Impact of CSR, innovation, and green investment on sales growth: new evidence from manufacturing industries of China and Saudi Arabia

Environmental concerns have got supreme interest from the researchers and policy makers for which experts have revealed their organizational impacts too. At the same time, corporate social responsibility is observed as a key determinant of financial performance both in developed and developing economies. Recognize the same, this study aims to examine the impact of corporate social responsibilities, economic innovation, green credit, and green investment on the sales growth of manufacturing industries of China and Saudi Arabia. This study has selected top twelve trading manufacturing companies registered in the Shanghai stock exchange and Saudi stock exchange during the period of 2016 to 2020. For data estimation, panel regression estimations like fixed and random effect models have been used. The results indicate that corporate social responsibility, economic innovation, green credit, and green investment are significantly and positively associated with sales growth of manufacturing industries in China and Saudi Arabia. However, their coefficient's magnitude varies due to distinct features of both countries. These findings offer valuable policy recommendations for all stakeholders.