Green Innovation,Environmental Pressure From External Stakeholders And Sustainable Competitive Advantages Of Enterprises

For a long time,our country’s economic development has been based on the extensive model of high resource consumption and high environmental pollution,which is a high-speed and low-quality development at the expense of the environment.With the improvement of the economic level,the Chinese government and the public are increasingly aware of environmental protection,and are looking for a new model of higher quality and more sustainable economic growth.As the micro-main body of the national economy,the sustainable development of the enterprise is the cornerstone of the sustainable development of the country and society,and the important way for the sustainable development of the enterprise is to create a sustainable competitive advantage.Because of its dual externalities of "technology spillover"and "reduction of environmental costs",green innovation has become an important tool for achieving a win-win situation for economic growth and environmental protection.However,enterprises are limited by their original perceptions and believe that green innovation has risks and requires additional resource input,which is a squeeze of the limited resources of the enterprise,and its timely compensation is insufficient.As a result,most companies still deal with environmental issues in a reluctant manner,and there is insufficient motivation for green innovation.Whether green innovation can enhance a company’s sustainable competitive advantage,how effective it is,whether there are boundary conditions in the application of green innovation,and other key issues that companies are concerned about,urgently need to be explained.Based on the above background,this article believes that it is necessary to study the impact of green innovation on the sustainable competitive advantage of enterprises.This article first summarizes the impact of green innovation on corporate performance and competitive advantage by combing the literature,and summarizes the influencing factors of sustainable competitive advantage from the three perspectives of resources,innovation and responsibility.Through the summary of relevant theories and the collection of expert opinions,this paper constructs a comprehensive evaluation index system for sustainable competitive advantage.Furthermore,an empirical analysis is carried out with a sample of China’s A-share manufacturing listed companies from 2015 to 2019 to test the impact of green innovation on the sustainable competitive advantage of enterprises.The research results show that:(1)Green innovation has a significant positive impact on the sustainable competitive advantage of companies,and this impact is significantly different among companies in different industries,different property rights,and different regions.Green innovation has a significant positive impact on sustainable competitive advantages in clean industries,state-owned,and eastern enterprises;however,this impact is not significant in high-polluting industries,non-state-owned,and central and western enterprises.(2)In the environmental pressure of external stakeholders,the pressure of environmental regulation from the government and the pressure of public opinion from the media have a significant positive regulatory effect on the impact of green innovation on the sustainable competitive advantage of enterprises.