How Does University-Industry Collaboration Drives the Green Innovation?

Breaking through the company’s own green knowledge barriers through school-enterprise cooperation has become an important means for companies to expand market competitive advantages and environmental governance. This article uses China’s non-financial listed company data from 2010 to 2021 to study the causal effect of school-enterprise cooperation on corporate green innovation. The results passed a series of robustness tests and confirmed that school enterprise cooperation can improve the level of green innovation of enterprises. This paper also uses the instrumental variable method to mitigate the causal relationship between the two. The results show that school-enterprise cooperation can still significantly improve corporate green innovation. The results of the mechanism test confirm that school-enterprise cooperation will promote corporate green innovation by reducing corporate green innovation risks and easing corporate financing constraints. At the same time, the heterogeneity analysis results show that school-enterprise cooperation has a better effect on improving green innovation for enterprises in heavily polluting industries, enterprises in years with low economic policy uncertainty, and enterprises with a high degree of government-enterprise connection. The findings of this article help to understand the intrinsic mechanism between school-enterprise cooperation and corporate green innovation, and confirm that school-enterprise cooperation can improve the climate and environmental innovation system, which has important practical significance for the construction of the industry-university-research system.