企业绿色发展、政府补贴和研发支出——兼论企业的道德发展层级

Corporate Green Development,Government Subsidies and R&D Expenditures:Also on the Corporate Ethical Development Hierarchy

当前各界对我国上市公司践行绿色发展理念,究竟是出于自身经济利益的现实选择,还是社会和企业多方共赢的博弈结果,尚存在争议。结合科尔伯格的道德发展层级理论,利用2008—2017年上市公司数据,对我国绿色发展企业的研发及补贴利用情况开展实证研究的结果表明:我国上市公司践行绿色发展理念的确可以获得更多的政府补贴,但与此同时,这些企业也会开展更多的研发活动,并且政府补贴在绿色发展和研发支出之间发挥了中介作用,整体上绿色发展企业的道德认知水平达到科尔伯格道德发展的第二层级。进一步研究发现,企业所在地区的环境规制力度越强,其践行绿色发展越倾向于将政府补贴投入到研发活动中,而所在行业的竞争程度则负向调节政府补贴的中介作用。据此,应加强监督管理,强化政府和市场在推动企业绿色发展过程中的协调作用。

At present,all circles are still in dispute over the green development idea practiced by China’s listed companies:whether it is a realistic choice out of their own economic interests or the result of a win-win game between the society and enterprises.Combining with Kohlberg's theory of moral development hierarchy and using the data of listed companies from 2008 to 2017,this paper conducts an empirical study of the current situation of R&D expenditure and the subsidy utilization of China's green development firms.The results show that China's firms which practice green development idea can indeed get more government subsidies;meanwhile,these firms will launch more R&D activities.Also government subsidies are playing an intermediary role between green development and R&D expenditures.This reflects that the moral cognitive level of firms practicing green development idea has reached the second level of Kohlberg’s moral development on the whole.It is found through further research that the stronger the environmental regulation strength in the region,the more inclined such firms are to invest the government subsidies into the R&D activities,while the degree of industrial competition negatively moderates the mediating effect of the government subsidies.Accordingly,it is essential to strengthen supervision and management,and to enhance the coordination between government and market in the process of promoting the corporate green development.