Finance and Economics College, Jimei University, Xiamen, 361021, China.
School of Business Administration, Jimei University, Xiamen, 361021, China.
J Environ Manage. 2022 Nov 15;322:116127. doi: 10.1016/j.jenvman.2022.116127. Epub 2022 Sep 5.
Green technology innovation (GTI) is an effective way to promote the green development of economy, and government environmental regulations are an important means to encourage enterprises to carry out GTI. Taking Chinese A-share listed enterprises from 2010 to 2019 as samples, this paper divides environmental regulations into three categories: command-based environmental regulation (ER), market-based environmental regulation (ER) and voluntary environmental regulation (ER), studies their impact on enterprise GTI, and discusses the joint effect of enterprise research and development (R&D) investment and government support from the perspective of internal and external linkage of enterprises. In addition, this paper also analyzes the compound effect and time effect of environmental regulation. The research conclusions are as follows: (1) From the perspective of policy types, both ER and ER could stimulate enterprises to carry out GTI, and the promotion effect of green utility model patents is slightly higher than that of green invention patents. ER inhibits enterprise GTI. In addition, this paper finds that the effect of three environmental regulations acting at the same time is greater than that of one of them. (2) The mechanism analysis shows that the R&D investment of enterprise positively could moderate the relationship between ER and green invention at the significance level of 5%, positively moderate the relationship between ER and green utility model patent at the significance level of 1%, and negatively moderate the relationship between ER and green utility model patent at the significance level of 5%. The government support could moderate the relationship between environmental regulation and green utility model patents at the significance level of 5% and 10%. (3) The effect analysis shows that the transformation rate of GTI in China needs to be improved. The three environmental regulations could have an effect on enterprise GTI in a short period, and ER has the fastest effect. (4) Considering the differences in the level of economic development and resource endowments in various regions of China, this paper classifies the sample enterprises and finds that the impact of environmental regulation on enterprise GTI is heterogeneous in terms of location, ownership nature, factor density and industry type. The research results provide the important reference for the formulation and implementation of environmental regulation policies according to local conditions.
绿色技术创新（GTI）是促进经济绿色发展的有效途径，而政府环境法规是鼓励企业进行 GTI 的重要手段。本文以 2010 年至 2019 年中国 A 股上市公司为样本，将环境法规分为命令型环境法规（ER）、市场型环境法规（ER）和自愿型环境法规（ER）三类，研究其对企业 GTI 的影响，并从企业内部和外部联系的角度探讨企业研发（R&D）投资和政府支持的联合效应。此外，本文还分析了环境法规的复合效应和时变效应。研究结论如下：（1）从政策类型来看，ER 和 ER 都能刺激企业进行 GTI，绿色实用新型专利的促进作用略高于绿色发明专利。ER 抑制企业 GTI。此外，本文发现三种环境法规同时作用的效果大于其中一种。（2）机制分析表明，企业 R&D 投入在 5%的显著水平上正向调节 ER 与绿色发明专利之间的关系，在 1%的显著水平上正向调节 ER 与绿色实用新型专利之间的关系，在 5%的显著水平上负向调节 ER 与绿色实用新型专利之间的关系。政府支持在 5%和 10%的显著水平上正向调节环境法规与绿色实用新型专利之间的关系。（3）效应分析表明，中国的 GTI 转化率有待提高。在短期内，三种环境法规都会对企业 GTI 产生影响，ER 的效果最快。（4）考虑到中国各地区经济发展水平和资源禀赋的差异，本文对样本企业进行分类，发现环境法规对企业 GTI 的影响在地理位置、所有制性质、要素密度和产业类型方面存在异质性。研究结果为因地制宜制定和实施环境法规政策提供了重要参考。
