Reserch On The Influence Of Public Participation And Environmental Regulation On Green Technology Innovation Of Enterprises

In recent years,the CPC Central Committee and The State Council have attached great importance to enterprises’ green technology innovation and development,and made a series of important decisions and plans for enterprises’ green transformation,accelerating the development mode and upgrading the level of green technology innovation.With the rapid development of China’s industry,the economy has taken off rapidly.Long-term excessive consumption has intensified the consumption of ecological resources,energy and environment,resulting in imminent environmental problems.The development characteristics of heavy polluting enterprises with high pollution,high emission and high energy consumption have brought great harm to the environment.Therefore,under the background of the development of green economy,more attention should be paid to the green transformation path of heavy polluting enterprises.Since the 18th CPC National Congress proposed ecological civilization construction in 2012,the government has introduced a number of environmental regulation policies,providing a solid guarantee for the realization of sustainable environmental and economic development and the green development of enterprises.For a long time,the government’s development mode of restricting enterprise behavior has been stuck in the bottleneck,and it is difficult to catch up with the process of China’s modernization development.The unique advantages of public participation have been gradually discovered.Public participation has the unique advantage of making up for government failure and market failure,and it plays an increasingly obvious role in promoting the green development of enterprises.It also provides a new way for this paper to discuss the impact of public participation and environmental regulation on enterprises’ green technology innovation.Based on this,this paper takes 358 heavily polluting listed companies from 2012 to 2020 as research samples,uses the two-way fixed effect model to verify the mechanism of public participation on enterprises’ green technology innovation,and uses the mediating effect model to further verify the mediating effect of environmental regulation on the influence of public participation on enterprises’ green technology innovation.Finally,the impact of public participation on the heterogeneity of enterprises with different ownership properties is discussed,and five conclusions are drawn:(1)Public participation can significantly improve enterprises’ green process innovation;(2)Public participation can significantly improve enterprises’ green product innovation;(3)Environmental regulation plays a partial intermediary role in public participation in enterprises’ green process innovation;(4)Environmental regulation plays a partial mediating role in public participation in enterprises’ green product innovation;(5)Public participation has a significant positive effect on green process innovation in private enterprises and other types of enterprises,but has no significant effect on green process innovation in state-owned enterprises.Public participation has a positive effect on green product innovation in private enterprises,but has no significant effect on state-owned enterprises and other types of enterprises.Based on the conclusion of the paper,the following three policy recommendations are proposed:(1)Actively implement national policies and strengthen environmental information disclosure;(2)To supervise and standardize enterprise behavior and enhance public participation;(3)Give play to the intermediary function of the government to build a bridge between the public and enterprises.