A Study On The Influence Of Environmental Regulation On The Innovation Of Manufacturing Enterprises

China's economic development is accompanied by serious environmental pollution problems,and government departments have repeatedly stressed the need to strengthen the construction of ecological civilization and environmental protection.In recent years,in order to improve environmental pollution,the national environmental protection department has continuously improved various environmental regulation policies and strengthened the intensity of environmental regulation in order to reduce the environmental pollution brought by the production and operation of enterprises.At present,manufacturing industry is the key to China's economic transformation,and the relationship between manufacturing development and environmental protection needs to be specially dealt with in the process of transformation.First of all,this paper selects the data of listed companies in manufacturing enterprises to construct discrete model(probit model)to empirically test the whole sample and the "Porter hypothesis" under different degree of marketization.Secondly,based on the classification of manufacturing industry,this paper further explores whether the impact of environmental regulation on the innovation of heterogeneous enterprises follows the "Porter hypothesis ".In this paper,the classification of manufacturing enterprises is as follows: state-owned enterprises andprivate enterprises;foreign-funded enterprises and non-foreign-funded enterprises;enterprises in different degree of marketization,respectively,empirical test heterogeneity of the whole sample and different degree of marketization under the background of heterogeneous enterprise environmental regulation on enterprises impact of innovation ability.Finally,taking environmental regulation as the threshold variable,this paper empirically tests the threshold effect of environmental regulation on the overall innovation ability of manufacturing industry and the threshold effect on heterogeneous manufacturing enterprises.The results of empirical test show that: first,in the whole sample,this paper has come to the conclusion that environmental regulation inhibits the innovation ability of manufacturing enterprises,but there is a positive square term in environmental regulation,which confirms the scientific nature of the "Porter hypothesis" theory.Secondly,the research on environmental regulation of heterogeneous enterprises shows that the promotion effect of environmental regulation policy on private enterprises is higher than that on state-owned enterprises,and the promotion effect of environmental regulation on innovation ability of foreign-funded enterprises is higher than that on non-foreign-funded enterprises.The positive and negative relationship of industry innovation is obviously stronger than that when the degree of marketization is not considered.Fourth,as a whole,there is a double threshold for theenvironmental regulation variables of manufacturing industry and the manufacturing industry as a whole has not crossed the first threshold;state-owned enterprises and private enterprises as well as enterprises in areas with higher degree of marketization have only one threshold,that is,the impact of environmental regulation on enterprise innovation is "U"";foreign-funded enterprises do not have a threshold,non-foreign-funded enterprises and enterprises in areas with lower degree of marketization have a double threshold.