Abstract: This paper studies the influencing factors of corporate green innovation from two perspectives: avoidant convergence and competitive convergence. Based on the new institutional theory, this paper takes China A-share listed heavy polluting companies from 2010 to 2019 as research samples, and finds that corporate green innovation behavior has a peer effect, and there are two influence mechanisms: avoidant convergence and competitive convergence. Moreover, the two convergence mechanisms have different effects on the green innovation. The former has a negative impact on the green innovation behavior of enterprises, while the latter has a positive impact on the green innovation behavior of enterprises. Compared with competitive convergence, avoidant convergence has a greater impact. Further research shows that when enterprises are under strong environmental pressure and high media attention, peer effect plays a greater role in green innovation of enterprises. Strong political relevance can enhance the effect of avoidant convergence on green innovation of enterprises, but it has no significant effect on the relationship between competitive convergence and green innovation. The research conclusion provides theoretical support for the government to understand and use the group environmental behavior.

Key words: green innovation, peer effect, heavy polluting companies, avoidant convergence, competitive convergence