Does the State Capital Injection Promote the Emission Reduction in Private Enterprise?
State capital is an important engine to promote the green transformation of econ-omy.The state capital injection can effectively regulate the pollution emission behavior of private enterprises,break the shackles of innovation,which is significant for realizing the"double carbon goal"and the Chinese path to modernization.This paper discusses the impact of state capital injection on the pollution emission of private enterprises.The study finds that the state capital injection can effectively reduce the pollution emission of private enterprises,which is more obvious in the high fiscal decentralization,non-strategic indus-tries and large-scale enterprises.Further,the mechanism shows that state capital injection can improve technological innovation by alleviating financing constraint and improving risk-taking,and enhance social responsibility with integrating the policy social goals undertaken by state capital,then under the joint of"technological innovation effect"and"social re-sponsibility effect"to achieve emission reduction.Particularly,although state capital injec-tion cannot promote the productivity,"technological innovation effect"is the key to achieve both efficiency improvement and environment improvement.This paper provides a new perspective and impetus for improving the incentive mechanism of enterprise innova-tion,optimizing environmental governance and realizing the green transformation of the economy.
State Capital InjectionPrivate EnterpriseEmission ReductionTechnology InnovationSocial Responsibility
万方数据
维普
