School of Economics, Jinan University, Guangzhou, China.
School of Economics, Jinan University, Guangzhou, China.
J Environ Manage. 2024 Nov;370:122819. doi: 10.1016/j.jenvman.2024.122819. Epub 2024 Oct 8.
This paper uses firm-level panel data to study the quasi-experiment of China's low carbon city (LCC) pilots and to estimate the dynamic impact of environmental regulations on firms' trade-offs between green innovation and digital innovation. The results indicate that environmental regulations lead to an increase in firms' green innovation in the short run and promote firms' digital transformation in the long run. Moreover, the key factors influencing firms' trade-offs are their size and the pollution levels of their primary businesses, highlighting the importance of both capability and immediacy for firms when making decisions. Furthermore, the event study shows that environmental regulations initially impact firms' profits in heavily polluting industries in the short run. However, environmental regulations can gradually enhance those profits in the long run by reducing marginal costs and upgrading industrial structures in treated regions. This paper provides insights for a deeper understanding of firms' heterogeneous choices and dynamic effects of innovation behaviors.
本文利用企业层面的面板数据，研究了中国低碳城市（LCC）试点的准实验，并估计了环境法规对企业在绿色创新和数字创新之间权衡的动态影响。结果表明，环境法规短期内导致企业绿色创新增加，长期内促进企业数字化转型。此外，影响企业权衡的关键因素是企业规模和主营业务的污染水平，这凸显了企业在做出决策时能力和紧迫性的重要性。此外，事件研究表明，环境法规短期内会对重污染行业的企业利润产生初始影响。然而，环境法规可以通过降低边际成本和升级处理地区的产业结构，在长期内逐步提高这些利润。本文为深入了解企业的异质选择和创新行为的动态效应提供了新的见解。
