| Since the reform and opening-up,China has achieved rapid economic growth,while the ecological and environmental problems caused by long-term extensive development have begun to appear intensively in recent years,which has seriously restricted the sustainable development of China’s economy and the improvement of people’s living standards.In order to alleviate many problems caused by the deterioration of ecological environment,China has continuously improved the important strategic position of ecological civilization construction in economic and social development in recent years.General Secretary Xi Jinping pointed out in the report of the 19 th National Congress that "building ecological civilization is the millennium plan for the sustainable development of the Chinese nation.We must establish and practice the idea that green mountains and green hills are golden mountains and silver mountains,adhere to the basic national policy of saving resources and protecting the environment,and treat the ecological environment like life.".It is foreseeable that in the future,China will adopt more stringent environmental protection measures to promote the construction of ecological civilization.How to solve the development problems will be the key task to realize the goal of building a socialist modernized country under the increasingly strengthened environmental regulations.Under the background of China’s economy entering a new normal development stage,relying on innovation-driven development strategy to promote economic transformation and upgrading is a necessary choice to solve the existing resource and environmental constraints.Therefore,a perfect environmental regulation system will realize the benign interaction between ecological civilization construction and innovation-driven development.However,compared with western developed countries,China’s research and practice in environmental regulation is still in the initial stage,and a complete and scientific environmental regulation system has not yet been formed.The concrete manifestation is that there is no scientific and reasonable basis for the choice of environmental regulation policies in China at present,and it is difficult to adapt to the requirements of China’s economic and social development by relying on a single environmental regulation policy tool for a long time,and it will limit the development of enterprises and economy to a certain extent.The long-term existence of this problem leads to the fact that China’s environmental regulations have not produced enough incentives for technological innovation while achieving short-term environmental governance goals.In recent years,information disclosure environmental regulation,which is mainly characterized by information disclosure,has been widely quoted by countries all over the world,and has played an important role in promoting technological innovation and ecological environment protection.Therefore,in order to make up for the lack of incentives for technological innovation in traditional environmental regulation policy tools,it is necessary to analyze the technological innovation effect of information disclosure environmental regulation in China,so as to achieve the win-win goal of ecological civilization construction and innovation-driven development by improving China’s environmental governance system.The main purpose of this paper is to investigate the practice of information disclosure environmental regulation in China,analyze the possible role of information disclosure environmental regulation in innovation-driven development based on the reality of technological innovation,and verify the impact of information disclosure environmental regulation on technological innovation of cities and enterprises in theoretical and empirical analysis.This paper comprehensively adopts the research methods of literature analysis and practice analysis,theoretical analysis and empirical analysis,comparative analysis and case analysis,static analysis and dynamic analysis to study the impact of information disclosure environmental regulation on technological innovation.First,by analyzing the realistic basis of information disclosure environmental regulation and technological innovation in China,this paper discusses the possible role of information disclosure environmental regulation in technological innovation incentives.Secondly,this paper analyzes the mechanism of the impact of information disclosure environmental regulation on technological innovation,and constructs an econometric model based on the data of cities and enterprises to empirically test the actual impact of information disclosure environmental regulation on technological innovation in China.Finally,aiming at the problems existing in China’s technological innovation-oriented environmental regulation of information disclosure,this paper puts forward corresponding policy suggestions on the basis of drawing on the advanced experience of other countries.The main conclusions of this paper are as follows:First,on the mechanism of the impact of information disclosure environmental regulation on technological innovation,this paper argues that the traditional environmental regulation policy tools with command control and market incentive as the main features only include the government and enterprises,which will easily lead to collusion between local governments and polluting enterprises under the condition of asymmetric information.Even under the strict environmental regulation system,enterprises still lack incentives for technological innovation.When the public participates in the ecological environment governance in the form of the third-party regulatory body,it can weaken the collusion between the government and enterprises,and thus produce technological innovation incentives from outside the enterprises.The basis of public participation in environmental actions lies in the effective information supply system.Information disclosure environmental regulation further strengthens external constraints through consumer choice and reputation mechanism,promotes the elimination of backward production capacity and the development of high-tech industries,and realizes the optimization and upgrading of regional industrial structure.At the same time,information disclosure environmental regulation can effectively regulate the technological innovation incentive of traditional environmental regulation under the condition of alleviating environmental information asymmetry.In addition,good environmental information disclosure conditions can help financial institutions effectively identify enterprise environmental risks,thus making effective investment decisions and alleviating financing constraints faced by enterprises in technological innovation activities.Secondly,in the empirical test of the impact of information disclosure environmental regulation on regional technological innovation,this paper uses the Environmental Information Disclosure Measures(Trial)implemented in 2008 to construct a quasi-natural experiment,and constructs a double difference model and a spatial double difference model based on the panel data of 264 prefecture-level cities in China from 2003 to 2018 to test the impact of urban environmental information disclosure on the level of technological innovation and its spatial spillover effect.Parallel trend test,PSM-DID