Research On The Impact Of Corporate Undertaking Environmental Responsibility On Green Technology Innovation

With the rapid advancement of industrialization,China’s manufacturing industry has developed rapidly and has become an important support for the national economy.However,the following problems such as environmental pollution,ecological damage and resource depletion have seriously restricted the sustainable development of China’s economy.In order to change this economic growth model at the expense of the environment and form an energy-saving,emission-reduction,green and low-carbon industrial structure and production mode,my country released the "Made in China 2025" strategy in 2015,proposing a development that focuses on "green development".The strategy clearly points out that the manufacturing industry should follow the development path of "innovation-driven and green-driven",highlighting the dominant position of green innovation and development in the manufacturing industry,and driving China to become a manufacturing power.As the engine of high-quality development of the real economy,manufacturing enterprises actively respond to the country’s call for green development,actively participate in environmental governance,and lead the green innovation and development of enterprises,which are the top priorities of current economic development work.In this context,it is crucial to explore the impact of manufacturing enterprises’ environmental responsibility on green technology innovation.By combing and summarizing relevant literature,it is found that most of the current domestic and foreign literature on green technology innovation focuses on the macro-environmental policy level,while the research on green technology innovation at the micro-level of enterprises is relatively lacking,and the regulatory effect of the educational background of senior management team and the government environmental protection subsidies is less involved.Therefore,on the basis of summarizing the existing research,this paper defines concepts such as corporate environmental responsibility,the educational background of the executive team,government environmental protection subsidies,and green technology innovation.Taking the A-share manufacturing enterprises in Shanghai and Shenzhen from 2009 to 2019 as the research sample to explore the impact of corporate environmental responsibility on green technology innovation,as well as the moderating role of the educational background of the executive team and government environmental protection subsidies.In the further research,the impact path of corporate environmental responsibility on green technology innovation is deeply analyzed and discussed,and the heterogeneity analysis of financing constraints and management behavior is carried out.The research results show that:(1)The environmental responsibility of enterprises is positively correlated with green technology innovation.(2)The educational background of the senior management team strengthens the positive relationship between corporate environmental responsibility and green technology innovation.(3)Government environmental protection subsidies can strengthen the role of enterprises in promoting green technology innovation by taking environmental responsibility.(4)Further research finds that social capital plays a partial intermediary role between corporate environmental responsibility and green technology innovation.Enterprises strengthen their own social capital accumulation by taking environmental responsibility,thus positively affecting green technology innovation.(5)The role of corporate environmental responsibility in promoting green technology innovation only exists in companies with weak financing constraints and management with a long-term vision for development.This paper examines the impact of corporate environmental responsibility on green technology innovation by means of empirical research,and provides a useful reference for the green transformation and development of China’s manufacturing industry and the construction of a green manufacturing system.The innovations of this paper are as follows: First,it enriches the research on green technology innovation of enterprises taking environmental responsibility,and provides theoretical support for my country’s manufacturing industry to actively participate in environmental governance and achieve green transformation and development.Second,it broadens the research scope of corporate environmental responsibility on green technology innovation,and incorporates the moderating role of educational background of the executive team and the government environmental protection subsidies into the research framework,it enriches the research content.Third,the government subsidy is subdivided.The reasons why enterprises receive government subsidies are multi-level,considering that the research of this paper is about the impact of corporate environmental responsibility on green technology innovation,it focuses on the role of environmental protection subsidies,to improve the pertinence of research.