Managerial Ability,Economic Policy Uncertainty And Enterprise Green Innovation

In the process of industrialization in the past few decades,the level of human productivity has been greatly improved,but the process of industrialization has brought about the consumption of resources and the deterioration of the living environment while bringing about economy and wealth.In the face of increasingly serious environmental problems,countries around the world have issued a series of environmental policies to balance the relationship between economic development and environmental protection.In China,environmental protection has become a basic national policy,in recent years,it is fully aware of the same importance of environmental protection and economic development,and constantly advocate green development,to achieve coordinated and balanced development of the economy and the environment.Innovation is regarded as the core force to promote China’s economic growth and sustainable development,but to promote the high-quality development of the economy,only innovation is not enough,we must implement the concept of green development into innovation activities,so that innovative development and environmental protection are fully integrated.Green innovation takes into account environmental protection and economic development,so green innovation has become the key to solving problemsAs a kind of enterprise behavior,green innovation will be constrained by the internal and external environment of the enterprise at the same time.From the perspective of the internal environment of the enterprise,the manager is the formulator and planner of the strategic decision of the enterprise,and its ability directly affects its access to the relevant information of the decision,the use and allocation of related resources,thus affecting the green innovation of the enterprise;From the perspective of the external environment of the enterprise,the micro subject is sensitive to changes in the macro environment,and the subtle changes in the macro policy may cause major adjustments in the enterprise strategy,and the fluctuation of the economic policy greatly affects the production and business activities of the enterprise,and will also make the enterprise more cautious in determining the future strategic operation and development direction.Combining these two aspects,economic policy uncertainty will affect the judgment of business managers on the current and future development situation.Therefore,this paper starts from the study of the motivations that affect the green innovation activities of enterprises,combined with the impact of economic policy uncertainty,and studies the relationship between the ability of managers and the green innovation of enterprises.Taking the A-share listed companies in Shanghai and Shenzhen cities in China from 2017 to 2021 as the research sample,the manager ability data calculated by the DEA-Tobit two-stage model and the green innovation data integrated by the entropy value method are the initial data,the empirical test is carried out by constructing the multiple regression model,and the robustness test is carried out by the variable substitution method,and the endogenous test is carried out by the instrumental variable method,and the following conclusions are finally drawn:(1)There is a significant positive correlation between the manager’s ability and the green innovation of the enterprise;(2)The impact of economic policy uncertainty on enterprise green innovation is non-linear,showing an inverted Ushaped relationship;(3)Economic policy uncertainty has a negative regulatory effect between the ability of managers and the green innovation of enterprises.After robustness test and endogenous test,the above conclusions are robust.And through further heterogeneity research,it is found that according to the heterogeneity of equity nature,the positive effect of managers’ ability on enterprise green innovation and the inverted U-shaped effect of economic policy uncertainty on enterprise green innovation are significant in state-owned enterprises;In terms of industry heterogeneity,this relationship is significant in the manufacturing industry;In terms of regional heterogeneity,this relationship is not significant in all regions,but only in some areas.The innovation point of this paper is to enrich the relevant research on the driving factors of green innovation,try to introduce the macro factor of economic policy uncertainty,combine the macro and micro,and conduct research from the three perspectives of quantity,quality and efficiency of green innovation,and also expand the measurement angle of green innovation,so that empirical research is more comprehensive,more theoretical and practical.Combined with the theoretical analysis and empirical research of this paper,relevant policy suggestions are put forward from the three levels of government,enterprise and the public.Government level: attach importance to the role of human resources and create a good environment for the improvement of managers’ capabilities;When formulating and adjusting economic policies,we should try our best to be targeted,comprehensive,and transparent.Enterprise level: we should pay attention to the excavation and introduction of high-ability managers,reserve management talents for enterprises,and also train and motivate existing managers,stimulate the full play of managers’ capabilities,and enhance the current comprehensive management capabilities of enterprises;We should be more cautious about the dual role of economic policy uncertainty,and reasonably avoid related risks while seizing development opportunities.Public level: Strengthen attention to environmental issues,enhance awareness and literacy of intellectual property protection,and conduct friendly supervision of corporate activities.