摘要
推进环境保护和绿色发展对实现高质量发展至关重要。强制性环境信息披露作为激励企业环境保护的规制政策之一,其对促进企业绿色技术创新,进而实现绿色发展具有决定性作用。本文基于2010-2023年我国A股上市公司的观测样本,通过构建双重差分模型系统考察强制性环境信息披露政策对企业绿色技术创新的影响及作用机理。研究发现:强制性环境信息披露显著提升了企业实用类绿色技术创新和发明类绿色技术创新,且随着环境信息披露质量的提高,这一促进作用更为明显;企业财务表现中的融资成本是强制性环境信息披露影响企业绿色创新的重要途径;强制性环境信息披露对企业绿色技术创新的提升作用在成长期企业、成熟期企业以及大规模企业中更为显著。因此,政府应该更加重视完善企业信息披露的制度建设,在积极发挥公众监督作用的同时,还要注意政策的精准定位。
Promoting environmental protection and green development is essential for achieving high-quality development.Mandatory environmental information disclosure,as a regulatory policy to incentivize corporate environmental protection,plays a decisive role in fostering corporate green technological innovation and advancing green development.Based on observational data from A-share listed companies in China from 2010 to 2023,this study constructs a difference-in-differences(DID)model to systematically examine the impact of mandatory environmental information disclosure policies on corporate green technological innovation and their underlying mechanisms.The study finds that mandatory environmental information disclosure significantly enhances both utility-oriented and invention-oriented green technological innovations,with a more pronounced effect as the quality of environmental information disclosure improves.Mechanism tests indicate that the cost of financing,as part of corporate financial performance,is a key pathway through which mandatory environmental information disclosure influences green innovation.Heterogeneity tests show that the positive impact of mandatory environmental information disclosure on green technological innovation is more significant for growth-stage,mature-stage,and large-scale enterprises.Therefore,the government should place greater emphasis on improving the institutional framework for corporate information disclosure.While actively leveraging public oversight,attention should also be paid to the precise targeting of policies.
作者
熊俊
孙新章
XIONG Jun;SUN Xinzhang
出处
《价格理论与实践》
北大核心
2024年第12期178-183,231,共7页
Price:Theory & Practice
基金
江苏省教育科学“十四五”规划2021年度项目一般课题(课题编号:D/2021/03/08)
关键词
绿色发展
强制性环境信息披露
绿色技术创新
green development
mandatory environmental information disclosure
green technological innovation
