Environmental Regulation,technological Innovation And Green Performance Of Enterprises

With the increasingly prominent environmental problems,the Chinese government has issued a series of policies to deal with environmental pollution,in order to achieve the construction of social ecological civilization and sustainable development of enterprises.Most of the existing researches focus on the relationship between environmental regulation,technological innovation and enterprise green performance,and few of them are integrated into a unified framework to explore their internal relationship.At the same time,in order to achieve the long-term goal of "made in China2025",the Ministry of industry and information technology has issued a number of lists of green manufacturing system construction,and the existing researches study the relationship between the three from the perspective of green factory listed companies The mechanism of action is scarce.Based on the externality theory,Porter hypothesis and Schumpeter innovation theory,this paper discusses the relationship between environmental regulation and enterprise green performance,and takes technological innovation as an intermediary variable into the model to examine its transmission mechanism in the process of the impact of environmental regulation on enterprise green performance,The robustness of the research conclusion was further verified by variable substitution method and sample area grouping.Based on the theoretical discussion and result analysis,the conclusions are as follows:(1)environmental regulation is conducive to improving the green performance of enterprises.Every 1% increase in environmental regulation will help enterprises to improve green performance by 3.808%,which verifies the existence of "Porter Hypothesis" in green factory listed companies;(2)environmental regulation is conducive to the improvement of enterprises’ technological innovation level.Every 1%increase in environmental regulation will promote the technological innovation capability of enterprises by 0.074%;(3)technological innovation has a significant positive effect on the green performance of enterprises.Every 1% increase of technological innovation will promote the growth of green performance of enterprises by 1.944%;(4)technological innovation plays a partial mediating role in the process of the impact of environmental regulation on green performance of enterprises,and the mediating effect is 0.114,accounting for 2.99% of the direct effect;(5)the order of the impact of environmental regulation on green performance of enterprises is: Central >Eastern > Western > whole sample,and the impact of environmental regulation on green performance of enterprises The influence of technological innovation on enterprise green performance is: Whole Sample > West > East > middle.Technological innovation plays a positive mediating effect in the whole sample,East and West,but a negative mediating effect in the middle.The mediating effect is: East > West > middle > whole sample.Finally,this paper enriches the research of Porter hypothesis on green factories and enterprises,and puts forward policy suggestions from the government,enterprises and the public,in order to find a win-win way for enterprises to obtain economic benefits and environmental benefits,and also provide some decision-making reference for the government to formulate appropriate environmental policies.