2023年2月，公司教师黄晓琪博士为第一作者的合作论文《Quantity or quality: Environmental legislation and corporate green innovations》在期刊《Ecological Economics》第204卷正式刊出。
论文简介
Firms investing in environmental issues often suffer from increased operating costs and reduced profits. Therefore, rigorous environmental legislation is required to motivate firms to conduct more green innovations. This paper takes the promulgation of China’s New Environmental Protection Law as an ideal quasi-natural experiment to investigate the effect of rigorous environmental legislation on corporate green innovations. By reconsolidating the “compensation effect” and the “crowding-out effect”, we find that China’s New Environmental Protection Law promotes the quantity of corporate green innovations, but inhibits the quality of green innovations. The potential mechanisms regarding green innovation quantity and quality are strikingly different. China’s New Environmental Protection Law promotes green innovation quantity mainly through alleviating government favoritisms and increasing the risk of environmental litigations. However, since high-quality innovations require higher investment costs and greater tolerance for failure, China’s New Environmental Protection Law also tightens financing constraints and exacerbates managerial myopia, which crowds out high-quality green innovations. Moreover, China’s New Environmental Protection Law causes short-term corporate performance losses, but it indeed promotes environmental performances. Our results are crucial to comprehensively understand the effectiveness of environmental legislation and provide policy inspirations for the government concerning the environment.
作者简介
黄晓琪，1993年4月生，女，安徽安庆人，永利yl23411集团讲师，主要研究方向为绿色金融、创新经济学等。在《金融研究》、《China Economic Review》、《Ecological Economics》、《International Review of Financial Analysis》、《国际贸易问题》等国内外学术期刊上发表论文10余篇。当前担任《世界经济》、《China Economic Review》、《International Review of Financial Analysis》等期刊匿名审稿人，主持中央高校基本业务费资助项目1项，并参与多项国家社科基金和国家自科基金重大项目和一般项目。
期刊简介
Ecological Economics，国际生态经济权威期刊，资源环境领域五大刊之一； SSCI-Q1，ABS三星级期刊，FMS管理科学高质量A类期刊，旨在发表生态系统和人类活动关系的高质量论文。
