3192 
2372创新具有路径依赖性，通常不会自发向绿色转型。现有研究考虑了代理人损失规避的心理，而忽略了创新是一种集体行为的事实。绿色创新更多来自合作研发，也可导致企业内部的激励无效。因此，文章以声誉机制为切入点，利用中国A股制造业企业陆续购买董监高责任险这一准自然实验，采用双重差分法考察董监高责任险对绿色创新的影响。研究表明，虽然董监高责任险可能加剧企业短期逐利的行为，导致“脱实向虚”，挤出绿色研发，但仍可通过发挥“声誉保险”的作用，降低潜在的声誉损失，增加合作机会，促进绿色创新。企业购买董监高责任险后，绿色发明专利的授权数量增加了14%，绿色实用新型专利的授权数量增加了10%。这一结论不仅验证了董监高责任险的绿色外溢效应，还为完善企业内外部治理机制、兼顾经济和环保的双重目标、推动企业绿色转型提供了启发。
董监高责任险、企业声誉与绿色创新
摘要
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引用本文
李筱乐, 张军, 李梦荷. 董监高责任险、企业声誉与绿色创新[J]. 上海财经大学学报, 2023, 25(2): 93-106.
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