Amore and Bennedsen (2013)

Amore, Mario Daniele and Morten Bennedsen.  “Corporate governance and the environment: Evidence from green innovations.”  Working paper (Bocconi University), April 16, 2013.

From the authors' abstract:  "[W]e show that worse-governed firms generate fewer green patents relative to all their innovations... Our results are consistent with “quiet life” interpretations whereby worse-governed managers avoid complex projects that would entail major changes in the organization and composition of the employment."