Does the Environmental Regulation Intensity and ESG Performance Have a Substitution Effect on the Impact of Enterprise Green Innovation
Evidence from China
Bibliographic Data
| ID | 15466568 |
|---|---|
| Authors | Fengyan Wang (0000-0002-2167-6830, China University of Mining and Technology), Ziyuan Sun (0000-0003-3669-0341, China University of Mining and Technology, corresponding author) |
| Year | 2022 |
| Volume | 19 |
| Issue | 14 |
| Pages | 8558-8558 |
| Publication date | 2022-07-13 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Journal of Environmental Research and Public Health (JOURNAL) |
| Journal identifiers | ISSN: 1661-7827 • E-ISSN: 1660-4601 |
| Publisher | Multidisciplinary Digital Publishing Institute (PUBLISHER • CH) |
| DOI | 10.3390/ijerph19148558 |
| PMID | 35886408 |
| OpenAlex | W4285495792 |
| Language | EN |
| Citations received | 13 |
| References cited | 13 |
Against the background of green and sustainable development strategy, it is an effective way to carry out green innovation to cope with the increasing intensity of government environmental regulation for enterprises. Nevertheless, the regulatory role of ESG performance has been ignored. Based on panel data from Chinese listed companies from 2010 to 2019, this paper mainly studies whether the environmental regulation intensity and ESG performance have a substitution effect on the impact of green innovation by constructing a double fixed effect model. The empirical results showed that first, positive ESG performance is conducive to promoting green innovation. Second, there is a U-shaped relationship between the intensity of environmental regulation and high-quality green innovation, which reflects the effect of "offset before compensation". With the increasing intensity of environmental regulation, high-quality green innovation tends to crowd out low-quality green innovation, which further improves the practical test of the "Porter Hypothesis". Third, the positive ESG performance showed a negative regulatory effect between environmental regulation intensity and enterprise green innovation, which means that environmental regulation intensity and ESG performance have a substitution effect, and the effect is heterogeneous in different enterprises. This paper makes a beneficial exploration on how environmental regulation intensity and ESG performance affect enterprise green innovation, and demonstrates the regulatory role of ESG performance between environmental regulation intensity and green innovation, which reveals the impact of macro environmental policies on the green innovation behavior of micro subjects, and contributes to the further improvement of ESG concept and green innovation theory
Business · China · Economics · Empirical research · Environmental economics · Environmental quality · Environmental regulation · Fixed effects model · Green development · Green innovation · Industrial organization · Management · Microeconomics · Natural resource economics · Panel data · Quality (philosophy · R&D intensity · Substitution effect · Sustainable development · Energy, Environment, Economic Growth · Environmental Sustainability in Business · Sustainable Supply Chain Management · Ecology
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| Unique citing works | 13 |
|---|---|
| Citations per year | 3,25 |
| Citation span | 2022 - 2026 (5) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 13 |