Public scrutiny and green spillover in buyer-supplier relationships: Exploring contingent effect of embeddedness

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2026-03-01 Epub Date: 2026-02-11 DOI:10.1016/j.frl.2026.109630

Zijia Liu , Chenfei Jin , Bao Wu , Tongtong Shen , Qiuyang Gu

引用次数: 0

Abstract

This study investigates how public scrutiny of corporate ESG controversies drives sustainable development within buyer-supplier relationships. Drawing on the embeddedness perspective and using panel data of Chinese A-share listed firms, we find that public ESG scrutiny significantly promotes green innovation in focal firms. Notably, such green innovation serves as a crucial mediator, generating positive spillover effects that enhance the green total factor productivity (GTFP) of suppliers. We further explore the contingent roles of relational and technological embeddedness in this spillover process. Our results reveal that both higher relational embeddedness and greater technological embeddedness strengthen the positive impact of focal firms’ green innovation on suppliers’ GTFP.

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公共监督与绿色外溢：探讨嵌入效应的偶然效应

本研究探讨了公众对企业ESG争议的监督如何推动买方-供应商关系中的可持续发展。利用嵌入性视角和中国a股上市公司的面板数据，我们发现公众ESG监督显著促进了焦点公司的绿色创新。值得注意的是，这种绿色创新作为一个重要的中介，产生积极的溢出效应，提高供应商的绿色全要素生产率（GTFP）。我们进一步探讨了关系嵌入性和技术嵌入性在这一溢出过程中的偶然性作用。研究结果表明，较高的关系嵌入性和技术嵌入性均增强了焦点企业绿色创新对供应商GTFP的正向影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance