Environmental Information Disclosure Policy and Corporate Green Innovation
This paper evaluates the impact of environmental information disclosure policies on enterprises'green innovation ability by using the Differences-in-Differences method with the"Guidelines on Environmental Information Disclosure for Listed Companies"issued in 2010 as an exogenous impact.In contrast to the previous literature that de-bate on whether the environmental information disclosure polices promote or hinder the green innovation,this paper also focuses on the impact of environmental information disclosure policies on the quality and efficiency of green innovation.The study finds that:1)Environmental information disclosure policies significantly crowd out the green innovation of en-terprises,and the crowding out path is the reduction of enterprises'human capital investment and environmental protec-tion subsidies;2)The crowding out effect is more obvious for companies which are located in regions with more strin-gent legal environment,higher degree of public concern,and faster information dissemination;3)The pressure of envi-ronmental information disclosure squeezes out the green innovation bubble of enterprises,and improves the efficiency and quality of green innovation instead.The research conclusions provide evidence that environmental information disclosure policies promote the high-quality development of enterprises and provide useful references for environmental regulation practice.
disclosure of environmental informationgreen innovationinnovation qualityinnovation efficiency
万方数据
维普
