环境规制促进企业价值提升——基于技术资本的中介效应检验

Environmental Regulations Promote Enterprise Value:Technology Capital Intermediary Effect Inspection

以沪深A股上市公司为样本,构建动态面板模型,基于技术资本的中介效应视角,挖掘环境规制对企业价值的影响路径。研究表明,环境规制、技术资本与企业价值具有明显的内在相关性,技术资本的中介效应显著成立。本研究不仅丰富了"波特假说"的现实证据,也对通过促进技术资本积累来改进环保绩效与可持续价值增长提供了有益的借鉴。

Using Shenzhen and Shanghai A‐share listed companies as samples ,this paper constructs a dynamic panel model and excavates effecting paths of environmental regulation to enterprise value from viewpoint of technology capital intermediary effect . The results show that environmental regulation , technological capital and enterprise value have obvious correlation ,meaning that the intermediary effect of technological capital is significantly supported .It not only enriches real evidences about Potter hypothesis , but also provides useful references to improve environmental performance and sustainable value grow th through promoting technological capital accumulation .