method and placebo test are used to verify its robustness,and the main conclusions are as follows: the environmental information disclosure policy has significantly improved the overall level of urban technological innovation,and can improve the urban technological innovation structure by increasing the proportion of invention patents and green patents;The promotion of environmental information disclosure to urban technological innovation is realized by promoting the adjustment of urban industrial structure and the intermediary mechanism of public participation;Heterogeneity analysis shows that urban location has little influence on the technological innovation effect of environmental information disclosure policy,but the significant degree of this effect in heavily polluted cities is lower than that in mild and low-polluted areas;There is a positive spatial correlation between the technological innovation level of cities;The impact of urban information disclosure environmental regulation on technological innovation between cities has significant positive spatial spillover effect;With the increase of geographical distance,the spatial spillover effect of information disclosure environmental regulation on urban technological innovation will show the characteristics of first strengthening and then declining,and provincial boundaries have great influence on technological innovation spillover effect of environmental information disclosure.Thirdly,on the empirical test of the impact of information disclosure environmental regulation on technological innovation of enterprises,this paper builds a regression model based on the panel data of Chinese A-share listed enterprises from2008 to 2019,tests the impact of information disclosure environmental regulation on technological innovation of micro-enterprises,and further analyzes the impact mechanism,heterogeneity and possible threshold effect.The main conclusions are as follows: environmental information disclosure and environmental management system certification,two types of information disclosure environmental regulations,have a positive role in promoting technological innovation of enterprises,but the incentive effect of technological innovation of voluntary environmental management system certification is weaker than that of mandatory environmental information disclosure;In terms of the impact on the structure of technological innovation,environmental information disclosure can promote the proportion of enterprise invention patents and green patents,while environmental management system certification can promote the proportion of utility model patents,and is not conducive to the increase of enterprise invention patents;Quantile regression results show that the impact of environmental information disclosure quality and environmental management system certification on technological innovation of enterprises is positive,and with the improvement of quantile,the impact of environmental information disclosure quality and environmental management system certification on technological innovation shows the characteristics of first strengthening and then weakening;The impact of information disclosure environmental regulation on technological innovation of enterprises will show some heterogeneity with different regions where enterprises are located.The incentive effect of environmental information disclosure in eastern region is better than that in other regions,and environmental management system certification has no significant impact on technological innovation of enterprises in all regions.The impact of information disclosure environmental regulation on technological innovation of enterprises will show some heterogeneity with different industries.Environmental information disclosure and environmental management system certification have no significant impact on technological innovation of enterprises in heavy polluting industries,but have a significant positive impact on technological innovation of enterprises in non-heavy polluting industries,while environmental information disclosure has no significant impact on technological innovation of high-tech enterprises.The impact of information disclosure environmental regulation on technological innovation ofXenterprises will show some heterogeneity with the different nature of enterprises.The environmental information disclosure quality of state-owned enterprises has a significant positive impact on technological innovation,but has no significant impact on local state-owned enterprises and non-state-owned enterprises.The environmental management system certification has a significant positive impact on technological innovation of non-state-owned enterprises,but has no significant impact on state-owned enterprises.Environmental information disclosure and environmental management system certification,both of which can effectively alleviate the financing constraints of enterprises,and have an impact on technological innovation through this intermediary mechanism;Environmental information disclosure and environmental management system certification,two types of information disclosure environmental regulations,can effectively adjust the incentive effect of traditional environmental regulation policy tools on technological innovation of enterprises.Based on the above analysis,this paper has made innovations in the following four aspects: First,it has perfected the research framework of the Porter Hypothesis on the choice of appropriate environmental regulation tools.This paper systematically explains the emerging theoretical concept of information disclosure environmental regulation through concept definition and theoretical basis,and investigates its influence on technological innovation through practical analysis,theoretical discussion and empirical test,which provides a possible direction for the follow-up research in this field.Secondly,it enriches the theoretical analysis framework of the impact of information disclosure environmental regulation on technological innovation.This paper analyzes the influence mechanism of information disclosure environmental regulation on regional technological innovation from the angles of public participation and industrial structure adjustment,and analyzes the influence mechanism of information disclosure environmental regulation on enterprise technological innovation from the angles of adjusting traditional environmental regulation and relieving enterprise financing constraints,which provides a new theoretical basis and research perspective for adopting diversified environmental regulation policy tools to achieve the win-win goal of ecological civilization construction and innovation-driven development.Thirdly,it expands the empirical research on the impact of information disclosure environmental regulation on regional and enterprise technological innovation.This paper makes a systematic and in-depth test of the actual effects of three types of information disclosure environmental regulation policy tools,namely,urban environmental information disclosure,enterprise environmental information disclosure and environmental management system certification,on technological innovation by innovatively using the sample data from both cities and enterprises,thus further expanding the empirical experience of Porter Hypothesis in China. |
PDF Full Text Request