ISSN 2096-2533

CN 42-1881/F



  • 当期目录


发布时间:2024-03-29作者:秦炳涛 刘依婷 林敢浏览次数:12



The Innovation Compensation of Environmental Law Enforcement: Evidence from the Green Technology Innovation of Companies

AbstractThe innovation of green technologies has emerged as a pivotal catalyst for propelling high-quality economic development. Within this context, environmental law enforcement, characterized as a hard constraint, raises the question of its potential efficacy in fostering corporate innovation in green technologies. Grounded in corporate-level environmental penalty data spanning the years 2010-2020 and green patent data from listed companies, the empirical investigation utilizes a Poisson regression model to scrutinize the impact effects of environmental law enforcement on corporate green technological innovation, along with its micro-level operative mechanisms. The research found that the environmental law enforcement demonstrates a propensity to stimulate green technological innovation at the corporate level, a conclusion robustly upheld through a battery of sensitivity analyses involving the replacement of dependent variables and alterations in econometric regression methodologies. Mechanism analysis reveals that environmental law enforcement engenders an innovation compensation effect on corporate green technological innovation, acting as a stimulus for companies to augment green investments, thereby facilitating endeavors in green technological innovation. Over the long term, green investment emerges as a mechanism through which environmental law enforcement consistently and durably fosters corporate green technological innovation. Environmental law enforcement manifests a cost effect on corporate green technological innovation, as environmental penalties are found to escalate a company's green expenditures, consequently exerting a moderating influence on the pursuit of green technological innovation. Heterogeneity analysis indicates a more pronounced impact of environmental law enforcement on green technological innovation for state-owned enterprises and those entities associated with significant environmental pollution. Despite the observed stimulation in the quantity of corporate green patents, environmental law enforcement does not concurrently elevate the quality of such patents. In contrast to warning-oriented and fine-based environmental law enforcement, the confiscation, sealing, and seizure approach demonstrates a heightened capacity for deterrent impact, thereby serving as an incentivizing mechanism for enterprises to undertake innovations in green technologies. In its entirety, this study provides a novel perspective for comprehending the impetus driving green technological innovation, while concurrently offering scholarly substantiation and decision-making guidance for the refinement of environmental law enforcement frameworks and the realization of high-quality economic development.

Keywords: Environmental Law Enforcement; Green Investment; Green Cost; Green Technology Innovation