经济新常态下环境规制对政治关联丧失企业研发投入的影响——基于我国制造业上市公司的实证分析

The influence of Environmental Regulation on the loss of R&D Investment in political Relational Enterprises under the New normal of economy——Based on the empirical Analysis of listed Manufacturing companies in China

随着中国经济发展进入新常态,在环境规制及政治关联丧失的双重背景下企业创新亟须改变,结合波特假说,综合采用DID和DDD差分法检验经济发展新常态背景下环境规制对政治关联丧失企业研发投入的影响。研究结果表明:政治关联丧失促进企业增加研发投入,政治关联丧失层级越高,越能促进企业增加研发投入;在中国经济发展进入新常态后,环境规制阻碍政治关联丧失层级较高的企业增加研发投入,但总体上在短期内不能显著促进政治关联丧失企业增加研发投入;在经济发达的东部地区,环境规制对政治关联丧失企业研发投入具有显著的负面影响。本文用实证检验进一步丰富了波特假说的理论框架。

Based on the fact that China's economic development has entered the new normal and the loss of environmental regulation and political connection, the innovation of enterprises needs to be changed urgently, combined with Porter hypothesis. DID and DDD difference methods are used to test the influence of environmental regulation on the loss of R&D investment in politically related enterprises under the background of the new normal of economic development. The results show that the loss of political connection promotes enterprises to increase R&D investment, and the higher the level of political relationship loss, the more can promote enterprises to increase R&D investment;After China's economic development enters the new normal, environmental regulation hinders enterprises with higher levels of political connection loss from increasing R&D investment, but on the whole, it is not significant in the short term. Promote the loss of political association enterprises to increase R&D investment, in the eastern region of economic development, environmental regulation has a significant negative impact on the loss of R&D investment of political affiliated enterprises. This paper further enriches the theoretical framework of Porter hypothesis by empirical test.