Department of Business Administration, Faculty of Economics and Administrative Sciences, European University of Lefke, TR-10 Mersin, Lefke, Northern Cyprus, Turkey, 99010.
Environ Sci Pollut Res Int. 2023 Jan;30(3):8048-8061. doi: 10.1007/s11356-022-22673-x. Epub 2022 Sep 1.
Environmental challenges are increasingly becoming global issues due to the negatively induced effect of carbon dioxide on the natural climate and the well-being of human beings. Industrialisation has intensified the energy demand which brought the surge in the consumption of conventional non-renewable energy resources, including fossil fuels. Despite the overwhelming evidence of negative effects of utilising conventional energy on the atmosphere, there has been a steady rise in industrial production which has encouraged firms to adopt technological innovation. In this sense, many countries have developed various strategies, frameworks and regulations to reduce industrial-driven environmental degradation. Environmental-friendly compliant production technology can be an important substitute model to improve economic development. This study examines the relationship between environmental regulation and firm performance with mediating the impact of product market competition in Turkey. The study uses multi-sectoral firm-level Turkish data covering from 2004 to 2020 which was analysed via numerous methods that control for endogeneity bias. The results of generalised method of moment indicate a strong positive effect of sustainable environmental regulation (SER) on firm performance (FP). Moreover, after mediating the effect of product market competition by decomposing the firms into low product market competition (LPMC) and high product market competition (HPMC), finding reveals a negative effect of SER on FP of LMPC whereas a positive impact was found in the HPMC firms. This finding shows that HPMC compels managers to form a differentiated profit maximisation strategy. In this sense, competition can play a dedicated role in enhancing firm performance in the context of government deliberate strategies and regulations for control of the industrial negative effect on the environment. The industrial sector needs to switch from conventional energy practices to sourcing green and renewable energy that would not jeopardise the environmental quality.
由于二氧化碳对自然气候和人类福祉的负面影响，环境挑战日益成为全球性问题。工业化加剧了能源需求，导致传统不可再生能源（包括化石燃料）的消费猛增。尽管利用传统能源对大气造成负面影响的证据确凿，但工业生产却稳步上升，这促使企业采用技术创新。从这个意义上说，许多国家已经制定了各种战略、框架和法规，以减少工业驱动的环境恶化。环保合规生产技术可以成为改善经济发展的重要替代模式。本研究考察了环境监管与企业绩效之间的关系，并在土耳其研究了产品市场竞争的影响。该研究使用了涵盖 2004 年至 2020 年的多部门土耳其企业层面数据，并通过控制内生性偏差的多种方法进行了分析。广义矩方法的结果表明，可持续环境监管（SER）对企业绩效（FP）有强烈的积极影响。此外，通过将产品市场竞争的影响分解为低产品市场竞争（LPMC）和高产品市场竞争（HPMC）来进行中介效应分析后，发现 SER 对 LPMC 的 FP 有负面影响，而在 HPMC 企业中则有积极影响。这一发现表明，HPMC 迫使管理者形成差异化的利润最大化策略。从这个意义上说，在政府为控制工业对环境的负面影响而制定的战略和法规背景下，竞争可以在提高企业绩效方面发挥专门作用。工业部门需要从传统能源实践转向绿色可再生能源，以确保环境质量不受威胁。
