Research On Environmental Regulation,technological Innovation Investment,and Green Total Factor Productivity Of Enterprises

With the rapid development of the Chinese economy,the living standards of the people have significantly improved,but this has also brought new environmental challenges.Environmental regulation has gradually become a key measure to achieve sustainable development and high-quality economic growth.With the acceleration of globalization,the manufacturing industry is no longer limited to energy consumption and low-cost labor,but requires more use of advanced technology to enhance its innovation capabilities,so as to stand out in the division of labor system of the global value chain and avoid serious environmental pollution and ecological damage.Consequently,this article examines the effects of environmental regulations and investment in technological innovation on the green total factor productivity of manufacturing enterprises,as well as what mechanisms are in place to make such a difference.This article empirically examines the connection between environmental regulation and A-share manufacturing listed companies in Shanghai and Shenzhen from 2016 to 2020 by utilizing data from existing literature research.Investment in technological innovation,enterprise green total factor productivity,and the mediating role of such investment,all based on the theoretical research framework of environmental regulation,are explored.Investment in technological innovation and e.The research results show that:(1)environmental regulations have a negative impact on the current green total factor productivity of enterprises;(2)Environmental regulations have a negative impact on technological innovation investment;(3)The mesomeric effect of environmental regulation is seen in the hindrance of green total factor productivity of enterprises,which is caused by the lack of investment in technological innovation.(4)An examination of the heterogeneity of property rights,industry,and regional attributes of enterprises revealed that the impact of environmental regulations on their green total factor productivity is varied;state-owned manufacturing enterprises are more severely affected by environmental regulations,whereas high-tech manufacturing enterprises are relatively unaffected.Additionally,the inhibitory effect of environmental regulations on green total factor productivity of manufacturing enterprises in the western region is more pronounced.At last,the research results were taken into account.Proposals for the formulation of suitable environmental regulations and the utilization of technological advancement to foster green growth of businesses from both governmental and non-governmental perspectives are herein put forward.Entrepreneurships.At long last,The government should take a macro regulatory stance to encourage green transformation of enterprises,create environmental regulatory policies tailored to local conditions to ensure the accuracy of policy implementation,and combine rewards and punishments to reduce financial strain on enterprises.Furthermore,it should broaden the avenues for public involvement in environmental governance,thus enhancing its efficiency.Enterprises should:(1)strengthen investment in technological innovation,continuously improve their technological innovation level and competitive advantage;(2)Significantly increase the absorption of talent and cultivate employees’ awareness of technological innovation.