Direct and moderating effects of environmental regulation intensity on enterprise technological innovation: The case of China
Autoři:
Xiguang Cao aff001; Min Deng aff001; Fei Song aff002; Shihu Zhong aff003; Junhao Zhu aff001
Působiště autorů:
School of Urban and Regional Science, Institute of Finance and Economics Research, Shanghai University of Finance and Economics, Shanghai, China
aff001; School of Information Engineering, Jiangsu Open University, Nanjing, China
aff002; Department of Investment, School of Public Economics and Administration, Shanghai University of Finance and Economics, Shanghai, China
aff003
Vyšlo v časopise:
PLoS ONE 14(10)
Kategorie:
Research Article
prolekare.web.journal.doi_sk:
https://doi.org/10.1371/journal.pone.0223175
Souhrn
There is few significant attempt to integrate environmental regulation, government financial support, and corporate technological innovation in a methodological framework. Employing the data of the industrial enterprises with an annual turnover of over 20 million yuan from 30 Chinese provinces or municipalities between 2008 and 2016, this paper applies the fixed effect regression model to reveal the relationships between environmental regulation, government financial support, and corporate technological innovation simultaneously. Results show that: (1) there exists a U-shaped relation between environmental regulation intensity and technological innovation of enterprises which declines first and then climbs up, and China is still at the stage of inhibition before the “inflection point”. (2) government financial support does not significantly work on technological innovation directly, but environmental regulation drives this effect to be achieved; when the value of lnER is higher than 3.69, government financial support can significantly facilitate corporate technological innovation. (3) the comparison between regional samples reveals that heterogeneity exists in the influence of environmental regulation intensity and government financial support on corporate technological innovation. The threshold value of enabling effects of environmental regulation in eastern region is higher than that of the central and western region. These results remain consistent after we experiment several robustness checks. Theory and policy implications of our work are discussed.
Klíčová slova:
Finance – Pollution – Economic analysis – China – Human capital – Economic development – Environmental regulations – Environmental protection
Zdroje
1. Gollop F. M., & Roberts M. J. (1983). Environmental regulations and productivity growth: The case of fossil-fueled electric power generation. Journal of Political Economy, 91(4), 654–674.
2. Jorgenson D. W., & Wilcoxen P. J. (1990). Environmental regulation and US economic growth. The Rand Journal of Economics, 314–340.
3. Jia P., Li K., & Shao S. (2018). Choice of technological change for China's low-carbon development: Evidence from three urban agglomerations. Journal of Environmental Management, 206, 1308–1319. doi: 10.1016/j.jenvman.2017.08.052 28886880
4. Peng B., Tu Y., Elahi E., & Wei G. (2018). Extended Producer Responsibility and corporate performance: Effects of environmental regulation and environmental strategy. Journal of Environmental Management, 218, 181–189. doi: 10.1016/j.jenvman.2018.04.068 29679824
5. Acemoglu D., Aghion P., Bursztyn L., & Hemous D. (2012). The environment and directed technical change. American Economic Review, 102(1), 131–66. doi: 10.1257/aer.102.1.131 26719595
6. Aghion P., Dechezleprêtre A., Hemous D., Martin R., & Van Reenen J. (2016). Carbon taxes, path dependency, and directed technical change: Evidence from the auto industry. Journal of Political Economy, 124(1), 1–51.
7. Tang J., Zhong S., & Xiang G. (2019). Environmental Regulation, Directed Technical Change, and Economic Growth: Theoretic Model and Evidence from China. International Regional Science Review, 0160017619835901.
8. Gray W. B. 1987. The cost of regulation: OSHA, EPA and the productivity slowdown. The American Economic Review, 77(5), 998–1006.
9. Jaffe A. B., Peterson S. R., Portney P. R., & Stavins R. N. (1995). Environmental regulation and the competitiveness of US manufacturing: what does the evidence tell us?. Journal of Economic literature, 33(1), 132–163.
10. Porter M. E. (1991). America’s green strategy, Scientific American, April. p. 96.
11. Porter M. E., & Van der Linde C. (1995). Toward a new conception of the environment-competitiveness relationship. Journal of Economic Perspectives, 9(4), 97–118.
