The impact of green finance and local regulations on industrial green innovation efficiency in China

被引：9
作者：
Xia, YiHan [1 ]
Luo, LuYi [2 ]
Ji, KaiWen [3 ]
Huang, Chao [1 ]
Wan, Fei [4 ]
Wang, ZhiGang [5 ]
机构：
[1] Jiangxi Normal Univ, Management Sci & Engn Res Ctr, Nanchang 330022, Jiangxi, Peoples R China
[2] Jiangxi Univ Finance & Econ, Sch Econ, Nanchang 330013, Jiangxi, Peoples R China
[3] Jiangxi Normal Univ, Sch Polit Sci & Law, Nanchang 330022, Jiangxi, Peoples R China
[4] China Galaxy Secur Co Ltd, Shanghai Branch, Shanghai 200129, Peoples R China
[5] Jiangxi Jiangtou Capital Holding Co Ltd, Nanchang 330000, Jiangxi, Peoples R China
来源：
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH | 2023年 / 31卷 / 02期
关键词：
Green finance; Green technology innovation; Environmental regulation; Moderation effect;
D O I：
10.1007/s11356-023-31314-w
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
When the incentive mechanism of green finance fails to fully promote green technology innovation in industrial enterprises, local government environmental regulations become an important tool in correcting this market failure. However, due to the "follow the cost" hypothesis, the moderating effect of the local government environmental regulation is heterogeneous. In order to explore the impact mechanism of green finance development on the efficiency of green technology innovation in industrial enterprises, spatial effects as well as the heterogeneous moderating effect of local government environmental regulation, this paper systematically evaluates the development level of green finance in 30 provinces in China from 2009 to 2019. It estimates the efficiency of green technology innovation in industrial enterprises using the super-efficiency SBM model, and empirically analyzes the impact mechanism and moderating effect using the spatial Durbin model. The results show that: (1) green finance not only positively impacts the efficiency improvement of green technology innovation in industrial enterprises but also has significant spatial spillover effects; (2) local government environmental regulation has a nonlinear "inverted U-shaped" moderating effect between the green finance development and the efficiency of green technology innovation in industrial enterprises. Based on the research conclusions, this paper proposes policy recommendations from the perspectives of deepening the regional connectivity of green finance and promoting joint regulation by local governments.
引用
收藏
页码：1980 / 1994
页数：15
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