A Study On The Impact Of Government Regulation Or Green Innovation In Construction Firms

Since the reform and opening up,China’s economy has been growing at a high speed and continuously.In the process of innovation and development,the contradiction between natural resources and the ecological environment in China has become more and more obvious,and the issue of ecological environment has been paid more and more attention by the scholars.Therefore,"green innovation",which combines innovation and development with environmental problems,has become a topic of common concern for all mankind.However,green innovation of enterprises has externalities.It is difficult to achieve rapid development of green innovation by relying on the market alone.It requires the government’s policy tools to guide the market.As a "visible hand",the government can guide the market and enterprises to the road of green innovation by using regulations reasonably.Therefore,how to further improve our government regulation system,continue to strengthen its functions,and promote the construction of ecological civilization in China is a problem that our government and all sectors of society should pay close attention to.Therefore,under the background that the government emphasizes environmental protection,considering that green innovation of construction enterprises is critical to environmental protection and improvement,this paper analyzes the impact mechanism of government regulation on green innovation of construction enterprises through specific empirical research,and considers the regulatory role of corruption between government regulation and enterprise green innovation.Based on the theory of market failure,government interference and regulation,the paper chose 102 listed companies from 2011 to 2017 as a sample to analyze the relationship between local government regulation and enterprise green innovation in 17 Chinese provinces,and introduced corruption as the adjusting variable,This paper studies the regulatory role of corruption in the process of the impact of government regulation on green innovation of construction enterprises.The OLS model is constructed and verified by stata software,and the following conclusions are drawn:(1)The relationship between government regulation and green innovation of construction enterprises is inverted U-shaped.When the level of government regulation is low,with the improvement of the intensity of government regulation,the level of green innovation of construction enterprises is higher;When the government regulation level is high,with the improvement of the government regulation intensity,the green innovation level of construction enterprises will decline.(2)When the intensity of government regulation is low,corruption weakens the positive correlation between government regulation and green innovation of construction enterprises;When the intensity of government regulation is high,corruption reduces the negative correlation between government regulation and the green innovation of building companies.On the basis of the above findings,some suggestions are proposed:(1)Enhance the consciousness of green innovation and enhance the management level of green innovation.(2)Different regions formulate differentiated government regulation policies.(3)We will resolutely and severely punish government corruption.Through combing the previous literature,most of the studies on the relationship between government regulation and green innovation are analyzed by building a linear model of government regulation and green innovation.The research form and path are relatively simple.This paper not only constructs an inverted U-shaped model between government regulation and green innovation,but also studies the indirect effects between them,builds a regulatory effect model,and enriches the research form.Secondly,the research of government regulation on the perspective of green innovation of enterprises has made many achievements with reference significance,but these achievements are mainly concentrated in manufacturing enterprises,energy enterprises,and heavily polluting enterprises.Under the background of domestic construction industry advocating green transformation and development,in this paper,the government regulation mechanism of Chinese construction enterprises’ green innovation is discussed,so as to promote the development of green construction industry.Finally,the existing literature on corruption mostly focuses on the role of corruption on economic growth at the macroeconomic level,while the literature on the micro enterprise level is less and mostly discusses the intermediary role of corruption between government regulation and enterprise innovation.In this paper,corruption is included in the transmission mechanism of government regulation and green innovation of enterprises.Considering its regulatory effect,it also has certain research value.However,there are also some defects in this paper:(1)In addition,due to the limitations of the research object,the amount of data used in this paper is slightly lower.Future research should track as many projects as possible,and collect panel data indicators to enrich possible research dimensions,so as to achieve more exploration probability.(2)There are a lot of factors that influence the enterprise’s green innovation.Because the data is limited,this article can not control all the influential factors.In order to overcome this limitation,future research can further improve the empirical model by controlling macro regional factors.