The Effect Of Low-carbon Pilot On Enterprise Green Technology Innovation

Under the background of “double carbon”,the society pays high attention to carbon.As early as 2010,the low-carbon pilot has put forward requirements for carbon reduction in China.It is necessary to distinguish between green and ordinary technological innovation,in order to find out whether the enterprise’s carbon reduction is a response to the policy,or the driving force of sustainable development accompanied by a new concept of development.First of all,this dissertation reviews the research of low-carbon pilot and green technology innovation,and compares the policy requirements of the three low-carbon pilot.At the same time summarizes the measures of low-carbon pilot,and analysis the changes of green technology innovation.By interpreting the theoretical connotation of low-carbon pilot,extends the AABH model to analyze the effects of different types of innovation on carbon emission,and judge that the equilibrium of green technology innovation including the factors of low-carbon pilot,such as environmental regulation tools,market demand and supervision,relaxation of financing constraints and environmental guidance.Secondly,in order to explore the relationship between low-carbon pilot and enterprise green technology innovation,this dissertation establishes A multi-period differential difference model based on the data of A-share listed companies in Shanghai and Shenzhen from 2007 to 2019.The results of basic regression show that low-carbon pilot promotes enterprise green technology innovation.In order to mitigate the endogeneity of the model,this dissertation ran a series of tests,including parallel trend test,placebo test,PSM-DID test,excluding outliers,replacing dependent variables,excluding other policy interference,reverse causality and instrumental variables.In addition,through the heterogeneity analysis of the types of green patents,enterprises and cities,this dissertation concludes that the low-carbon pilot can promote the green invention patent of alternative energy,transportation and administration and the green utility model patent of alternative energy,and low-carbon pilot are more likely to stimulate green innovation in non-state-owned enterprises,industrial industries and carbon-intensive enterprises;as well as in enterprises located in eastern cities and key cities.Thirdly,this dissertation selects environmental regulation index,carbon emission trading pilot,media attention,residents’ carbon emissions,SA index and corporate environmental responsibility,to measure the variables of command-based regulation tools,market-based regulation tools,public opinion supervision,market demand,financing constraints and green development strategy,and uses two-step method to test whether the above variables were the mechanism of promoting the effect of low-carbon pilot on green technology innovation.The results show that command-based regulatory tools,market-based regulatory tools,the alleviation of corporate financing constraints and corporate green strategy are the mediating variables for low-carbon cities to promote green technology innovation.At the same time,this dissertation further analyzes the enterprise green innovation can enhance the competitiveness of enterprises.At last,this dissertation analyzes the adjustment effect of market competition on pilot.Finally,based on the above contents,this dissertation puts forward policy suggestions on the implementation of low-carbon pilot,urban low-carbon construction and green transformation of enterprises.