The Mixed Impact of Environmental Regulations and External Financing Constraints on Green Technological Innovation of Enterprise

被引：7
|
作者：
Wang, Mingyue [1 ,2 ]
Zhou, Junbi [3 ]
Xia, Xiaojin [4 ]
Wang, Zitong [1 ,2 ,5 ]
机构：
[1] Chinese Acad Sci, Inst Sci, 15 Zhongguancun Beiyitiao, Beijing 100190, Peoples R China
[2] Chinese Acad Sci, Inst Dev, 15 Zhongguancun Beiyitiao, Beijing 100190, Peoples R China
[3] Chinese Acad Sci, Natl Sci Lib, North 4th Ring Rd West, Beijing 100190, Peoples R China
[4] Tianjin Acad Sci & Technol Dev, 138 Xinkai Rd, Tianjin 300011, Peoples R China
[5] Univ Chinese Acad Sci, Sch Publ Policy & Management, 19 Yuquan Rd A, Beijing 100049, Peoples R China
来源：
INTERNATIONAL JOURNAL OF ENVIRONMENTAL RESEARCH AND PUBLIC HEALTH | 2022年 / 19卷 / 19期
基金：
中国国家自然科学基金;
关键词：
environmental regulation; green technological innovation; external financing constraints; inverted U-shaped relation; manufacturing firms; POLICY INSTRUMENTS; FIRM PERFORMANCE; PRODUCTIVITY; MANAGEMENT; SPILLOVER; SUBSIDY; ECONOMY; GROWTH;
D O I：
10.3390/ijerph191911972
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
Green technological innovation is an important force for high-quality economic development and high-level ecological environment protection. Environmental regulation and market financing are important factors affecting enterprise green technological innovation, while the relationship between environmental regulation and enterprise green technological innovation is most likely to be nonlinear. Additionally, this impact may be moderated by market financing. Based on the data of 2278 manufacturing enterprises in China, this article intends to empirically test the nonlinear relationship between environmental regulation and enterprise green technological innovation. Green technological innovation is divided into green process innovation and green product innovation. Based on this, the analysis of the heterogeneous impact of environmental regulations on different types of green technology innovation is implemented. Moreover, the moderating effect of external financing constraints on the relationship between environmental regulation and green technological innovation is further discussed. It shows that there is an inverted U-shaped relationship between environmental regulation and enterprise green technological innovation. This conclusion will not change due to the types of green technological innovation, while the impact of environmental regulation on enterprise green product innovation is greater than that of green process innovation. In addition, external financing constraints will reduce the impact of environmental regulation on enterprise green technological innovation. The research conclusions have certain reference value for deepening the understanding of green technological innovation and optimizing the relationship between government and market.
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页数：18
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