Research On The Impact Of Urban Environmental Quality On Corporate Innovation

Innovation is the engine of national economic growth and the cornerstone of scientific and technological advancement.It is of great strategic significance.Corporate innovation is the basis for realizing our independent innovation.In addition,facing the increasingly fierce competition environment,corporate innovation is also the restriction condition for enterprises to have core competitiveness and occupy market position.Therefore,the influencing factors of corporate innovation have always been the focus of concern of enterprises,the government and the public,and also the hot topic of academic discussion.Scholars from the government,the market and the enterprise three aspects of corporate innovation influence factors have been fully discussed,and achieved fruitful results.However,few scholars have paid attention to the impact of urban environmental quality on corporate innovation,as well as the paths and boundaries of the impact.With the development of our economy,the problem of urban environment is becoming more and more serious.Environmental problems are not only threatening the residents’ happy life,but also hindering the survival and development of micro-enterprises.Therefore,the impact of urban environmental quality on corporate innovation as well as the related issues of influence paths and boundaries are worthy of in-depth discussion,and these issues are the focus of this paper.This paper matches the data of Chinese A-share listed enterprises from 2011 to 2020 with the environmental quality data of Chinese cities at prefecture level and above,obtains the comprehensive measurement index of urban environmental quality through the principal component analysis method,and empirically-tests the relationship between urban environmental quality and corporate innovation,as well as the mechanisms of human capital and investment of innovation capital.The moderating effect of industry type and level of risk taking on the relationship between them is considered.The conclusions are as follows:(1)Urban environmental quality promotes corporate innovation.In addition,the results of the empirical analysis of the three sub-indicators show that environmental pollution is not conducive to corporate innovation,and the level of environmental governance and greening can significantly positively affect corporate innovation;(2)Urban environmental quality can indirectly affect corporate innovation through human capital and innovation capital investment;(3)For enterprises in non-polluting industries and enterprises with low risk taking level,urban environmental quality has a more significant impact on corporate innovation.The marginal contribution of this paper is reflected in the following aspects:it evaluates the impact of urban environmental quality on corporate innovation,and clarifies the path and boundary of the impact,so as to expand the research on the influencing factors of corporate innovation and the economic consequences of urban environmental quality.It is manifested in the following three aspects:(1)The comprehensive evaluation index of urban environmental quality is constructed to analyze the impact of urban environmental quality on corporate innovation,and the research perspective is relatively novel;(2)Clarify the impact paths of urban environmental quality on corporate innovation from human capital and investment of innovation capital,and enrich the research on the impact paths of urban environmental quality on corporate innovation;(3)Clarify the boundaries of the impact of urban environmental quality on corporate innovation from the aspects of industry type and enterprise risk taking level,and enrich the literature on the heterogeneous impact of urban environmental quality.The findings of this paper also have important reference significance for government managers and corporate managers:(1)Government managers and corporate managers should strengthen communication and collaboration to jointly promote the improvement of urban environmental quality and corporate innovation and development.(2)Corporate managers should also strengthen the management of enterprise risk taking level and improve enterprise risk taking ability,so as to better curb the negative impact of urban environmental quality on corporate innovation,in order to promote the improvement of corporate innovation level.