School of Economics and Management, China University of Geosciences, Wuhan, 430074, China.
Research Center for Rural Economy, Ministry of Agriculture and Rural Affairs of the People's Republic of China, Beijing, 100810, China.
Environ Sci Pollut Res Int. 2022 Sep;29(44):67362-67379. doi: 10.1007/s11356-022-20523-4. Epub 2022 May 6.
Enhancing green innovation is fundamental for constructing China's new ecological civilization era and participating in the global green industrial revolution. Therefore, it is necessary to improve the green innovation of the enterprises by enhancing the ecological civilization institution system. This study assesses the impact of China's ecological civilization institution system on green innovation, taking the establishment of the National Ecological Civilization Pilot Zone (NECPZ) as a quasi-natural experiment and the non-financial listed firms in China's A-share market from 2010 to 2019 as the research objects. A time-varying difference-in-differences approach is adopted to evaluate the effectiveness of the pilot policy. It is found that the pilot policy has promoted green innovation in the treatment group. The results are proven valid after a series of robustness tests. Heterogeneous impacts of the ownership and industry are also discussed, finding a more substantial effect on the non-state-owned enterprises and firms in non-heavy polluting industries. Furtherly, it is found that the policy implementation has suppressed firms' total factor productivity but has improved local environmental performance. Based on the above results, a series of policy recommendations are put forward.
加强绿色创新对于构建中国新生态文明时代和参与全球绿色产业革命至关重要。因此，有必要通过加强生态文明制度体系来提高企业的绿色创新能力。本研究以国家生态文明试验区（NECPZ）的建立为准自然实验，以 2010 年至 2019 年中国 A 股市场的非金融上市公司为研究对象，采用时变双重差分法评估试点政策的有效性。结果表明，该试点政策促进了实验组的绿色创新。在一系列稳健性检验后，结果仍然成立。同时还探讨了所有制和行业的异质性影响，发现该政策对非国有企业和非重污染行业的企业效果更为显著。此外，研究还发现该政策的实施抑制了企业的全要素生产率，但提高了当地的环境绩效。基于上述结果，提出了一系列政策建议。
