《环境空气质量标准(2012)》的实施能否助推中国企业高质量发展?

The Effect of New Ambient Air Quality Standards on the High-quality Development of Chinese Enterprises

当前我国经济正处于由高速增长阶段转向高质量发展的阶段,而经济高质量发展终究需要通过企业高质量发展予以实现。环境规制政策对企业高质量发展至关重要。本文基于中国上市公司污染密集型行业工业企业数据,以《环境空气质量标准(2012)》政策为准自然实验,采用双重差分法实证研究了该政策的实施对企业高质量发展的影响。研究发现,该政策的实施显著促进了企业的高质量发展。同时,新标准政策的实施主要影响的是非国有企业和环境规制力度强的地区。进一步研究发现,该政策是通过倒逼企业的技术创新和治理结构优化来促进企业的高质量发展的。上述结论对新时代以创新驱动为核心的高质量发展政策制定具有一定的启示。

China’s economy is in a stage of transition from high-speed growth to high-quality development,which is based on high-quality development of enterprises.Environmental regulations are essential for high-quality development of enterprises.Not much existing research focuses on the impact of the New Ambient Air Quality Standards on the quality of enterprise development.Using the data of industrial companies in pollution-intensive industries in China’s listed companies,this article selects the policy of"New Ambient Air Quality Standards(2012)"as the quasi-natural experiment,and uses the DID(difference-in-differences)approach to estimate the effect of the implementation of"New Ambient Air Quality Standards(2012)"on the high-quality development of enterprises.The study finds that the implementation of this policy significantly promotes the high-quality development of enterprises.Meanwhile,Moreover,its impact has ownership and regional heterogeneity.We also finds that the policy increases the high-quality development of enterprises by improving its technological innovation and optimizing its governance structure.This study has a lot of policy implications for the innovation-driven high-quality development in China.