Abstract: In the context of China energetically developing green economy, this paper breaks through the traditional framework of formal institutions, and investigates the impact of the Confucian culture on the corporate green innovation from a perspective of informal institutions. Using a sample of Shanghai and Shenzhen A-share listed firms in manufacturing industry during the period of 2008—2018, we find that the Confucian culture significantly puts a positive influence on the corporate green innovation in three primary ways, including the corporate social responsibility, managerial self-interest and business strategic transformation. Besides, the heterogeneity study shows that the environmental regulation intensity, the industry pollution level and the culture shock intensity can play an important role in the association between Confucian culture and corporate green innovation. Additionally, the corporate green innovation which is triggered by the Confucian culture can boost enterprise performance. Not only does this paper provide a necessary theoretical basis for carrying forward the Chinese traditional culture, but also offer guiding suggestions on how to promote the corporate green innovation of manufacturing enterprises.

Key words: Confucian culture, corporate green innovation, informal institutions, manufacturing enterprises