环境规制、绿色并购与绿色创新

Environmental Regulation,Green M&A and Green Innovation

在企业绿色发展的趋势下,环境规制已成为影响企业绿色并购和绿色创新的重要外部因素。研究发现:第一,正式环境规制和非正式环境规制都可以促进企业绿色并购,但两者的作用机制存在差异。第二,环境规制对企业绿色创新的影响存在促进、抑制和条件性三种具体情况。不同的环境规制手段和环境规制强度对绿色创新的影响也是异质的。第三,绿色并购可以促进绿色创新,但对于环境规制能否通过绿色并购促进绿色创新还存在争议,需要结合绿色并购背后的动因进行深入分析。

Under the trend of green development of enterprises,environmental regulation has become an important external factor affecting green M&A and green innovation of enterprises.The findings are as follows:first,both formal and informal environmental regulations can promote green M&A,but their mechanisms are different.Secondly,the impact of environmental regulations on enterprises’green innovation can be divided into three types:promotion,inhibition and conditionality.The influence of different environmental regulation means and intensity on green innovation is also heterogeneous.Third,green M&A can promote green innovation,but there is still controversy over whether environmental regulation can promote green innovation through green M&A,which needs to be combined with the motivation behind green M&A for in-depth analysis.