Research On The Influence Of Environmental Regulation On Enterprise Green Technology Innovation

Since the 19 th national congress of the communist party of China(CPC)clearly put forward the requirements for high-quality development,China’s economic growth pattern has been transformed from factor driven to innovation-driven.In order to realize the win-win situation of harmonious coexistence and common development of environment and economy,green technology innovation is imperative.However,due to the crowding out effect of technological innovation and the uncertainty of innovation output,enterprises often hold a negative attitude towards technological innovation,which requires appropriate policy incentives to promote the play of innovation compensation effect and guide enterprises to carry out green technology innovation.In particular,with the official introduction of environmental protection tax in 2018,the important reform of replacing pollutant discharge fee with environmental tax is of great significance for China to promote the construction of ecological civilization.In the face of the increasingly strengthened environmental regulations,this paper focuses on how to improve the awareness of green technology innovation,complete the economic transformation with internal impetus,and grasp the favorable external conditions of tax incentives and government support to obtain the first mover advantage of green technology innovation.Taking 29 industrial enterprises above the scale of provinces,autonomous regions and municipalities directly under the central government as the research object,this paper selected 435 samples of provincial panel data from 2003 to 2017,and established a multiple regression model to explore the influence mechanism of environmental regulation intensity on enterprises’ green technology innovation level.The empirical study found that there was a positive u-shaped relationship between the intensity of environmental regulation and the level of green technology innovation,and government subsidies played part of the mediating effect in promoting enterprises’ green technology innovation.Further found that the direct effect of environmental regulation on green technology innovation and government subsidies for the mediation effect of the first half of the path are the preferential tax adjustment,the enterprise will be preferential tax levels obtained according to their own independent choice degree of dependence on government subsidies,and eventually reached the requirements of environmental regulation and obtain the core competence of technology innovation.This paper is rich in research results on the effect of environmental regulation policies and incentive factors of enterprise green technology innovation,and expands the research perspective of environmental regulation means combined with fiscal and tax policies to stimulate enterprise green technology innovation.At the end of the paper from the diversification of environmental regulation policy,research and development support the differentiation of policy,policy implementation,the standardization of the three aspects put forward constructive Suggestions for the government,and from planning to raise their innovative consciousness,the reasonable resource and environmental regulation methods flexibly Angle for enterprises to grasp the development and tax reform opportunity for technology innovation to provide high quality feasibility reference.