Information infrastructure , market-oriented environmental regulation and high-quality green innovation of enterprises

Volume 8, Issue 5, October 2023     |     PP. 189-221      |     PDF (1292 K)    |     Pub. Date: November 21, 2023
DOI: 10.54647/economics790424    61 Downloads     172339 Views  

Author(s)

Yude Xu, Chinese Academy Of Fiscal Sciences, China
Xuan Meng, Nanchang University, China
Jianmin Liu, Nanchang University, China

Abstract
We take China A-share listed companies from 2006 to 2020 as samples to empirically test the mechanism that information infrastructure and market-based environmental regulation affect high-quality green innovation of enterprises.We find that the information infrastructure significantly promotes high-quality green innovation of enterprises, and market-oriented environmental regulation positively moderates the relationship between them; The mechanism test shows that the increase of R&D funds and personnel in enterprises under market-oriented environmental regulation will stimulate high-quality green innovation; The heterogeneity test shows that the information infrastructure is more effective for the high-quality green innovation of enterprises in the eastern and central regions; Further analyses shows that the level of executive salary incentive and risk-taking can enhance high-quality green innovation of enterprises, and the complementary role of command-oriented environmental regulation to market-oriented environmental regulation is not statistically significant. Our findings provide theoretical basis for China to improve information infrastructure and market environment regulation to promote high-quality green innovation of enterprises.

Keywords
Information infrastructure; Green innovation; Market-oriented environmental regulation; Resource allocation

Cite this paper
Yude Xu, Xuan Meng, Jianmin Liu, Information infrastructure , market-oriented environmental regulation and high-quality green innovation of enterprises , SCIREA Journal of Economics. Volume 8, Issue 5, October 2023 | PP. 189-221. 10.54647/economics790424

