Lu Haiyan, Zhang Yinda, Jiang Jingjing, Cao Guoliang
School of Economics and Management, Harbin Institute of Technology (Shenzhen), Shenzhen, China.
J Environ Manage. 2025 Feb;375:124183. doi: 10.1016/j.jenvman.2025.124183. Epub 2025 Jan 24.
Motivated by increasingly strengthened market-based environmental regulations, enterprises intend to pursue both pollution reduction and competitive edge through developing green innovation. Although the volume of green innovation has increased substantially, some of them are not successfully commercialized to pay rewards for enterprises. Hence, how market-based environmental regulations affect enterprise green innovation commercialization is urgently to be explored. Using Chinese manufacturing enterprise panel data, this paper finds that market-based environmental regulations impact enterprise green innovation commercialization in an inverted U shape relationship. Regarding influencing factors, on the technical dimensions, market-based environmental regulation can improve the green innovation commercialization through improving the green innovation quality. Concerning non-technical factors, market development level, openness level and regional green innovation capacity can positively moderate the inverted U shape relationship between market-based environmental regulation and enterprise green innovation commercialization. Finally, it is found the impact of market-based environmental regulation on enterprise green innovation commercialization varies both at the regional and enterprise level. Based on the results, policymakers should optimize the use of market-based environmental regulation by considering its nonlinear impact on green innovation commercialization. Policymakers can also improve non-technical factors, including market development level, openness level and regional green innovation capacity, to increase the positive impact of market-based environmental regulation on enterprise green innovation commercialization.
受日益强化的市场化环境规制的驱动，企业意图通过开展绿色创新来实现污染减排与竞争优势的双重目标。尽管绿色创新的数量已大幅增加，但其中一些并未成功实现商业化，无法为企业带来回报。因此，亟待探索市场化环境规制如何影响企业绿色创新商业化。本文利用中国制造业企业面板数据发现，市场化环境规制对企业绿色创新商业化的影响呈倒U形关系。在影响因素方面，从技术维度来看，市场化环境规制能够通过提高绿色创新质量来促进绿色创新商业化。就非技术因素而言，市场发展水平、开放程度和区域绿色创新能力能够正向调节市场化环境规制与企业绿色创新商业化之间的倒U形关系。最后发现，市场化环境规制对企业绿色创新商业化的影响在区域和企业层面均存在差异。基于上述结果，政策制定者应考虑其对绿色创新商业化的非线性影响，优化市场化环境规制的运用。政策制定者还可改善包括市场发展水平、开放程度和区域绿色创新能力在内的非技术因素，以增强市场化环境规制对企业绿色创新商业化的积极影响。
