环境规制、产品空间演化与企业导向性技术创新——基于上市公司制造业企业的证据

Environmental Regulation,Evolution of Product Space and Directed Technology Innovation of Firms:Evidence from China’s Listed Manufacture Sector Firms

基于实证产业组织和演化经济地理研究范式,本文构建了环境规制内生影响企业导向性技术创新的理论与实证研究框架,利用我国上市公司的制造业企业数据,创新性地基于非线性工具变量的控制函数方法,实证分析了污染费征收对于上市公司绿色技术创新绩效的影响效应及其潜在作用机制。研究结论表明,精准的环境规制政策激励了企业绿色技术创新,企业产品相关性与城市产品相关性是影响企业导向性技术创新的关键因素,产业间的前向与后向联系进一步强化了环境规制的激励创新效应,并且不同城市的企业效应存在显著差异。在潜在作用机制方面,环境规制通过内生影响企业TFP、企业的行业技术赶超、优化行业资源配置等渠道显著影响了企业导向性绿色技术创新。本文认为,导向型环境规制与城市产品空间演化是引致我国上市公司绿色技术创新的主要原因。

Based on empirical industrial organization and evolutionary economic geography and theory,this paper proposes a coherent theoretical and empirical framework to identify and quantify the causal effect of environmental regulation,measured in pollution fee,on green technology innovation at the listed firm level and its potential channels.To purge out potential endogeneity issue,this paper innovatively adopts the nonlinear IV control func-tion approach.The empirical results are as follows:environmental regulation encourage firm’s green technological innovation,the embedded product and city technology relatedness are the pivotal reason leads to firm’s green innovation,moreover,the forward and backward linkage for different firms strengthen the direct technological innovation of firms.Its effects are heterogeneous for different cites of China.The potential Channels of it lies in improving TFP,speeding catch-up of industry technology frontier and optimizing resources allocation at aggregated industry level.Environmental regulation and product evolution are the pivotal reasons for firm’s green technological innovation of listed manufacture sector firms.