Regulation On The Influence Mechanism And Economic Consequence Of Government Regulation On Corporate Green Innovation

Green innovation is conducive to promoting green transformation,building and developing green and low-carbon industries.It is an important path to green development and an inevitable requirement for implementing new development concepts and achieving high-quality development.Government regulation is an important factor affecting green innovation.Therefore,the government has introduced many policies to continuously improve the innovation policy system.However,in the context of the “carbon neutral” goal and green transformation,there are still many problems in green innovation.It is urgent to construct and perfect the multi-participant green innovation governance system,and improve corporate green technology innovation capability.Based on this,it is of great theoretical and practical significance to reveal the influence mechanism and economic consequences of government regulation on corporate green innovation from the perspective of media and consumer participation through comprehensive use of various methods.Based on the policy and practical background of Chinese corporate green innovation,we systematically review the literature on green innovation and government regulation,and combines externality theory,state intervention theory,stakeholder theory and evolutionary game theory to analyze government regulation,media report,consumer’ green purchase and corporate green innovation in the same framework.First,we build an evolutionary game model involving government,media,consumer and enterprise to explore the stable equilibrium strategy of green innovation system under different circumstances.Secondly,based on system dynamics simulation analysis,the key factors affecting the evolution process of green innovation strategy are discussed.Thirdly,taking listed companies in heavily polluting industries as samples,we empirically analyze the influence of government regulations on corporate green innovation capability,and tests the intermediary mechanism from the resource effect and pressure effect of government regulations.At the same time,the moderating effects of media reports and green purchase on government regulation and corporate green innovation capability are investigated.Finally,this thesis further studies the economic consequences.This thesis analyzes the influences of government regulation and green innovation capability on total factor productivity,and the moderating effects of media reports and consumers’ green purchase.The results show that:(1)With the participation of the government,media and consumer,the green innovation evolutionary game system has an ideal stable equilibrium state.Among them,corporate green innovation is related to the expected benefits and costs generated by their strategic choices,while government regulation,media report and green purchase are important factors affecting the expected benefits and costs of corporate green innovation.(2)Government subsidies and pollution charges,two kinds of government regulation tools,can promote enterprise to choose green innovation strategies,and the media report and green purchase have a superimposed effect on the two kinds of government regulation.(3)Further empirical study found that there is a “U-shaped” relationship between government subsidies,pollution charges and corporate green innovation capability;Government subsidies affect the green innovation capability of enterprises mainly through the resource effect.Pollution charges affect the green innovation capability of enterprises mainly through pressure effect.Media report strengthened the “U-shaped” relationship between pollution charges and green innovation capability,and green purchase strengthened the “U-shaped” relationship between government subsidies and green innovation capability.(4)Government regulation has a “U-shaped” influence on total factor productivity.Green purchase strengthens the “U-shaped” relationship between government subsidies and total factor productivity.Meanwhile,in the long run,corporate green innovation capability still has a positive impact on total factor productivity,and media report and green purchase also strengthen the “U-shaped”relationship between government regulation and total factor productivity.This thesis further reveals the influence of government regulation on green innovation under the participation of media and consumers.This thesis makes comprehensive use of the quadripartite evolutionary game,system dynamics and empirical research methods,starting from the dimensions of corporate green innovation strategy and green innovation capability,to study the influence mechanism of government regulation,media reports and green purchase on corporate green innovation,and explore its economic consequences from the perspective of total factor productivity.This thesis provides empirical evidence for enterprises to improve green innovation ability,and also provides policy suggestions for the government to improve green innovation governance system.This thesis includes 9 figures,32 tables and 186 references.