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| 异质性环境规制对企业绿色创新的影响研究——来自重污染行业上市公司的经验证据 |
| Research on the Impact of Heterogeneous Environmental Regulation on Corporate Green Innovation --Empirical Evidence from Listed Companies in Heavily Polluting Industries |
| 投稿时间：2023-11-15 修订日期：2024-03-20 |
| DOI： |
| 中文关键词: 命令控制型环境规制 市场激励型环境规制 绿色创新 融资约束 |
| English Keywords:command-and-control environmental regulation market incentive environmental regulation green innovation financing constraints |
| Fund Project: |
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| 摘要点击次数: 51 |
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| 中文摘要: |
| 环境规制是解决环境治理的负外部性,并推动企业绿色创新的重要途径。以2013-2020年我国沪深A股上市的重污染企业为研究对象,实证检验异质性环境规制、融资约束和企业绿色创新三者之间的关系。研究发现:命令控制型和市场激励型环境规制能够显著促进企业绿色创新,融资约束在环境规制与企业绿色创新的关系中起到显著的部分中介作用。此外,在国有企业和非国有企业中环境规制对企业绿色创新均存在促进作用,且融资约束均存在显著的中介作用；在东部地区,环境规制的增强能够通过降低企业的融资约束程度来促进企业的绿色创新,而在中西部地区环境规制虽能够促进企业绿色创新,但融资约束的中介效应不显著。 |
| English Summary: |
| Environmental regulation is an important way to address the negative externalities of environmental governance and to promote corporate green innovation. Taking the heavy polluters listed in China"s Shanghai and Shenzhen A-shares from 2013 to 2020 as the research object, we empirically examine the relationship among heterogeneous environmental regulation, financing constraints and corporate green innovation. It is found that command-and-control and market-incentive environmental regulations can significantly promote corporate green innovation, and financing constraints play a significant partial mediating role in the relationship between environmental regulations and corporate green innovation. In addition, in both state-owned enterprises and non-state-owned enterprises, environmental regulation can promote corporate green innovation, and financing constraints play a significant mediating role; in the eastern region, the enhancement of environmental regulation can promote corporate green innovation by reducing the degree of corporate financing constraints, while in the central and western regions, although environmental regulation can promote corporate green innovation, the mediating effect of financing constraints is not significant. |
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