References

[ 1 ] Almeida, P and Kogut, B. Localization of knowledge and the mobility of engineers in regional networks [J]. Management science, 1999, 45(7): 905-917.
[ 2 ] Bergek, A. ; Staffan Jacobsson; Björn A. Sandén. ‘Legitimation’ and ‘development of positive externalities’: two key processes in the formation phase of technological innovation systems [J]. Technology Analysis & Strategic Management,2008,20(5).
[ 3 ] Blackman, A.；Li, Z.Y. and Liu, A.A. Efficacy of Command-and-Control and Market-based Environmental Regulation in Developing Countries [J]. Annual Review of Resource Economics, 2018, 10(1): 381-404.
[ 4 ] Broekhuizen T L, Broekhuis M, Gusenberg M J, et al. Introduction to the special issue – Digital business models: A multi-disciplinary and multi-stakeholder perspective [J]. Journal of Business Research, 2021, 122: 847-852.
[ 5 ] Cai W.G, Guangpei Li . Research on Enterprise Ecological Innovation Strategy under the Framework of Carbon Trading [J]. Chinese Journal of Management Science, 2018, 26(12): 168-176. DOI:10.16381/j.cnki.issn1003-207x.2018.12.016.
[ 6 ] Datta, A and Agarwal, S. Telecommunications and economic growth：A panel data approach [J]. Applied Economics, 2004, 36(15): 1649-1654.
[ 7 ] Feng Y., Zhi Chen, Changfei Nie. The effect of broadband infrastructure construction on urban green innovation: Evidence from a quasi-natural experiment in China [J]. Economic Analysis and Policy,2023,77: 581-598.
[ 8 ] Han B.G., Pingfang Zhu . An Empirical Analysis of the Impact of Broadband on China's Economic Growth [J]. Statistical Research, 2014, 31(10): 49-54. DOI:10.19343/j.cnki.11-1302/c.2014.10.008.
[ 9 ] Hartley J L, Sawaya W J. Tortoise, not the hare: Digital transformation of supply chain business processes [J]. Business Horizons, 2019, 62(6): 707-15.
[ 10 ] Hendriks, P. Why Share Knowledge？The Influence of ICT on Motivation for Knowledge Sharing [J]. Knowledge and Process Management, 1999, 6(2): 91-100.
[ 11 ] Jaffe, A. B and Palme, K. Environmental Regulation and Innovation: A Panel Data Study [J]. Review of Economics and Statistics, 1997, 79( 4): 610-619.
[ 12 ] Jaffe, A.B.；Peterson, S.R.；Portney, P.R.and Stavins, R.N. Environmental Regulation and the Competiveness of U.S.Manufacturing：What Does the Evidence Tell Us [J]. Journal of Economic Literature, 1995, 33(1): 132-163.
[ 13 ] Kaufmann, A；Lehner, P and Todtling, F. Effects of the Internet on the spatial structure of innovation networks [J]. Information Economics and Policy, 2003, 15(3): 402-424.
[ 14 ] Kemp, R; Arundel, A. and Smith, K. Survey indicators for environmental innovation [J]. Conference Towards Environmental Innovation Systems, 2002(03): 46-62.
[ 15 ] Kim, J and Valentine, K. The innovation consequences of mandatory patent disclosures [J]. Journal of Accounting and Economics, 2021, 71: 101381.
[ 16 ] Koutroumpis, P. The economic impact of broadband：Evidence from OECD countries [J]. Technological Forecasting & Social Change, 2019, 148: 119719.
[ 17 ] Li K.W., Wenbo Shao, Yongjin Wang . Information Density, Information Infrastructure and Export Performance of Enterprises —— Theoretical and Empirical Analysis Based on Enterprise Heterogeneity [J]. Journal of Management World, 2015(04): 52-65. DOI:10.19744/j.cnki.11-1235/f.2015.04.006.
[ 18 ] Lin Z.F., Xiaoxuan Long. Whether the threat of short selling can inspire China enterprises to innovate? [J]. the Journal of World Economy, 2019, 42(09): 126-150. DOI:10.19985/j.cnki.cassjwe.2019.09.007.
[ 19 ] Long X.N.; Jun Wang. Motivation and Quality Effect of Patent Surge in China [J]. the Journal of World Economy, 2015, 38(06): 115-142. DOI:10.19985/j.cnki.cassjwe.2015.06.007.
[ 20 ] Markard, J.; Steffen Wirth,Bernhard Truffer. Institutional dynamics and technology legitimacy – A framework and a case study on biogas technology [J]. Research Policy,2016,45(1).
[ 21 ] Meyer J, Rowan B, Chirikov I S, et al. Institutionalized organizations: Formal structure as myth and ceremony [J]. Economic Sociology, 2011, 12(1): 43-67.
[ 22 ] Michael E. Porter and Claas van der Linde. Toward a New Conception of the Environment Competitiveness Relationship [J]. Journal of Economic Perspectives, 1995, 9(4), pp.97-118.
[ 23 ] Pan W.; Botang Han. Empirical Study on Economic Growth of Urban Agglomeration Based on Informatization [J].Science Research Management, 2018, 39(S1): 289-297. DOI:10.19571/j.cnki.1000-2995.2018.ZK.038.
[ 24 ] Röller, L and Waverman, L. Telecommunications infrastructure and economic development：A simultaneous approach [J]. American Economic Review, 2001, 91(4): 909-923.
[ 25 ] Sun Z.; Yuanhua Xu. Can the construction of information infrastructure improve the innovation efficiency of high-tech industries in China? —— Empirical analysis based on panel data of 17 high-tech industries from 2002 to 2013 [J].Nankai Economic Studies, 2018(02): 72-92. DOI:10.14116/j.nkes.2018.02.005.
[ 26 ] Tao F.; Jinyu Zhao; Hao Zhou. Has environmental regulation achieved the "incremental quality improvement" of green technological innovation? —— Evidence from the environmental target responsibility system [J].China Industrial Economics, 2021(02): 136-154. DOI:10.19581/j.cnki.ciejournal.2021.02.016.
[ 27 ] Wang B.B.; Shaozhou Qi. Technological Innovation Effects of Market-oriented and Command-oriented Policy Tools on Energy Saving and Emission Reduction —— An Empirical Study Based on the Patent Data of China Industry [J].China Industrial Economics, 2016(06): 91-108. DOI:10.19581/j.cnki.ciejournal.2016.06.008.
[ 28 ] Wang H.J.; Ran Zhang. Private Equity Investment and Executive Compensation Contract of Invested Enterprise —— Based on the Perspective of Corporate Governance [J].Journal of Management World, 2012(09): 156-167. DOI:10.19744/j.cnki.11-1235/f.2012.09.015.
[ 29 ] Wang X.; Yin Wang. Research on Green Credit Policy Promoting Green Innovation [J].Journal of Management World, 2021, 37(06): 173-188+11. DOI:10.19744/j.cnki.11-1235/f.2021.0085.
[ 30 ] Ward, R. M. and Zheng, L.S. Mobile and Fixed Substitution for Telephone Service in China [J]. Telecommunications Policy，2012，36(4) : 301-310.
[ 31 ] Xu J. Analysis on the Influence of Regional Informatization on Economic Growth [J].Statistical Research, 2010,27(05): 74-80. DOI:10.19343/j.cnki.11-1302/c.2010.05.012.
[ 32 ] Yang H.C.; Lianshui Li; Faming Yang. High-tech Industrial Agglomeration and Green Technology Innovation Performance [J]. Science Research Management, 2020, 41(09): 99-112. DOI:10.19571/j.cnki.1000-2995.2020.09.010.
[ 33 ] Zhang Y. S.. Informatization and Economic Growth in China: Theoretical and Empirical Analysis [J]. Research on Economics and Management, 2015, 36(04): 63-69. DOI:10.13502/j.cnki.issn1000-7636.2015.04.009.