Relationship between carbon disclosure quality, green innovation and organizational performance under the background of carbon neutrality

Chinese listed firms encounter challenges in effectively leveraging carbon disclosure and green technology innovation to enhance sustainability performance amid evolving regulatory and market landscapes. Employing a decade of panel data from Chinese listed firms, this study empirically analyzes the interplay between carbon disclosure quality, green technology innovation, and corporate performance, with a comparative focus on state-owned enterprises (SOEs) and non-SOEs. The study results show that robust carbon disclosure directly enhances firm performance, with green innovation mediating this relationship. Non-SOEs exhibit a significantly stronger green innovation mediation effect, leveraging disclosure to mitigate financing constraints and bolster market competitiveness, whereas SOEs align disclosure practices with regulatory priorities. Strategic integration of carbon management with green technology development emerges as a critical pathway for sustainable growth. Policymakers and firms should prioritize transparency-driven strategies, particularly for non-SOEs, to address financial barriers and strengthen market positioning in economies transitioning toward sustainability.

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