Research On Environmental Regulation,technological Innovation And Firm Financial Performance

Through perfecting the administrative management system of environmental protection,revising laws and other ways,the implementation of stricter environmental regulation measures,which affect enterprises’ behaviors such as environmental protection measures and pollutant emission,will inevitably further affect the business situation of enterprises.Then,will enterprises cope with the adverse effects of environmental regulation and improve corporate performance by increasing R&D investment? This article attempts to analyze the influence of environmental regulation on technical innovation and the final effects on corporate financial performance,at the same time,considering the different situation of state-owned enterprises and non-state-owned enterprises,this paper attempts to further compare the effect of environmental regulation on technical innovation and the final effects on corporate financial performance in the state-owned enterprises and non-state-owned enterprises.Firstly,on the basis of reading a lot of domestic and foreign research,this paper combs,classifies,reviews and reviews.Then the main concept definition and theoretical framework involved are analyzed.Secondly,this paper carries on the theoretical analysis and sets the research hypothesis.Thirdly,based on the annual data of listed A-share manufacturing enterprises,this paper conducts empirical analysis to verify the hypothesis put forward.Finally,by summarizing the above conclusions,this paper provides targeted suggestions for policy guidance and enterprise development on the basis of theoretical analysis and empirical analysis.This paper analyzes the impact of environmental regulation on technological innovation and financial performance of enterprises and its influencing mechanism.The main conclusions are as follows: 1.Environmental regulation has a positive promoting effect on financial performance;2.2.Environmental regulation can significantly promote enterprise technological innovation;3.Technological innovation plays a mediating role between environmental regulation and financial performance;4.Environmental regulation plays a stronger role in promoting technological innovation in state-owned enterprises than in private enterprises;5.The higher the financing constraint,the greater the degree of government subsidy,and the stronger the promoting effect of environmental regulation on technological innovation.The innovation of this paper lies in: 1.It enriches the research on the mechanism of how environmental regulation improves corporate financial performance,and analyzes the relationship between environmental regulation,technological innovation and corporate financial performance from a micro perspective.2.Government subsidies and financing constraints are selected as moderating variables to enrich the research on the effects of environmental regulation policies.