产权性质与企业绿色创新:基于决策权配置的异质性分析

The Nature of Property Rights and Enterprise Green Technological Innovation:An Analysis of Heterogeneity Based on the Allocation of Decision Rights

高质量发展要求环境与经济的协同发展。从微观视角看,企业的绿色创新是实现高质量发展的重要路径,但是不同产权性质的企业可能在高质量发展和绿色创新中发挥不同的作用。在此背景下,以2007—2019年A股上市公司为样本,探究了产权性质对企业绿色创新的影响,实证结果表明:国有企业的绿色发明专利申请和授予数量显著高于民营企业,但是国有企业的绿色实用新型申请和授予数量显著低于民营企业,说明在绿色创新方面,国有企业具有更高的实质性创新水平,而民营企业则具有更高的策略性创新水平。此外,国有企业更高的实质性创新水平在董事长与总经理两职分离的样本中更加显著,而民营企业更高的策略性创新水平则在两职合一的样本中更加显著。进一步分析表明,国有企业实质性的绿色创新和策略性的绿色创新均能帮助其获得政府补贴,而民营企业则更多通过策略性的绿色创新获取更多政府补贴。研究结论对于高质量发展和做强做大国有企业具有十分重要的现实意义。

High-quality development requires the coordinated development of environment and economy.From a micro perspective,green innovation of firms is an important path to achieve high-quality development,but enterprises with different property rights may play different roles in high-quality development and green innovation.In this context,this paper explores the impact of the nature of property rights on green innovation of firms by taking A-share listed companies from 2007 to 2019 as a sample,and the empirical results show that the number of green invention patent applications and grants of state-owned enterprises(SOEs)are significantly higher than private firms,but the number of green utility model applications and grants of SOEs are significantly lower than private firms,indicating that in terms of green innovation,SOEs have a higher level of substantive innovation,while private enterprises have a higher level of strategic innovation.In addition,the higher level of substantive innovation of SOEs is more significant in the firms with the separation of the chairman and manager positions,while the higher level of strategic innovation of private enterprises is more significant in the firms with the duality of the chairman and manager positions.Further analysis shows that both substantial green innovation and strategic green innovation of SOEs can help them obtain government subsidies,while private firms can obtain more government subsidies through strategic green innovation.This study is of great practical significance for highquality development and strengthening SOEs.