Government's awareness of Environmental protection and corporate green innovation: A natural experiment from the new environmental protection law in China

被引：219

作者：

Fang, Zhenming ^{[1
,2
]}

Kong, Xiaoran ^{[2
,3
]}

Sensoy, Ahmet ^{[4
]}

Cui, Xin ^{[2
]}

Cheng, Feiyang ^{[2
]}

机构：

[1] Bohai Secur, Tianjin, Peoples R China

[2] Tianjin Univ, Coll Management & Econ, Tianjin, Peoples R China

[3] Shandong Univ Finance & Econ, Sch Finance, Jinan, Peoples R China

[4] Bilkent Univ, Fac Business Adm, Ankara, Turkey

来源：

ECONOMIC ANALYSIS AND POLICY | 2021年 / 70卷

基金：

中国国家自然科学基金;

关键词：

Environmental protection regulation; Green innovation; Information disclosure; EMPIRICAL-EVIDENCE; PORTER HYPOTHESIS; INVESTMENT EVIDENCE; RISK EVIDENCE; FIRM; PERFORMANCE; COMPETITIVENESS; DISCLOSURE; INCENTIVES; EMISSIONS;

D O I：

10.1016/j.eap.2021.03.003

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Based on the impact of the new environmental protection law promulgated by the Chinese government in 2015, we employ the difference-in-differences (DID) approach to investigate the impact of government environmental regulation on corporate green innovation. The evidence shows that government environmental regulation can significantly increase the number of green patents of heavily polluting industries. This result holds after a series of robustness tests. The analysis of the economic mechanism indicates that the new environmental protection law brings supervision pressure to heavily polluting firms, prompting them to improve the quality of information disclosure, thus improving green innovation. In addition, the regional economic development level, government subsidies, and public supervision can significantly affect the positive impact of the new environmental protection law. Meanwhile, the effect is more prominent in non-stateowned enterprises and in firms with small scale, low profitability, and weak internal governance. (C) 2021 Economic Society of Australia, Queensland. Published by Elsevier B.V. All rights reserved.

引用

页码：294 / 312

页数：19

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