Regulatory greening: The impact of environmental legislation on corporate green innovation

被引：0

作者：

Zhang, Xiaoding ^{[1
]}

Niu, Yiran ^{[1
]}

Si, Deng-kui ^{[2
]}

Xiao, Zumian ^{[1
]}

机构：

[1] Shandong Univ Finance & Econ, Sch Finance, Jinan 250014, Shandong, Peoples R China

[2] Qingdao Univ, Sch Econ, Qingdao, Shandong, Peoples R China

来源：

ECONOMIC ANALYSIS AND POLICY | 2024年 / 82卷

关键词：

Environmental legislation; Corporate green innovation; Management green awareness; Tone of MD & PORTER HYPOTHESIS; EMPIRICAL-EVIDENCE; TEXTUAL ANALYSIS; PROTECTION; STANDARDS; AWARENESS; COST;

D O I：

10.1016/j.eap.2024.03.012

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

China ' s New Environmental Protection Law (NEPL) is an important adjustment in the face of the " new normal of economic development " . Leveraging the Difference -in -Difference (DID) method, we discern the multifaceted positive effects of the NEPL on both the qualitative and quantitative dimensions of green innovation. The mechanism analysis indicates that the enactment engenders heightened environmental awareness among senior management, increased cash holdings, and released financing constraints, leading to enhance the green innovations. Interestingly, a positive tone of management discussion and analysis (MD &A) can amplify the NEPL ' s effect on green innovation scale, but its moderating effect on the quality development is not significant. Furthermore, the NEPL can more comprehensively and significantly enhance the green innovation activities in capital -intensive industries and large corporations.

引用

页码：359 / 376

页数：18

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