环境保护法规对企业研发投资的影响:来自中国的证据

IF 4.7 3区 环境科学与生态学 Q2 ENVIRONMENTAL SCIENCES Environment, Development and Sustainability Pub Date : 2024-09-11 DOI:10.1007/s10668-024-05396-6
Wenyu Li, Wei Shan, Junguang Gao
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引用次数: 0

摘要

在过去的 70 年里,中国经历了快速的经济增长和工业化,这为企业创造了大量机会,也改善了许多居民的生活质量。然而,工业化进程的加快也对环境造成了严重的负面影响。为了应对这一重大挑战,中华人民共和国环境保护部(MEP)在过去 20 年间在其监管框架中引入了多项《环境保护条例》(EPRs),以减少企业产生的污染物排放。本研究基于 2010 年至 2020 年中国制造业上市公司的面板数据,旨在评估 EPRs 对企业污染物排放以及由此产生的研发(R&D)投资的影响。此外,研究还探讨了研发投资在减少污染物排放方面的促进作用,为政府和政策制定者完善环境政策提供了重要启示。在此过程中,研究为当前文献做出了几项值得注意的贡献:首先,研究发现新颁布的环境政策显著降低了企业的污染物排放总量和单位产出。第二,引入新的排放政策后,研发投资大幅增加。第三,研究并未证实企业的研发投资在减少污染物排放方面发挥了重要的中介作用;这一结论得到了稳健性测试的支持。第四,研究发现,对于国有企业和经济发达地区的企业而言,EPRs 显著减少了污染物排放。然而,对于欠发达地区的企业和非国有企业来说,经济增长和减贫措施可能会减少它们的收入。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

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The impact of environmental protection regulations on firms’ R&D investment: evidence from China

China has experienced rapid economic growth and industrialization over the last 70 years, which has created significant opportunities for firms and improved the quality of life for many residents. However, this increased industrialization has also had a significant negative impact on the environment. To address this major challenge, the Ministry of Environmental Protection (MEP) of the People’s Republic of China has introduced several Environmental Protection Regulations (EPRs) into its regulatory framework during the last 2 decades in order to reduce the pollutant emissions generated by firms. Based on panel data from publicly listed firms in China’s manufacturing industry, spanning 2010 to 2020, this study aims to assess the impact of EPRs on firms’ pollutant emissions and resultant Research and Development (R&D) investment. In addition, the research examines the contributory role of R&D investment in the mitigation of pollutant emissions, providing important insights for governments and policy makers when seeking to refine environmental policies. In so doing, several noteworthy contributions are made to current literature: first, newly enacted EPRs are found to have markedly decreased both the aggregate and per-output pollutant emissions of firms. Second, there has been a significant upsurge in R&D investment prompted by the introduction of the new EPRs. Third, the study did not confirm a significant mediating role for firms’ R&D investments in reducing pollutant emissions; this conclusion was supported by robustness testing. Fourth, the EPRs were found to notably reduce pollutant emissions for state-owned firms and those in economically advanced regions. However, for firms in less developed regions and those not state-owned, EPRs could potentially reduce their revenues.

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来源期刊
Environment, Development and Sustainability
Environment, Development and Sustainability Economics, Econometrics and Finance-Economics and Econometrics
CiteScore
10.20
自引率
6.10%
发文量
754
期刊介绍: Environment, Development and Sustainability is an international and multidisciplinary journal covering all aspects of the environmental impacts of socio-economic development. It is also concerned with the complex interactions which occur between development and environment, and its purpose is to seek ways and means for achieving sustainability in all human activities aimed at such development. The subject matter of the journal includes the following and related issues: -mutual interactions among society, development and environment, and their implications for sustainable development -technical, economic, ethical and philosophical aspects of sustainable development -global sustainability - the obstacles and ways in which they could be overcome -local and regional sustainability initiatives, their practical implementation, and relevance for use in a wider context -development and application of indicators of sustainability -development, verification, implementation and monitoring of policies for sustainable development -sustainable use of land, water, energy and biological resources in development -impacts of agriculture and forestry activities on soil and aquatic ecosystems and biodiversity -effects of energy use and global climate change on development and sustainability -impacts of population growth and human activities on food and other essential resources for development -role of national and international agencies, and of international aid and trade arrangements in sustainable development -social and cultural contexts of sustainable development -role of education and public awareness in sustainable development -role of political and economic instruments in sustainable development -shortcomings of sustainable development and its alternatives.
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