Foreign Direct Investment,Environmental Regulation And Green Innovation

With the deepening of reform and opening up and the implementation of the "going out" strategy,the OFDI of China has started and a number of strong multinational enterprises have been born.As an important way for China to enter the international market,OFDI has an increasingly prominent impact on China’s economic and industrial development.The relationship between OFDI and domestic technological innovation level has been widely discussed in academic circles.In addition,with the proposal of the "dual carbon" target,China has further deepened its green development and the level of environmental regulation has been increasingly improved.However,compared with some developed countries(regions),there is still a lot of room for improvement in the level of green innovation of Chinese enterprises.As an important way to acquire reverse technology,OFDI behavior of enterprises has strong research value and significance.Firstly,this paper analyzes the research gaps and directions existing in the current research situation by combing relevant literature.On the basis of literature analysis,this paper discusses the theoretical mechanism of OFDI influencing the relationship between green innovation and domestic environmental regulation.Finally,the data of 2,412 listed companies from 2010 to2018 were collated.From the perspective of green patents,propensity score matching(PSM)was used to optimize the sample data,and ordinary least squares(OLS),fixed effects model and multi-point difference in difference(DID)were used to verify the impact of OFDI on green innovation.After that,environmental regulation was introduced as a moderating variable to explore the moderating effect of domestic environmental regulation level on the impact of OFDI on green innovation mechanism,and firm heterogeneity was analyzed.The empirical study shows that OFDI activities can significantly promote the development of green innovation.Domestic environmental regulation has an obvious regulating effect,which can deepen the degree of enterprises’ influence on green innovation through OFDI to a certain extent.Different types of enterprises have different OFDI motivations,different impacts on green innovation,and different moderating effects of environmental regulations.These findings for the government of the relevant policy provides a certain reference value,this paper accordingly suggested that the Chinese government shall encourage and guide enterprises to carry out targeted technology for foreign direct investment activities,we will further improve the environmental protection laws and regulations,strengthening the construction of carbon emissions trading right market and patent protection system,the escort for the innovative development of the enterprise,We will promote industrial transformation and upgrading.Enterprises should actively integrate into the national development strategy,vigorously promote green innovation,and give consideration to development and benefits.