A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivity
Abstract Environmental regulations are important means to influence manufacturing enterprise green development. However, there are two completely different conclusions both in theoretical and in empirical research, namely the “Follow Cost” theory and the “Porter Hypothesis”. The nonlinear mechanism...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Nature Portfolio
2024-03-01
|
| Series: | Scientific Reports |
| Subjects: | |
| Online Access: | https://doi.org/10.1038/s41598-024-55970-1 |
| _version_ | 1797274978092056576 |
|---|---|
| author | Lu Liu Rong Ren Kaiyuan Cui Lei Song |
| author_facet | Lu Liu Rong Ren Kaiyuan Cui Lei Song |
| author_sort | Lu Liu |
| collection | DOAJ |
| description | Abstract Environmental regulations are important means to influence manufacturing enterprise green development. However, there are two completely different conclusions both in theoretical and in empirical research, namely the “Follow Cost” theory and the “Porter Hypothesis”. The nonlinear mechanism needs to be considered. Therefore, this study aims to explain the threshold impact of heterogeneous environmental regulations on enterprise green total factor productivity. Environmental regulations are divided into different sub-categories, then based on the panel data of 1220 Chinese manufacturing listed companies from 2011 to 2020, this paper uses threshold regression model to examine the impact of heterogeneous environmental regulations on Chinese manufacturing enterprise Green Total Factor Productivity. The empirical results show that: (1) Command-controlled, market-incentive and voluntary-agreement environmental regulation all have a significant nonlinear impact on enterprise Green Total Factor Productivity. (2) Enterprise R&D investment plays a threshold role in the impact. (3) There are industry and equity type differences in the impact process. This study focuses on the micro level of enterprises and tests the threshold mechanism, which make some theoretical complement to previous researches. The research results are not only beneficial for the government to propose appropriate environmental regulatory policies, but also for enterprises to achieve green growth through heterogeneous R&D investment. |
| first_indexed | 2024-03-07T15:06:48Z |
| format | Article |
| id | doaj.art-0392fa71190d4ab6a7f0b5bc8cce3526 |
| institution | Directory Open Access Journal |
| issn | 2045-2322 |
| language | English |
| last_indexed | 2024-03-07T15:06:48Z |
| publishDate | 2024-03-01 |
| publisher | Nature Portfolio |
| record_format | Article |
| series | Scientific Reports |
| spelling | doaj.art-0392fa71190d4ab6a7f0b5bc8cce35262024-03-05T18:51:09ZengNature PortfolioScientific Reports2045-23222024-03-0114111210.1038/s41598-024-55970-1A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivityLu Liu0Rong Ren1Kaiyuan Cui2Lei Song3School of International Trade and Economics, Shandong University of Finance and EconomicsSchool of Management, Shandong UniversitySchool of Economics and Management, Shandong Youth University of Political ScienceSchool of Economics, Ocean University of ChinaAbstract Environmental regulations are important means to influence manufacturing enterprise green development. However, there are two completely different conclusions both in theoretical and in empirical research, namely the “Follow Cost” theory and the “Porter Hypothesis”. The nonlinear mechanism needs to be considered. Therefore, this study aims to explain the threshold impact of heterogeneous environmental regulations on enterprise green total factor productivity. Environmental regulations are divided into different sub-categories, then based on the panel data of 1220 Chinese manufacturing listed companies from 2011 to 2020, this paper uses threshold regression model to examine the impact of heterogeneous environmental regulations on Chinese manufacturing enterprise Green Total Factor Productivity. The empirical results show that: (1) Command-controlled, market-incentive and voluntary-agreement environmental regulation all have a significant nonlinear impact on enterprise Green Total Factor Productivity. (2) Enterprise R&D investment plays a threshold role in the impact. (3) There are industry and equity type differences in the impact process. This study focuses on the micro level of enterprises and tests the threshold mechanism, which make some theoretical complement to previous researches. The research results are not only beneficial for the government to propose appropriate environmental regulatory policies, but also for enterprises to achieve green growth through heterogeneous R&D investment.https://doi.org/10.1038/s41598-024-55970-1Environmental regulationEnterprise green total factor productivityR&D investmentDigital levelPanel threshold model |
| spellingShingle | Lu Liu Rong Ren Kaiyuan Cui Lei Song A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivity Scientific Reports Environmental regulation Enterprise green total factor productivity R&D investment Digital level Panel threshold model |
| title | A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivity |
| title_full | A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivity |
| title_fullStr | A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivity |
| title_full_unstemmed | A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivity |
| title_short | A dynamic panel threshold model analysis on heterogeneous environmental regulation, R&D investment, and enterprise green total factor productivity |
| title_sort | dynamic panel threshold model analysis on heterogeneous environmental regulation r d investment and enterprise green total factor productivity |
| topic | Environmental regulation Enterprise green total factor productivity R&D investment Digital level Panel threshold model |
| url | https://doi.org/10.1038/s41598-024-55970-1 |
| work_keys_str_mv | AT luliu adynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity AT rongren adynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity AT kaiyuancui adynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity AT leisong adynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity AT luliu dynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity AT rongren dynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity AT kaiyuancui dynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity AT leisong dynamicpanelthresholdmodelanalysisonheterogeneousenvironmentalregulationrdinvestmentandenterprisegreentotalfactorproductivity |