Research On The Impact Of Environmental Information Disclosure On Green Innovation Of Enterprises

Based on the background of green development and sustainable development,this paper explores the impact of environmental supervision of environmental information disclosure on green technology innovation at the micro-enterprise level,understands whether the level of environmental information disclosure can play a role in China’s green sustainable development,and provides suggestions for future policies.This paper focuses on the annual pollution source regulatory information disclosure index of 120 cities in China jointly released by the Public Environment Research Center(IPE)and the Natural Resources Conservation Association(NRDC)in 2009,and uses the number of green patents of listed enterprises to empirically explore the impact effect and internal mechanism of environmental information disclosure on green technology innovation of enterprises.The results show that environmental information disclosure plays a significant role in promoting green technological innovation of enterprises.The mechanism test shows that the disclosure of environmental information increases the R&D investment and environmental protection costs,thus promoting the green technology innovation of enterprises.The heterogeneity analysis found that the green technology innovation effect of state-owned enterprises and non-environmental subsidy enterprises was more obvious.Further regulatory effect analysis shows that the green technology innovation effect of environmental information disclosure is more obvious in areas with higher media attention,more active public participation in environmental governance and stronger government enforcement of environmental protection.This study not only provides a micro empirical basis for understanding the impact and mechanism of environmental information disclosure on green technology innovation of enterprises,but also provides a certain reference for follow-up policy recommendations and policy improvement methods.