| The rapid development of our country’s manufacturing industry has brought great damage to the environment while making great achievements.The government’s environmental regulation came into being.Environmental regulation not only deterred enterprises’ pollution discharge,but also had a certain impact on the technological innovation of manufacturing enterprises.The research on the impact of environmental regulation on technological innovation in academia is no more than the controversy over the "Porter Hypothesis",that is,whether there is an appropriate intensity of environmental regulation can promote technological innovation of enterprises.Technological innovation can be divided into green technological innovation and non-green technological innovation according to the amount of economic and environmental benefits.Combined with the concept of environmental protection,the quality of technological innovation can be divided into non-green substantive innovation,non-green strategic innovation,green substantive innovation and green strategic innovation,the choice of the type of technological innovation by an enterprise is essentially a trade-off between the costs and benefits generated by different types of technological innovations.Therefore,different environmental regulation intensities affect the costs and benefits of technological innovation types,which promotes Enterprises choose different types of technological innovation.On the basis of literature review,this paper analyzes the mechanism of action of the overall trend selection of green technology innovation and non-green technology innovation in the manufacturing industry,and of the trend selection of technological innovation quality,and the industry heterogeneity of green and non-green technology innovation trend selection,corresponding hypotheses are put forward.According to the relevant data,it analyzes the status quo of the effectiveness of our country’s manufacturing environmental regulation,green technology innovation and non-green technology innovation.The proposed hypothesis is tested empirically.This paper selects the micro data of A-share listed companies in the CNRDS,WIND,and CSMAR databases,the "China Environmental Statistical Yearbook",EPS and industry data from the National Bureau of Statistics to construct the core variables of green technology innovation,non-green technology innovation,non-green technology innovation,substantive innovation,non-green strategic innovation,green substantive innovation,green strategic innovation and environmental regulation,further relying on the number of green patent applications and the number of non-green technology patent applications to build two types of technological innovation knowledge stock quota,and based on manufacturing emission intensity of industrial pollutants is divided into clean industries and polluting industries,and the theoretical hypothesis and mechanism of action proposed are empirically tested by using the system GMM method.The results show that: as far as the overall manufacturing industry is concerned,the intensity of environmental regulation affects enterprises’ innovation in green technology.Compared with the choice of non-green technological innovation trends,when the level of environmental regulation is weak,enterprises tend to choose to increase the proportion of non-green technological innovation.Moderate-intensity environmental regulation puts enterprises in a transitional period of technological innovation path transformation.At this time,enterprises do not Choose any technological innovation path.When the level of environmental regulation is strong,companies tend to choose to increase the proportion of green technological innovation.The reason for the above trends is that enterprises have a path-dependent role in knowledge stock when making technological innovation choices,and high-intensity environmental regulation and high-level R＆D investment will further crowd out non-green technological innovation,which strengthens green technological innovation,the path dependence effect of non-green technology innovation is weakened.Strict environmental regulation will induce enterprises to carry out higher-quality technological innovation.Specifically,in the process of increasing the intensity of government environmental regulation,enterprises tend to choose the order of non-green substantive innovation,non-green strategic innovation,green strategic innovation,and green substantive innovation.Technological innovation choices also have industry heterogeneity.When the level of environmental regulation is weak,the cleaning industry and polluting industry tend to increase the proportion of non-green technological innovation.When the level of environmental regulation is strong,the cleaning industry and polluting industry tend to increase the proportion of non-green technological innovation.Continue to improve,and the polluting industry will cross the inflection point of the technological innovation path faster.According to the research conclusions,the following suggestions are put forward:moderately increase the strictness of environmental regulation,continue to strengthen the connection between environmental policy and technological innovation policy,continue to increase R＆D investment to change the non-green technological innovation path of enterprises,and formulate different environments according to industry differences regulatory policy. |
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