Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1771745
Environmental regulation, innovation quality and firms’ competitivity-Quasi-natural experiment based on China’s carbon emissions trading pilot
Jiangfeng Hu
Qinghua Huang
Xiding Chen
Sažetak
In the study of the “Porter Hypothesis”, scholars explored the
impact of different forms of innovation on the firms’ competitivity,
but did not distinguish between innovations on the difference
in patent quality. In addition, relevant research only regards
innovation as a mediator between environmental regulation and
competitivity, and doesn’t take into account innovation induced
by environmental regulation, can only promote competitivity
under the constraints of environmental regulation. That is to say,
environmental regulation not only induces innovation, but also
moderates innovation to promote competitivity. In view of this,
we use panel data of A-share listed firms in China from 2006 to
2016, and adopt propensity score matching and different in different
(PSM-DID) model to empirically test the inductive effect and
moderating effect. The results show that CETS cannot only
improve the quantity and quality, but also significantly enhance
the firms’ market value; innovation itself cannot enhance the
firms’ market value, but the interaction with CETS can promote
the firms’ market value. In addition, the CETS has a stronger
inductive effect on innovation of state-owned shares firms, but
the positive moderating effect on high-quality innovation and
competitivity only exists in non-state-owned shares firms.
Ključne riječi
Carbon emissions trading system; innovation quality; moderating effect; market value; PSM-DID model
Hrčak ID:
254710
URI
Datum izdavanja:
9.2.2021.
Posjeta: 766 *