环保投资、环境技术与环保产业发展——来自环保类上市公司的经验证据

Environmental Investment,Environmental Technology and Environmental Industry Development: Evidence from Environmental Listed Companies

环保投资一方面通过"需求效应"派生出对环保产品和环保服务的需求,推动环保产业发展;另一方面则通过"技术效应"改进环境技术,进而促进环保产业发展。利用2003-2010年环保类上市公司的微观数据,通过中介效应模型,检验了环保投资对环保产业发展的作用。研究发现:目前环保投资主要通过需求效应促进环保产业发展,技术效应暂时仍未显现。因此,一方面应该看到环保投资对环保产业发展的促进作用;另一方面应该积极调整环保投资结构,促进环保投资"技术效应"的有效发挥。

Environmental investment not only promotes environmental industry by＂demand effect＂,but also influences environmental industry by ＂technique effect＂.This paper collected data for environmental listed companies from 2003 to 2010,and investigated the relationship between environmental investment and environmental industry development using mediator model.The＂demand effect＂ was proved,and the＂technique effect＂ has not yet appeared.Thus,on one hand,the promoting of environmental industry by environmental investment should be noted,and on the other hand,the structure of environmental investment should be adjusted to promote the ＂technique effect＂ of environmental investment.