Research on the Impact of Heterogeneous Environmental Regulation on Corporate Green Innovation——Empirical evidence from listed companies in heavily polluting industries
Taking the heavy polluters listed in China·s Shanghai and Shenzhen A-shares from 2013 to 2020 as the research ob-ject,the study empirically examine the relationship among heterogeneous environmental regulation,financing constraints and corporate green innovation.It is found that command-and-control and market incentive environmental regulations can significantly promote corpo-rate green innovation,and financing constraints play a significant partial mediating role in the relationship between environmental regu-lations and corporate green innovation.In addition,in both state-owned enterprises and non-state-owned enterprises,environmental regulation can promote corporate green innovation,and financing constraints play a significant mediating role;in the eastern region,the enhancement of environmental regulation can promote corporate green innovation by reducing the degree of corporate financing con-straints,while in the central and western regions,although environmental regulation can promote corporate green innovation,the medi-ating effect of financing constraints is not significant.
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