Research On The Impact Of External Pressure On The Green Innovation Of Heavily Polluting Enterprises

Energy shortage,environmental pollution and excessive emission of carbon dioxide have become great challenges for China’s economic growth.In order to solve this problem,we must unswervingly follow the path of green development.Taking peak carbon dioxide emissions and carbon neutrality as opportunities,it is of great significance to strive to improve the level of green innovation of enterprises and empower high-quality development with green innovation.However,green innovation has "dual externalities".The mismatch between "free rider" caused by knowledge spillovers and environmental cost externalities and the high investment behavior of enterprises in green innovation has fundamentally hindered the green innovation power of enterprises.Studies have shown that external pressure plays an important role in promoting enterprises’ green innovation,but its mechanism and path are still unclear.Therefore,this paper identifies the external pressures faced by enterprises from the three dimensions of the government,the market and the public,and explores the impact of different types of external pressures on the green innovation of enterprises.At the same time,based on the attention-based view and resourcebased theory,the environmental attention and redundant resources of executives are introduced as mediating variables and moderator variables,respectively,to deeply analyze the impact and mechanism of external pressure on corporate green innovation.Through empirical analysis of 172 heavily polluting enterprises,the following conclusions are drawn:(1)All kinds of external pressure play an important role in promoting the green innovation of heavily polluting enterprises.Both environmental regulation and media attention have a significant positive impact on green innovation at the level of 5%,while market competition has a significant level of 10% on green innovation,which indicates that which indicates that the motivation of enterprises to carry out green innovation may come from the government’s strict environmental policies and public supervision to a greater extent.(2)TMT’s environmental attention plays a mediating role between external pressure and green innovation of heavily polluting enterprises,that is,external pressure affects the process of green innovation of enterprises by affecting the allocation of TMT’s environmental attention.In addition,TMT’s environmental attention plays a partial intermediary role in environmental regulation and green innovation of heavily polluting enterprises,and plays a complete intermediary role in market competition and media attention.That is to say,environmental regulation can directly or indirectly affect the green innovation of enterprises,while market competition and media attention must influence the allocation of executives’ attention to promote the green innovation of enterprises.(3)Redundant resources play an important moderating role in TMT’s environmental attention and green innovation in heavily polluting enterprises.When the redundant resources of enterprises are abundant,the risk-taking ability and self-confidence level of the senior management team will be enhanced,and then the attention and interpretation of environmental issues will be increased,and it is more likely that resources will be invested to carry out green innovation.Finally,based on the empirical results,this paper puts forward relevant suggestions from the aspects of focusing on external collaborative supervision,paying more attention to environmental issues,and rationally allocating internal resources,in order to provide reference for heavily polluting enterprises to improve the level of green innovation and realize sustainable development.