Environmental Regulation,Government Enterprise Collusion And The Application Of Green Technology In Chinese Enterprises

With the increasingly severe situation of resource constraints,serious environmental pollution and ecosystem degradation,the demand for ecological transformation is rising all over the world,and countries are gradually seeking the transformation from traditional economy to green economy.Only by speeding up the adjustment of industrial structure and breakthrough technological innovation can we truly achieve green growth.According to the report of the 19th National Congress of the Communist Party of China,it is necessary to build a market-oriented green technology innovation system,and the subject and object of R&D investment should be transferred to enterprises.However,while the state strongly encourages enterprises to improve the level of green technology innovation,the problem of idle green technology in polluting enterprises can not be ignored.We must correct the moral hazard in the process of green technology application through government environmental regulation.At the present stage,our government also promotes enterprises to improve the application rate of green technology by increasing environmental supervision and guiding the public to participate in environmental governance,so as to promote the effective implementation of green development mode.Based on the literature review,it is found that the research on green technology at home and abroad is becoming more and more perfect,but most of the research focuses on the impact of green technology innovation level,while ignoring the widespread moral hazard problems in the application of green technology in practice,and no research on how to promote the real application of green technology in enterprises,It is impossible to put forward specific suggestions on how to solve the problem of idle green technology in many enterprises.Based on the existing research,this paper takes 312 listed companies in China’s iron and steel industry as the research object to explore the impact of environmental regulation and government enterprise collusion on the application level of green technology in Chinese enterprises.First of all,through the construction of the dual principal-agent model between the central government,local government and enterprises,and its solution and simulation,this paper analyzes the impact of the central government’s key attention and assessment indicators on the enterprise’s application of green technology.The results show that:the degree of green technology application is positively related to the environmental benefit assessment coefficient of the central government to the local government,the collusion-degree of the local government and the enterprise,and the environmental benefit coefficient of the enterprise.The collusion between the local government and the enterprise will lead to the damage of the environmental protection interests of the central government.Secondly,based on the panel data of 312 listed companies in China’s iron and steel industry from 2008 to 2017 and the corresponding panel data of 30 provinces,cities and autonomous regions(except Tibet,Hong Kong,Macao and Taiwan),this paper introduces two interactive items:environmental regulation and government enterprise collusion,environmental regulation and government environmental information disclosure,This paper makes an empirical analysis on the relationship between different environmental regulation tools and the application level of green technology under the influence of government enterprise collusion,and the results show that:in the case of government enterprise collusion,the effect of environmental regulation on the application of green technology is reduced.The government environmental information disclosure can effectively promote the application of green technology,and the promotion effect is the best.In order to improve the application level of green technology,it is necessary to solve the problem of collusion between government and enterprises first,so as to effectively implement government policies and measures,and the disclosure of government environmental information can effectively solve the problem of collusion between government and enterprises and reduce moral hazard.Finally,according to the conclusion and the actual situation of our country,the paper puts forward some targeted policy suggestions:improve the environmental regulation system,implement differentiated environmental regulation policy;Promote the growth and agglomeration of green innovation subjects,and encourage the independent innovation of resource-based enterprises;We should strengthen the supervision of the central government over local governments and improve the mechanism of public participation;Improve the environmental governance information disclosure system to ensure the fairness and transparency of environmental information.