Research On The Influence Of Environmental Regulation On Enterprise Performance From The Perspective Of Technological Innovation

The environment is the basic condition for human survival.The regeneration and sustainable supply of environmental resources is the fundamental guarantee for the sustainable development of a country's economy and society.However,since mankind entered the industrial revolution,science and technology and productivity have increased substantially,the economy has developed rapidly,and the environment has been seriously damaged,In the second half of the 20 th century,human development has begun to threaten human living environment and sustainable development on a global scale.development of.There are three main viewpoints in the academic world on the relationship between environmental regulation and corporate performance: neoclassical economic theory emphasizes that additional costs will have an impact on the profitability,product prices,market demand,product innovation,and investment decisions of related industries.Porter's dynamic competition theory believes that through technological innovation and improving resource utilization efficiency,environmental regulation can substantially improve the competitiveness of enterprises while making up for the costs incurred by enterprises in complying with environmental regulations.The third view is that the relationship between environmental regulation and corporate performance is not clear due to the objective existence of corporate heterogeneity and industry differences.Technological innovation is an effective way to coordinate the contradiction between environmental regulation and corporate performance.The academic world has different views on the relationship between environmental regulation and corporate performance.Therefore,in this study,we used data from 726 A-share listed companies in 27 manufacturing industries in China from 2011 to 2017 to establish a model to explore the relationship between environmental regulation and corporate performance,and to demonstrate product innovation and processes.Transform the intermediary role of the relationship between environmental regulation and corporate performance.The conclusions of this study are mainly divided into the following four types: In the short term,the improvement of environmental regulation intensity will have a negative impact on corporate performance,but this negative impact will continue to decrease over time.In the short term,environmental regulation has obvious reverse inhibition effect on product innovation and process transformation,and the inhibition of environmental regulation on product innovation is greater than the inhibition of environmental regulation on process modification,but this negative impact over time More advancement is declining.Product innovation and process transformation play a partial intermediary role in the process of environmental regulation to inhibit corporate performance,but also indirectly affect enterprise performance through product innovation and process innovation,and product innovation The mediation effect is slightly greater than the mediating effect of process transformation.The environmental regulation of sample enterprises in the eastern region has a stronger intermediary effect on technological innovation,enterprise performance and technological innovation than the enterprises in the western region.Finally,on the basis of theoretical analysis and empirical research,this study proposes relatively rationalized countermeasures from the three levels of government,enterprises and the public,in order to achieve a "win-win" situation of China's environmental protection and economic growth.