Research On The Impact Of Environmental Regulations On Enterprise’s Green Technological Innovation

The 19th National Congress of the Party put forward the expression of high-quality development for the first time,which shows that China’s economy is no longer in a stage of rapid growth,but has shifted to a stage of high-quality development.For companies,they also need to adapt to the future macroeconomic situation of high-quality development.Promoting technological innovation,especially green technology innovation,is the only way for companies to move towards high-quality development.On the whole,the current research on green technology innovation is still in the ascendant stage,especially how to effectively learn from the experience of foreign green technology innovation and development to improve my country’s environmental problems and environmental governance system.At present,as one of the important means to promote environmental governance,environmental regulation is considered by a large number of scholars and government officials to be one of the most powerful tools,which can greatly restrict the environmental problems of enterprises in the production and operation process,and force enterprises to carry out green innovation..But at the same time,some scholars believe that strict environmental regulations are not conducive to the long-term development of enterprises,and even curb their green innovation capabilities.In view of the above background,this article believes that it is necessary to study the impact of environmental regulations on the company’s green technology innovation capabilities and to further clarify the channels for the impact of environmental regulations on the company’s green technology innovation capabilities.This can help companies and governments to more effectively understand the impact of environmental regulations on environmental governance.Mechanism of action and effect.Therefore,this article will select the data of A-share listed companies from 2010 to 2019 to analyze the impact of environmental regulations on the company’s green technology innovation capabilities,and further explore the mediating effect of R&D investment and the moderating effect of government subsidies.The research of this article mainly includes five parts.The first part is an introduction.It first explains the background and significance of research on environmental regulation and corporate green technology innovation;then,it sorts out the existing related literature from different aspects,mainly including research on environmental regulations and corporate green technology innovation,environmental regulations and corporate green technology innovation.Research on the relationship between green technology innovation,research on the impact of environmental regulations and R&D investment on corporate green technology innovation,and related research on the impact of government subsidies and environmental regulations on corporate green technology innovation,and summarized the progress of existing literature research and the existing Expansion on the basis of literature;then,the research methods and innovation points are explained.The second part is related theoretical basis and mechanism analysis.This part first defines the main related concepts,such as environmental regulation,R&D investment,government subsidies and corporate green technology innovation;secondly,it elaborates and analyzes related theories.,Including externality theory,Porter hypothesis and institutional economics theory;finally,according to the existing literature and related theories,it analyzes the influence mechanism of environmental regulation on enterprise green technological innovation,and puts forward corresponding research hypotheses.The third part is mainly related to the model construction of this article.Based on the theoretical analysis and corresponding research hypotheses in the second part,the third part introduces the corresponding sample selection and data description,variable selection and definition,and empirical model construction ideas.The fourth part is an empirical analysis of the impact of environmental regulations on corporate green technological innovation.Collected A-share listed company data from 2010 to 2019 for empirical analysis and tested the four corresponding research hypotheses proposed.In this part,the content of empirical analysis mainly includes descriptive statistical analysis,correlation analysis,multicollinearity test,regression analysis,heterogeneity analysis,endogeneity test and robustness test.The fifth part is the research conclusions and suggestions.This article mainly summarizes the research conclusions of the full text,gives corresponding research suggestions,and proposes future research prospects.By collecting data of A-share listed companies from 2010 to 2019 as a research sample for empirical analysis,this article draws the following conclusions: First,the impact of environmental regulations on the level of green technology innovation of enterprises is significantly positive,and environmental regulations increase by 1 A percentage point will lead to a 0.045 percentage point increase in the level of corporate innovation.This shows that the government can force enterprises to increase the level of green innovation through environmental regulations.Secondly,it is also found that after the addition of R&D investment,the coefficient and significance of environmental regulations on corporate green technological innovation have been reduced,but environmental regulations still have a significant impact on corporate green technological innovation,which shows that environmental regulations can directly improve corporate green technology.Technological innovation will also promote green technological innovation of enterprises by promoting R&D investment,which means that R&D investment has a partial mediating effect on the impact of environmental regulations on corporate green technological innovation.Third,further analyze the regulatory effect of government subsidies.The coefficient of the interaction between government subsidies and environmental regulations on corporate green technology innovation is 0.003,which has passed the 1% significance level test,which shows that government subsidies have an impact on corporate green technology in environmental regulations.There is a positive moderating effect in the process of innovation,which means that under strong government subsidies,environmental regulations can greatly stimulate the willingness of enterprises to achieve sustainable development through the improvement of the level of green technology innovation.Finally,it is found that the impact of environmental regulations on corporate green technological innovation is not significant among non-state-owned enterprises,but the impact on state-owned enterprises is significantly positive,which indicates that state-owned enterprises have stronger motivation to respond to environmental regulations by improving the level of green technological innovation;,The impact of environmental regulations on corporate green technology innovation is not significant in small companies but is significantly positive in large companies;this indicates that large companies have stronger incentives to respond to environmental regulations by improving the level of green technology innovation;finally,this article also finds The impact of environmental regulations on corporate green technological innovation is not significant in low-R&D-density companies,but is significantly positive in high-R&D-density companies,indicating that high-R&D-density companies have a stronger ability to respond to environmental regulations by improving the level of green technology innovation.