Environmental Regulation,Soft Constraints of Environmental Regulation and Enterprise Competitiveness
This paper studies how environmental regulation affects the sustainable economic development through an angle of soft constrains of environmental regula-tion.We first develop a theoretical model,based on the threshold effect of innovation investment,to introduce the role of soft constrains of environmental regulation into the theoretical framework of Porter hypothesis,and analyze how the soft constraints of environmental regulation affect enterprise competitiveness.Using policy change of the SO2 emission charges from 2007 to 2014,we examine the Porter hypothesis by adopting a DID estimation.We find evidence that state owned enterprises have more significant soft constraint problems than non-state owned firms,which weaken incen-tives for innovation investment,and then hurt enterprise competitiveness.However,we find strong evidence of the existence of Porter hypothesis for no-state owned firms.
environmental regulationsoft constraint of environmental regulationthe Porter hypothesis
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