股权激励、碳信息披露与低碳技术创新扩散

Equity Incentive, Carbon Information Disclosure and Low-Carbon Technology Innovation Diffusion

摘要: 以低碳创新经济为背景，利用大样本实证检验，研究了股票期权激励和限制性股票激励两种典型的股权激励对企业低碳技术创新扩散的影响，同时检验了碳信息披露对二者关系的调节作用。研究发现，两种类型的股权激励均与低碳技术创新扩散有负相关关系，而碳信息披露缓解了这种负相关关系。这一结果对后续如何发挥低碳技术创新扩散作用有一定借鉴意义。

Abstract: On the background of a low-carbon innovation economy, this study employs large-sample empirical tests to examine the impact of two typical equity incentive mechanisms—stock option incentives and restricted stock incentives—on corporate low-carbon technological innovation diffusion. It also investigates the moderating effect of carbon disclosure on the relationship between stock incentive and innovation diffusion. The findings reveal that both types of equity incentives exhibit a negative correlation with low-carbon technological innovation diffusion, while carbon disclosure mitigates this negative association. These results offer valuable insights for future strategies on leveraging the role of low-carbon technological innovation diffusion.