New environmental protection law, polluting enterprises and corporate green technological innovation

Sicong Yan, Yang Lv, Chaoqi Chen and Jingtian Hua

Finance Research Letters, 2025, vol. 77, issue C

Abstract: This paper takes the enactment of the New Environmental Protection Law as an entry point and uses A-share listed companies on the Shanghai and Shenzhen stock exchanges in China from 2012 to 2022 as a sample. It employs the Difference-in-Differences (DID) method to study the impact of quantitative environmental regulations on corporate green innovation. The research finds that the New Environmental Protection Law is conducive to promoting corporate green innovation; R&D investment plays a significant mediating role in the impact of the New Environmental Protection Law on corporate green innovation; and political connections positively regulate the promoting relationship between the enactment of the New Environmental Protection Law and green innovation among heavily polluting enterprises.

Keywords: Environmental regulation; New environmental protection law; Political connections; Green innovation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:77:y:2025:i:c:s1544612325002727

DOI: 10.1016/j.frl.2025.107008

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