Environmental Responsibility Fulfillment,Green Technology Innovation and Financial Performance——Based on Panel Vector Autoregression Model
Based on the panel data of coal enterprises listed on the main boards of Shanghai and Shenzhen,a vector autoregressive model(PVAR)is constructed to explore the dynamic relationship among environmental responsibility fulfillment,green technology innovation and financial performance.The results show that both en-vironmental responsibility fulfillment and green technology innovation can effectively improve corporate financial performance.Among them,environmental responsibility fulfillment has a restraining effect on financial perform-ance in the short term and a promoting effect on financial performance in the long term.The impact of green technology innovation on financial performance has a certain lag;Financial performance can promote environmen-tal responsibility fulfillment and green technology innovation.Therefore,it is necessary to improve the under-standing of green technology innovation of coal enterprises,increase the support of green technology innovation of coal enterprises,and strengthen the supervision of the implementation of environmental responsibility of coal en-terprises.
environmental responsibility fulfillmentgreen technology innovationfinancial performancePVAR model
万方数据