12. Tsai W. H., Lin S. J., Liu J. Y., Lin W. R., & Lee K. C. (2011). Incorporating life cycle assessments into building project decision-making: an energy consumption and co emission perspective. Energy, 36(5), 3022–3029.
13. Tsai W. H., Lee K. C., & Liu J. Y., et al. (2012). A mixed activity-based costing decision model for green airline fleet planning under the constraints of the european union emissions trading scheme. Energy, 39(1), 218–226.
14. Geels F. W. (2002). Technological transitions as evolutionary reconfiguration processes: a multi-level perspective and a case-study. Research policy, 31(8–9), 1257–1274.
15. Doloreux D. (2002). What we should know about regional systems of innovation. Technology in society, 24(3), 243–263.
16. Magat W. A. 1978. Pollution control and technological advance: A dynamic model of the firm. Journal of Environmental Economics and Management, 5(1), 1–25.
17. Palmer K., Oates W. E., & Portney P. R. 1995. Tightening environmental standards: the benefit-cost or the no-cost paradigm?. Journal of Economic Perspectives, 9(4), 119–132.
18. Brännlund R., Färe R., & Grosskopf S. 1995. Environmental regulation and profitability: an application to Swedish pulp and paper mills. Environmental and Resource Economics, 6(1), 23–36.
19. Barbera A. J., & McConnell V. D. 1990. The impact of environmental regulations on industry productivity: direct and indirect effects. Journal of Environmental Economics and Management, 18(1), 50–65.
20. Jaffe A. B., & Palmer K. (1997). Environmental regulation and innovation: a panel data study. Review of Economics and Statistics, 79(4), 610–619.
21. Berman E., & Bui L. T. (2001). Environmental regulation and productivity: evidence from oil refineries. Review of Economics and Statistics, 83(3), 498–510.
22. Hamamoto M. (2006). Environmental regulation and the productivity of Japanese manufacturing industries. Resource and Energy Economics, 28(4), 299–312.
23. Dinda S. (2004). Environmental Kuznets curve hypothesis: a survey. Ecological Economics, 49(4), 431–455.
24. Yin J., Zheng M., & Chen J. (2015). The effects of environmental regulation and technical progress on CO2 Kuznets curve: An evidence from China. Energy Policy, 77, 97–108.
25. Yu F., Guo Y., Le-Nguyen K., Barnes S. J., & Zhang W. (2016). The impact of government subsidies and enterprises’ R&D investment: A panel data study from renewable energy in China. Energy Policy, 89, 106–113.
26. Yang L. G., Gong S. H., Wang B., Chao Z. S. 2018. Human Capital, Technology Progress and Manufacturing Upgrading. China Soft Science, 1, 138–148
27. Clausen T. H. (2009). Do subsidies have positive impacts on R&D and innovation activities at the firm level?. Structural Change and Economic Dynamics, 20(4), 239–253.
28. Bronzini R., & Piselli P. (2016). The impact of R&D subsidies on firm innovation. Research Policy, 45(2), 442–457.
29. Czarnitzki D., & Lopes-Bento C. (2014). Innovation subsidies: Does the funding source matter for innovation intensity and performance? Empirical evidence from Germany. Industry and Innovation, 21(5), 380–409.
30. Broekel T., Brachert M., Duschl M., & Brenner T. (2017). Joint R&D subsidies, related variety, and regional innovation. International Regional Science Review, 40(3), 297–326.
31. Wallsten S. J. (2000). The effects of government-industry R&D programs on private R&D: the case of the Small Business Innovation Research program. The RAND Journal of Economics, 82–100.
32. Görg H., & Strobl E. (2007). The effect of R&D subsidies on private R&D. Economica, 74(294), 215–234.
33. Li W., Gu Y., Liu F., & Li C. (2018). The effect of command-and-control regulation on environmental technological innovation in china: a spatial econometric approach. Environmental Science and Pollution Research, (5), 1–12.
34. Zhang J., Geng H., Xu G., et al. Research on the influence of environmental regulation on green technology innovation. China population, resources and environment, 2019, 29(1), 168–176. (In Chinese)
35. Guo J. (2019). The Effects of Environmental Regulation on Green Technology Innovation——Evidence of the Porter Effect in China. Finance & Trade Economics, (3), 147–160. (In Chinese)
36. Féres J., & Reynaud A. (2012). Assessing the impact of formal and informal regulations on environmental and economic performance of Brazilian manufacturing firms. Environmental and Resource Economics, 52(1), 65–85.
