In the era of globalization and technological innovation, enhancing business innovation performance is pivotal for driving economic growth and maintaining competitive edge. Among the various aspects of corporate governance, equity structure stands out for its influence on firms' innovative activities. This study explores the impact of equity structure on the innovation performance of high-tech listed companies, as well as the mediating role of R&D investment and the moderating effect of market competition. A review of the literature identifies gaps in current research, such as the lack of attention to the multifaceted influence of equity structure and the limited focus on how external environmental factors affect innovation performance.

It is necessary to promote harmony between the economic growth of tourism and the resource environment to achieve the green and sustainable development of China’s tourism industry. The research objects were taken in 30 provinces and cities in China. The green innovation efficiency of tourism is measured and evaluated based on the super-efficient SBM model and Moran index. The spatial and temporal heterogeneity of the influencing factors of green innovation efficiency is analyzed using the GWR model. The study shows that: (1) The level of green innovation efficiency of the tourism industry as a whole keeps improving during the study period, but the development is uneven among eastern, central, and western provinces. (2) The spatial correlation of the green innovation efficiency of the tourism industry in 30 provinces and cities keeps getting closer and closer, and some regions show the characteristics of spatial aggregation. (3) The green innovation efficiency of the tourism industry is affected by various factors, such as the level of economic development and the level of professional development of the tourism industry. (4) Tourism green innovation efficiency is influenced by various factors, such as economic development level and tourism professional development level, and there are apparent intensity differences and spatial heterogeneity among various influencing factors. Finally, reasonable countermeasures are proposed to promote the overall improvement and balanced development of green innovation efficiency in China’s tourism industry.