Can voluntary environmental regulation promote corporate technological innovation?
基于403家中国制造企业2010-2015年面板数据，发现自愿环境信息披露和环境管理体系认证均能正向影响企业创新投入，且两者存在正向交互作用，重污染行业效果更显著。
Abstract The impact of environmental regulation on technological innovation has been widely discussed in the academic circle. Based on the panel data of 403 Chinese manufacturing firms from 2010 to 2015, this paper explored the role of voluntary environmental regulation in technological innovation. The results showed the following: First, both voluntary environmental information disclosure and environmental management system certification had a positive effect on corporate innovation investment. Second, compared with the impact of environmental information disclosure, the impact of environmental management system certification on corporate innovation investment was more significant. Third, there was a significant positive interaction between environmental information disclosure and environmental management system certification. Finally, the effect of voluntary environmental regulation on corporate technological innovation in heavily polluting industries was stronger than that in lightly polluting industries.