, Z. (2021). Analysis of spatial correlation network of China’s green innovation. Journal of Cleaner Production, 299. https://doi.org/10.1016/j.jclepro.2021.126815
[12] Farzaa, K., Ftiti, Z., Hliouia, Z., Louhichi, W., & Omri, A. (2021). Does it pay to go green? The environmental innovation effect on corporate financial performance.
[13] Filipović, S., Lior, N., & Radovanović, M. (2022). The green deal – just transition and sustainable development goals Nexus. Renewable and Sustainable Energy Reviews, 168. https://doi.org/10.1016/j.rser.2022.112759
[14] Gull, A. A., Ahsan, A., Sarang, A., Shakri, I. H., Atif, M., & Sarang, A. A. A. (2023). Co-opted Directors and Greenhouse Gas Emissions: Does ESG Compensation Matter? Running Title: Co-opted Directors and GHG Emissions.
[15] Habiba, U., Xinbang, C., & Anwar, A. (2022). Do green technology innovations, financial development, and renewable energy use help to curb carbon emissions? Renewable Energy, 193, 1082–1093. https://doi.org/10.1016/j.renene.2022.05.084
[16] Han, S. R., Li, P., Xiang, J. J., Luo, X. H., & Chen, C. Y. (2022). Does the institutional environment influence corporate social responsibility? Consideration of green investment of enterprises—evidence from China. Environmental Science and Pollution Research, 29(9), 12722–12739. https://doi.org/10.1007/s11356-020-09559-6
[17] Homroy, S. (2023). GHG emissions and firm performance: The role of CEO gender socialization. Journal of Banking and Finance, 148. https://doi.org/10.1016/j.jbankfin.2022.106721
[18] Hu, L., & Yang, D. (2021). Female board directors and corporate environmental investment: A contingent view. Sustainability (Switzerland), 13(4), 1–15. https://doi.org/10.3390/su13041975
[19] Huang, Y., Xue, L., & Khan, Z. (2021). What abates carbon emissions in China: Examining the impact of renewable energy and green investment. Sustainable Development, 29(5), 823–834. https://doi.org/10.1002/sd.2177
[20] Indriastuti, M., & Chariri, A. (2021). The role of green investment and corporate social responsibility investment on sustainable performance. Cogent Business and Management, 8(1). https://doi.org/10.1080/23311975.2021.1960120
[21] Issa, A., & Hanaysha, J. R. (2023). Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies. International Journal of Accounting and Information Management, 31(4), 623–646. https://doi.org/10.1108/IJAIM-03-2023-0053
[22] Javed, M., Wang, F., Usman, M., Ali Gull, A., & Uz Zaman, Q. (2023). Female CEOs and green innovation. Journal of Business Research, 157. https://doi.org/10.1016/j.jbusres.2022.113515
[23] Kakade, K. S., Kulkarni, A. M., & Naik, K. R. (2023). The role of women leadership in environmental management. In Opportunities and Challenges for Women Leaders in Environmental Management (pp. 31–49). IGI Global. https://doi.org/10.4018/978-1-6684-5986-7.ch003
[24] Kim, E. (2022). The Effect of Female Personnel on the Voluntary Disclosure of Carbon Emissions Information. International Journal of Environmental Research and Public Health, 19(20). https://doi.org/10.3390/ijerph192013247
[25] Mansour, M. M., Fawzi Shubita, M., Lutfi, A., Saleh, M. W. A., & Saad, M. (2024). Female Leadership and Green Innovation: Evidence from Asian Firms. https://doi.org/10.20944/preprints202410.0351.v1
[26] Meng, M., & Qu, D. (2022). Understanding the green energy efficiencies of provinces in China: A Super-SBM and GML analysis. Energy, 239. https://doi.org/10.1016/j.energy.2021.121912
[27] Miśkiewicz, R. (2021). The Impact of Innovation and Information Technology on Greenhouse Gas Emissions: A Case of the Visegrád Countries. Journal of Risk and Financial Management, 14(2). https://doi.org/10.3390/jrfm14020059
