异质性环境规制能否激励企业创新和绩效提升?

Can Heterogeneous Environmental Regulation Stimulate Enterprise Innovation and Performance Improvement?

基于2012—2019年A股重污染行业上市公司面板数据,运用实证分析的方法对异质性环境规制的作用效果进行检验。结果显示,异质性的环境规制均能够显著促进企业进行绿色技术创新,命令控制型环境规制、市场激励型环境规制和公众参与型环境规制都验证了强“波特假说”,在环境规制下绿色技术创新能够发挥其中介作用,显著促进财务绩效的提高。在进一步研究中,异质性的环境规制在产权及地区的分组回归分别体现出不同的回归结果。根据研究结果,对政府合理调整环境规制以及企业正确看待环境规制提出相关建议。

Based on the panel data of Listed Companies in China’s A-share heavy pollution industry from 2012 to 2019,the method of empirical analysis is used to test the effect of heterogeneous environmental regulation.The results show that heterogeneous environmental regulation can significantly promote enterprises to carry out green technology innovation.Command control environmental regulation,market incentive environmental regulation and public participation environmental regulation all verify the strong“Porter Hypothesis”.Under environmental regulation,green technology innovation can play its intermediary role and significantly promote the improvement of financial performance.In further research,the group regression of heterogeneous environmental regulation in property rights and regions shows different regression results.According to the research results,relevant suggestions for the government to reasonably adjust environmental regulation and enterprises to treat environmental regulation correctly are put forward.