Environmental Regulation,Green M&A and Green Innovation
Under the trend of green development of enterprises,environmental regulation has become an important external factor affecting green M&A and green innovation of enterprises.The findings are as follows:first,both formal and informal environmental regulations can promote green M&A,but their mechanisms are different.Secondly,the impact of environmental regulations on enterprises'green innovation can be divided into three types:promotion,inhibition and conditionality.The influence of different environmental regulation means and intensity on green innovation is also heterogeneous.Third,green M&A can promote green innovation,but there is still controversy over whether environmental regulation can promote green innovation through green M&A,which needs to be combined with the motivation behind green M&A for in-depth analysis.