基于调节焦点理论和企业行为理论，以2012~2022年中国A股上市企业数据为样本，实证分析高管团队在环境议题的调节焦点对企业绿色创新偏好的影响与边界条件。研究发现：环境议题的促进焦点对企业实质性绿色创新偏好具有正向影响，而预防焦点对这一关系有抑制作用。环境绩效正反馈弱化了促进焦点对企业实质性绿色创新偏好的正向影响，削弱了预防焦点对此的负向影响；环境绩效负反馈强化了促进焦点对企业实质性绿色创新偏好的正向影响，增强了预防焦点对此的负向影响。拓展性分析表明，环境绩效正反馈的调节作用在非重污染行业的企业中更显著，而环境绩效负反馈的调节作用在重污染行业的企业中更为强烈。

Based on regulatory focus theory and the behavioral theory of the firm, we empirically examine the impact of top management teams’ environmental regulatory focus on corporate green innovation preferences and its boundary conditions using data from Chinese A-share listed companies from 2012 to 2022. Results show that environmental promotion focus boosts firms’ preference for substantive green innovation, while environmental prevention focus inhibits it. Additionally, positive environmental performance feedback weakens the effect of promotion focus and mitigates the negative impact of prevention focus. Negative feedback, on the other hand, strengthens the positive influence of promotion focus and exacerbates the negative effect of prevention focus. Further analysis reveals that positive feedback has a stronger moderating role in non-heavy-polluting industries, while negative feedback is more influential in heavy-polluting industries.