| In 2010,Chinas GDP has surpassed that of Japan and officially developed into the worlds second largest economy.However,economic growth has also brought about major environmental pollution problems.As a public resource,the environment should be maintained by the whole people.However,companies may also have a "free-riding" phenomenon.In the face of this phenomenon,the general government will issue relevant environmental regulations and policies to limit the relevant pollution discharge behavior of enterprises.This is an increase in costs for enterprises,and their performance may be quite different when faced with this increase in environmental costs.As a result,various schools have different views on how companies deal with corporate innovation when facing environmental regulatory policies.Traditional economics believes that the increase in corporate environmental costs is a burden that will restrict corporate innovation;Porter et al.Contrary to the conclusion,it is believed that although environmental costs increase,other compensations will also be brought about at the same time,which has given impetus to enterprise innovation.In this article,the comprehensive measurement index of the three wastes is used for reference to construct the intensity of environmental regulation policy,and the number of patent acquisitions is used as the innovation measurement index to study the impact of environmental regulation on enterprise innovation.This article believes that when environmental problems are increasingly prominent,environmental regulations will bring a guiding effect to enterprises in the long run to guide enterprises to innovate,thereby making up for the increase in environmental costs and the governments environmental regulatory constraints.This article takes the Shanghai and Shenzhen A-share listed companies from 2006 to 2018 as the research object,mainly studies the impact of environmental regulations on corporate innovation,and studies the differences in the impact of environmental regulations on corporate innovation capabilities from the perspective of corporate heterogeneity.After that,I tried to analyze the motivation behind it from three aspects:Porter hypothesis,induced innovation theory and marketing ability.Finally,the robustness test is carried out on the relevant conclusions about the relationship between environmental regulation and enterprise innovation.First of all,this paper verifies the impact of environmental regulations on enterprise innovation through empirical analysis,and finds that environmental regulations can significantly promote the innovation output of enterprises.In the further heterogeneity test,the following conclusions were drawn:(1)Environmental regulation can effectively promote the innovation output of non-state-owned enterprises;(2)Environmental regulation can effectively promote the innovation output of enterprises in the "two-control zone"(3)Environmental regulations can effectively promote the innovative output of non-heavy polluting enterprises.Afterwards,this article attempts to study the impact mechanism of environmental regulations on corporate innovation.This article conducts research from three aspects:Porter hypothesis,induced innovation theory and marketing ability.In the robustness test,this paper tests the innovation variables with current data,the data of the sum of the current period,the future one period,and the future two periods of the innovation variable,replaced the environmental regulation strength measurement index test,used Poisson regression for the test and DID test.Based on the conclusion that environmental regulations have a positive effect on corporate innovation,this paper puts forward constructive suggestions from the perspectives of government and enterprises.The government should use environmental regulations and policy tools rationally to increase environmental protection.Timely and effective communication with enterprises,give enterprises certain preferential policies;Enterprises will respond more actively to the governments environmental laws and policies,strengthen the communication between enterprises and enterprises,enterprises and the public,increase their own innovation investment,and actively abide by environmental laws and policies.This paper enriches the research on the relationship between environmental regulation and enterprise innovation by studying the impact of environmental regulation on enterprise innovation.From the perspective of enterprise heterogeneity,this paper analyzes the differences of the impact of environmental regulation on enterprise innovation.And from the Porter hypothesis,induced innovation theory and marketing ability,the impact mechanism of environmental regulation on enterprise innovation is studied.Finally,some constructive suggestions were put forward to the government and enterprises respectively. |