37. Van Rooij B., Fryxell G. E., Lo C. W. H., & Wang W. (2013). From support to pressure: The dynamics of social and governmental influences on environmental law enforcement in Guangzhou City, China. Regulation & Governance, 7(3), 321–347.
38. Zhao X., & Sun B. (2015). The influence of chinese environmental regulation on corporation innovation and competitiveness. Journal of Cleaner Production, 112(4), 1528–1536.
39. Guo L. L., Qu Y., & Tseng M. L. (2017). The interaction effects of environmental regulation and technological innovation on regional green growth performance. Journal of cleaner production, 162, 894–902.
40. Greve H. R. (2003). A behavioral theory of R&D expenditures and innovations: Evidence from shipbuilding. Academy of management journal, 46(6), 685–702.
41. Gemünden H. G., Heydebreck P., & Herden R. (1992). Technological interweavement: a means of achieving innovation success. R&D Management, 22(4), 359–376.
42. Triebswetter U., & Hitchens D. (2005). The impact of environmental regulation on competitiveness in the German manufacturing industry—a comparison with other countries of the European Union. Journal of Cleaner Production, 13(7), 733–745.
43. Zhou Y., Zhu S., & He C. (2017). How do environmental regulations affect industrial dynamics? Evidence from China’s pollution-intensive industries. Habitat International, 60, 10–18.
44. Levinson A. (1996). Environmental regulations and manufacturers' location choices: Evidence from the Census of Manufactures. Journal of Public Economics, 62(1–2), 5–29.
45. Wang H. (2002). Pollution regulation and abatement efforts: evidence from China. Ecological Economics, 41(1), 85–94.
46. Guellec D., & Van Pottelsberghe de la Potterie B. (1997). Does government support stimulate private R&D?. OECD economic studies, 95–122.
47. Guo D., Guo Y., & Jiang K. (2016). Government-subsidized R&D and firm innovation: Evidence from China. Research policy, 45(6), 1129–1144.
48. Jones C. I. (2003). Human capital, ideas and economic growth. In Finance, Research, Education and Growth (pp. 51–74). Palgrave Macmillan, London.
49. Chen B., & Feng Y. (2000). Determinants of economic growth in China: Private enterprise, education, and openness. China Economic Review, 11(1), 1–15.
50. Malesky E. J. (2008). Straight ahead on red: how foreign direct investment empowers subnational leaders. The Journal of Politics, 70(1), 97–119.
51. Yong J. Y., Yusliza M-Y., Ramayah T., & Fawehinmi O. (2019). Nexus between green intellectual capital and green human resource management, Journal of Cleaner Production, 215, 364–374.
52. Yong J. Y., Yusliza M-Y., Ramayah T., Jabbour C. J. C., Sehnem S. & Venkatesh M. (2019). Pathways towards Sustainability in Manufacturing Organizations: Empirical Evidence on the Role of Green Human Resource Management. Business Strategy and The Environment. Forthcoming.
Článok vyšiel v časopise
PLOS One
2019 Číslo 10
- Metamizol jako analgetikum první volby: kdy, pro koho, jak a proč?
- Nejasný stín na plicích – kazuistika
- Masturbační chování žen v ČR − dotazníková studie
- Těžké menstruační krvácení může značit poruchu krevní srážlivosti. Jaký management vyšetření a léčby je v takovém případě vhodný?
- Fixní kombinace paracetamol/kodein nabízí synergické analgetické účinky
Najčítanejšie v tomto čísle
- Correction: Low dose naltrexone: Effects on medication in rheumatoid and seropositive arthritis. A nationwide register-based controlled quasi-experimental before-after study
- Combining CDK4/6 inhibitors ribociclib and palbociclib with cytotoxic agents does not enhance cytotoxicity
- Experimentally validated simulation of coronary stents considering different dogboning ratios and asymmetric stent positioning
- Risk factors associated with IgA vasculitis with nephritis (Henoch–Schönlein purpura nephritis) progressing to unfavorable outcomes: A meta-analysis