Research On The Influence Of Green Technology Innovation On The Financial Performance Of China’s Automobile Manufacturing Enterprises

With the rapid development of China’s economy,more and more attention has been paid to the regulation of automobile manufacturing enterprises.Because automobile manufacturing enterprises are not only an important pillar of China’s economy,but also one of the main sources of environmental pollution.The green technology innovation of automobile manufacturing enterprises has a great impact on the environment and quality of people’s life in China.Previous studies on the impact of green technology innovation on the economic performance of enterprises have not come to a unified point of view.Some scholars believe that the green technology innovation of enterprises require a lot of capital or other resources,which will affect the operation and performance of enterprises and reduce the development speed and level of enterprises.However,based on Porter hypothesis,some scholars hold the opposite view,they think that green technology innovation can reduce the consumption of enterprise resources,improve production efficiency,and promote the growth of enterprise performance.After years of research and discussion,there is no consensus on the issue,and the results are more diverse and complex.Therefore,this paper takes China’s automobile manufacturing enterprises as the point to study and discuss the relationship between micro level green technology innovation and enterprise financial performance.According to certain rules,this paper selects the automobile manufacturing enterprises in China,and obtains five years data of 63 automobile manufacturing enterprises listed in Shanghai and Shenzhen stock markets from 2015 to 2019,and puts forward the related research hypotheses of the relationship between green technology innovation and enterprise financial performance and the research hypotheses of moderate variable.According to the above assumptions,this paper constructs the theoretical model,and takes Tobin Q as the dependent variable,green invention patent and green utility patent as the independent variables,absorptive capacity as the moderate variable and analyzes the data of sample enterprises,verifies the relevant assumptions,and draws the following conclusions: first,the green technology innovation has a positive effect on China’s automobile manufacturing.Second,absorptive capacity has a significant negative moderating effect on the relationship between green technology innovation and corporate financial performance.According to the conclusions,the paper puts forward targeted suggestions and opinions from two aspects,hope to not only enrich the micro level theory of the impact of green technology innovation on enterprise financial performance,but also help enterprise decision-makers understand the relationship between absorptive capacity,green technology innovation and financial performance more clearly and effectively,so as to promote the green sustainable development of enterprises.