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- Title
Environmental Regulation and Sustainable Growth of Enterprise Value: Mediating Effect Analysis Based on Technological Innovation.
- Authors
Qian, Jingjing; Chen, Chao; Zhong, Yun
- Abstract
This research aims to analyze the nonlinear relationship among environmental regulation, technology innovation and enterprise value and provide a micro level of enterprise view on environmental regulation. Taking 1714 A-share listed companies in China's manufacturing industry from 2017 to 2020, a panel regression model was conducted to explore how environmental regulation influences enterprise value. The empirical research results show that: (1) the total effect of environmental regulation on enterprise value is U-shaped and that the technological innovation of enterprises has a partial intermediary effect between environmental regulation and enterprise value; (2) financial flexibility can significantly mitigate the impact of environmental regulations on enterprise value. This study provides a micro-level view of the influencing effect of environmental regulation on enterprise value.
- Subjects
CHINA; ENTERPRISE value; TECHNOLOGICAL innovations; ENVIRONMENTAL regulations; REGULATION of growth; BUSINESS enterprises; REGRESSION analysis
- Publication
Sustainability (2071-1050), 2022, Vol 14, Issue 21, p13723
- ISSN
2071-1050
- Publication type
Article
- DOI
10.3390/su142113723