A Study of the Impact of Carbon Accounting Information Disclosure on Corporate Ambidextrous Innovation

Carbon accounting information disclosure enables firms to communicate information about their production and operating activities to the capital market more effectively, thereby mitigating the adverse role of information dissymmetry on corporate ambidextrous innovation. Accordingly, the paper empirically tests the influence of carbon accounting information disclosure on corporate ambidextrous innovation, employing the sample data of all listed companies in the Shanghai and Shenzhen A-share markets (2014–2023). The test outcomes demonstrate that carbon accounting information disclosure is capable of significantly promoting exploratory innovation while significantly inhibiting exploitative innovation; this conclusion stays robust after relevant endogeneity and robustness tests. The mechanism analysis reveals that financing constraints serve as a significant mediator in the correlation between carbon accounting information disclosure and corporate ambidextrous innovation. An analysis of the differences in the effects and mechanisms of carbon accounting information disclosures and ESG information disclosures indicates that there are significant differences in the impact of carbon accounting information disclosures and ESG information disclosures on firms’ ambidextrous innovation, as well as in their underlying mechanisms. Further analysis indicates that, based on heterogeneity tests, the promotional effect of carbon accounting information disclosure on exploratory innovation is more pronounced in state-owned enterprises, while its inhibitory effect on exploitative innovation is more pronounced in non-state-owned enterprises; furthermore, the impact of carbon accounting information disclosure on both exploratory and exploitative innovation is more pronounced in the eastern region, as well as during the growth and decline phases of a firm; Moderation effect tests revealed that environmental uncertainty amplifies the impact of carbon accounting information disclosure on firms’ ambidextrous innovation, while marketization and analyst attention mitigate this effect; an analysis of economic consequences indicates that carbon accounting information disclosure not only promotes exploratory innovation and inhibits exploitative innovation but ultimately fosters high-quality development in firms. This paper not only diversifies research on carbon accounting information disclosure but also provides scientific empirical evidence and decision-making references for promoting corporate ambidextrous innovation.