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With the deterioration of China's ecological environment, technological innovation (TI) has become an important method of green transformation and upgrading Chinese steel enterprises (CSEs) under the constraint of environmental regulation (ER). Based on environmental protection panel data of 86 CSEs from 2005 to 2014, this paper first analyzes the direct effects of heterogeneous environmental regulation (HER) on TI and then studies the indirect effects of HER on TI through factors such as enterprise size, human capital, enterprise profit margin and executive environmental awareness. Based on a high-dimensional fixed effects model, the results show that (1) command-control environmental regulation (CCER) and voluntary environmental regulation (VER) have direct and positive effects on the TI of CSEs, while market-incentive environmental regulation (MIER) does not; and (2) the indirect effect of human capital is positively regulated by CCER and VER and that of enterprise size is negatively regulated by MIER, while all of the types of HER regulate the negative indirect effect of profit margin and the positive indirect effect of executive environmental awareness. It is necessary that combined and unified policy tools be implemented in the iron and steel industry (ISI) nationwide to coordinate the effects of HER. • This paper analyzed the dual effect of HER on TI of 86 CSEs with a high-dimensional fixed effects model. • Only CCER had the direct and positive effect on TI, whileMIER did not. • CCER had the indirect effect on TI through human capital, enterprise profits, and executive environmental awareness. • MIER had the indirect effect on TI through enterprise size, enterprise profits, and executive environmental awareness. • The robustness test by SYS-GMM verified the above results. [ABSTRACT FROM AUTHOR]

Although green growth has become the economic development strategy of many countries in the world, and studies have analyzed the influencing factors of green growth from multiple angles, there are few literatures devoted to the impact of fintech and green finance on green growth. From the perspective of fintech development, this paper tries to construct a comprehensive index to evaluate the green growth of regional economy based on the in-depth analysis of the influence mechanism of green finance on green growth. At the same time, China's provincial panel data from 2011 to 2018 are selected to test the impact of fintech innovation and green finance on green growth, and its mechanism. It turns out that fintech and green finance significantly promotes green economic growth. At the same time, the impact of fintech and green finance on green growth has obvious regional heterogeneity, that is, the impact in eastern China is significantly stronger than that in central and western China. Further research shows that fintech innovation mainly promotes green economic growth through green credit and green investment. Therefore, fintech innovation can promote green economic growth by improving the development level of green finance, which has great reference significance for most countries. [ABSTRACT FROM AUTHOR]