[28] Padilla-Lozano, C. P., & Collazzo, P. (2022). Corporate social responsibility, green innovation and competitiveness – causality in manufacturing. Competitiveness Review, 32(7), 21–39. https://doi.org/10.1108/CR-12-2020-0160
[29] Rahman, M. M., Rahman, M. S., Chowdhury, S. R., Elhaj, A., Razzak, S. A., Abu Shoaib, S., Islam, M. K., Islam, M. M., Rushd, S., & Rahman, S. M. (2022). Greenhouse Gas Emissions in the Industrial Processes and Product Use Sector of Saudi Arabia—An Emerging Challenge. Sustainability (Switzerland), 14(12). https://doi.org/10.3390/su14127388
[30] Rizki, T., Widjaja, A., & Shanty, D. (2023). Carbon disclosure and SDGs performance: adoption of green innovation in Indonesia. Jurnal Akuntansi Aktual, 10(2), 152. https://doi.org/10.17977/um004v10i22024p152
[31] Shabbir, M. S., & Wisdom, O. (2020). The relationship between corporate social responsibility, environmental investments and financial performance: evidence from manufacturing companies. In Environmental Science and Pollution Research (Vol. 27, Issue 32, pp. 39946–39957). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/s11356-020-10217-0
[32] Shan, S., Genç, S. Y., Kamran, H. W., & Dinca, G. (2021). Role of green technology innovation and renewable energy in carbon neutrality: A sustainable investigation from Turkey. Journal of Environmental Management, 294. https://doi.org/10.1016/j.jenvman.2021.113004
[33] Wan, X., Wang, Y., Qiu, L., Zhang, K., & Zuo, J. (2022). Executive green investment vision, stakeholders’ green innovation concerns and enterprise green innovation performance. Frontiers in Environmental Science, 10. https://doi.org/10.3389/fenvs.2022.997865
[34] Wang, Y., Guo, C. hui, Chen, X. jie, Jia, L. qiong, Guo, X. na, Chen, R. shan, Zhang, M. sheng, Chen, Z. yu, & Wang, H. dong. (2021). Carbon peak and carbon neutrality in China: Goals, implementation path and prospects. In China Geology (Vol. 4, Issue 4, pp. 720–746). KeAi Communications Co. https://doi.org/10.31035/cg2021083
[35] Xu, Y., Liu, X., Yang, L., Yang, X., Yan, H., & Ran, Q. (2023). Exploring the impact of natural resource dependence on green technology innovation: New insights from China. Resources Policy, 86. https://doi.org/10.1016/j.resourpol.2023.104051
[36] Ye, J., & Dela, E. (2023). The Effect of Green Investment and Green Financing on Sustainable Business Performance of Foreign Chemical Industries Operating in Indonesia: The Mediating Role of Corporate Social Responsibility. Sustainability (Switzerland), 15(14). https://doi.org/10.3390/su151411218
[37] Zhan, J. X., & Santos-Paulino, A. U. (2021). Investing in the Sustainable Development Goals: Mobilization, channeling, and impact. In Journal of International Business Policy (Vol. 4, Issue 1, pp. 166–183). Palgrave Macmillan. https://doi.org/10.1057/s42214-020-00093-3
[38] Zhang, W., & Li, G. (2022). Environmental decentralization, environmental protection investment, and green technology innovation. Environmental Science and Pollution Research, 29(9), 12740–12755. https://doi.org/10.1007/s11356-020-09849-z
[39] Zhang, X., Song, Y., & Zhang, M. (2023). Exploring the relationship of green investment and green innovation: Evidence from Chinese corporate performance. Journal of Cleaner Production, 412. https://doi.org/10.1016/j.jclepro.2023.137444
[40] Zheng, S., & Jin, S. (2023). Is corporate green investment a determinant of corporate carbon emission intensity? A managerial perspective. In Heliyon (Vol. 9, Issue 12). Elsevier Ltd. https://doi.org/10.1016/j.heliyon.2023.e22401
[41] Zhironkin, S., & Cehlár, M. (2022). Green Economy and Sustainable Development: The Outlook. In Energies (Vol. 15, Issue 3). MDPI. https://doi.org/10.3390/en15031167
