Effects of Construction of Smart Cities on the Green Innovation of Enterprises:An Empirical Study Based on Quasi-Natural Experiments
Based on the annual panel data of A-share listed companies and prefecture-level cities from 2007 to 2020,this paper empirically tested the impact of smart city pilot policies on the corporate green innovation using the multi-period double difference method.The results are as follows.(1)The smart city pilot policy significantly im-proves the quantity of green innovation and the quality of green innovation of enterprises,and the conclusion is still established after a series of robustness tests such as PSM-DID and placebo tests.(2)Smart city pilot policies pro-mote the"incremental quality"of corporate green innovation by enhancing municipal financial support and easing corporate financing constraints.(3)Micro-level heterogeneity suggests that the"incremental and qualitative"effect of the smart city pilot policy on the green innovation is more pronounced in mature and non-seriously polluting en-terprises;macro-level suggests that the"incremental and qualitative"effect of the pilot policy on the green innova-tion is more pronounced in low-market and east-central region enterprises.
smart citiescorporate green innovationquantity of green innovationquality of green innova-tion
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