绿色金融、环境规制与策略性绿色创新  

Green Finance,Environmental Regulation,and Strategic Green Innovation

作　　者：刘静[1] LIU Jing(School of Management,Harbin Institute of Technology,Harbin 150001,China)

机构地区：[1]哈尔滨工业大学经济与管理学院,黑龙江哈尔滨150001

出　　处：《大连理工大学学报（社会科学版）》2024年第4期50-59,共10页Journal of Dalian University of Technology(Social Sciences)

基　　金：黑龙江省哲学社会科学研究规划项目“数字普惠金融、社会网络与中小企业绿色创新”(23GLC038)。

摘　　要：立足我国经济转型实践,对绿色金融政策作用于企业策略性绿色创新行为的影响进行实证检验。研究发现,企业存在利用绿色金融政策支持进行策略性绿色创新倾向,来自环境保护部门的重点监控等环境规制措施能够一定程度上抑制企业在绿色创新过程中的机会主义行为,促进绿色金融政策切实发挥积极作用。进一步研究发现,较高的市场化程度及更多资本市场关注,能够降低企业策略性绿色创新倾向;但激烈的市场竞争则可能形成短期压力,提高企业绿色创新活动中的机会主义行为倾向。经济后果检验发现,相比于具有长期价值的实质性绿色创新,策略性绿色创新对企业价值的积极影响不具有可持续性。Based on the practice of economic transition in China,this paper empirically studies the impact of green finance on firms’strategic green innovation.Empirical results show that firms tend to conduct strategic green innovation to gain the support of green finance policy.Environmental regulation,such as the pollution monitoring by the Ministry of Ecology and Environment can suppress the opportunistic behavior in green innovation activities to some degree,and play a positive role in implementing the green finance policy.Further analysis finds that higher marketization and more attention from the capital market can suppress the tendency of strategic green innovation as well,while the fierce market competition may form short-term pressure and aggravate the opportunistic behavior tendency in green innovation activities.Besides,economic consequences tests find that,compared to the substantive green innovation which can bring a long-term contribution to firm value,the positive impact of strategic green innovation on firm value is not sustainable.

关 键 词：绿色金融 策略性绿色创新 环境规制 经济后果 

分 类 号：F832.48[经济管理—金融学]