Can Environmental Regulation Really Improve Corporate Performance in the Textile Industry?—Evidence from A-share Listed Companies in the Textile Industry
Based on the panel data of Shanghai and Shenzhen A-share listed companies in the textile industry from 2016 to 2020,this paper constructs an intermediary effect model for fixed effect regression analysis,studies the impact mechanism of environmental regulation on enterprise performance,and tests whether technological innovation has an intermediary effect between environmental regulation and enterprise performance.The results show that there is a significant positive correlation between environmental regulation and corporate performance.The mediating effect of technological innovation on environmental regulation and firm performance is not valid.The impact of environmental regulation on the performance of enterprises in the textile industry is different.Environmental regulation has a significant positive impact on the performance of small enterprises in the textile industry,enterprises in the eastern region,and enterprises in the textile and clothing industry.However,it has no significant impact on the performance of large enterprises in textile industry,enterprises in central and western regions,textile industry,leather,fur,feathers and their products and manufacturing enterprises.The research conclusions and policy suggestions have certain reference value for enriching and improving the environmental regulation policies of textile enterprises.
environmental regulationenterprise performancetechnological innovationtextile industry
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