Environmental enforcement actions and corporate green innovation
研究美国环保署执法对企业绿色创新的影响，发现受执法企业绿色专利数量和引用显著增加，源于创新效率提升和绿色发明人招聘增加，且绿色创新有助于企业避免未来执法并减少有毒化学排放。
This study explores the influence of U.S. Environmental Protection Agency (EPA) enforcement on corporate green innovation, as measured by green patent counts and citations. Our findings show that EPA-enforced firms experience a substantial uptick in green innovation outputs. This boost can be attributed to enhanced green innovation efficiency and increased hiring of green inventors. Moreover, this effect is more pronounced for firms headquartered in states with stronger environmental enforcement intensity, firms with higher institutional ownership, and firms with fewer financial constraints. Finally, we find that green innovations help enforced firms avoid future EPA enforcements and reduce toxic chemical releases. Taken together, these results imply that EPA enforcement actions can indeed foster positive impacts on corporate green innovation.