Research On The Impact Of Environmental Regulation On The High Quality Development Of Enterprises

In the past,China’s economic development has come at the cost of the environment,considering only GDP and ignoring environmental damage.However,as environmental problems become more and more serious,the government begins to pay attention to environmental problems and formulate environmental regulation policies to protect the environment,while enterprises are the first to bear the brunt of the problem.They need to rectify and pay pollution charges and other expenses and increase investment in environmental protection.These are bound to have a certain impact on the development of enterprises.How to minimize the adverse impact of environmental regulation on the development of enterprises and achieve a win-win situation between environmental regulation and high-quality development of enterprises is a topic worthy of discussion and research.Based on the research of scholars at home and abroad after finishing analysis,according to the theory of environmental regulation,technology innovation theory and the porter hypothesis as the basis,put forward the corresponding research hypothesis,and by using 2011-2017 data of a-share listed companies in our country,with entropy method to measure high quality development level,and then using Stata software to deal with relevant variables,by environmental regulation effects on the enterprise to develop high quality,and inspection technology innovation will an intermediary role between the two,and validation of the differences between different regions and different characteristics of enterprises.The results show that :(1)For the full sample of firms,environmental regulation has a positive impact on the high quality development of firms;Environmental regulation promotes the high-quality development of enterprises in the eastern region,but has limited effect on the high-quality development of enterprises in the central and western regions.The effect of environmental regulation on promoting the high-quality development of non-state-owned enterprises is more obvious.The positive impact of environmental regulation on the high quality development of light pollution enterprises is more significant.(2)For the full sample of firms,technological innovation plays a mediating role in the impact of environmental regulation on the quality development of firms;Technological innovation plays an intermediary role between the two in the eastern region enterprises,but does not play an intermediary role for the enterprises in the central and western regions.For both state-owned enterprises and non-state-owned enterprises,technological innovation plays a partial intermediary role.For heavy pollution enterprises,technological innovation does not have an intermediary effect,but for light pollution enterprises,technological innovation has a partial intermediary effect.Finally,based on theoretical analysis and empirical research conclusions,this paper puts forward reasonable countermeasures and suggestions from the government level and the enterprise level in the hope of achieving a win-win situation between environmental regulation and high-quality development of enterprises.In addition,the research limitations and future prospects of this paper are also mentioned to pave the way for future research.