Search

Stimulating enterprises to implement environmental management system certification (EMSC, that is to say ISO14001 certification) to the greatest extent and resolving their obstacles in time are the basis for promoting green development of enterprises. Using the full samples of Shanghai and Shenzhen A-share listed industrial enterprises from 2010 to 2019, and employing the Logit model and Propensity Score Matching method (PSM), this paper empirically analyzes the motivations and obstacles for Chinese enterprises to implement EMSC certification, further explores the transformation between advantages and disadvantages under certain conditions, and the differentiation characteristics among enterprises under different social responsibility, property rights and enterprise size. The results show that: ① There is a "U"-shaped relationship between corporate social responsibility and EMSC, and the social responsibility of non-state-owned enterprises could realize the transformation from obstacle to motivation earlier than that of state-owned enterprises. ② There is an inverted "U"-shaped relationship between environmental regulation and EMSC, precisely speaking, this inverted "U"-shaped relationship only exists in non-state-owned enterprises, large-scale enterprises and enterprises with high social responsibility. ③ The public environmental awareness could promote enterprises to implement EMSC, and would strengthen the impact of environmental regulations on enterprises' implementation of EMSC. ④ Based on Propensity Score Matching method, it is concluded that Chinese enterprises indeed improve their environmental performance rather than their financial performance by EMSC. The conclusions provide helpful practical guidance for comprehensively revealing the motivations and obstacles for China's enterprises to implement EMSC. [ABSTRACT FROM AUTHOR]

Green technology innovation is the principal approach to cleaner production and achieving sustainable development. This paper focuses on the impact of the synergy effect between external government subsidies and internal slack on green technology innovation, as well as the moderating role of ownership concentration in this process. Using China's data of the high-tech enterprises listed in Shanghai and Shenzhen from 2011 to 2016, the hypotheses are tested based on the fixed effect model of negative binomial distribution. The results suggest that: a) the synergy of government subsidies and unabsorbed slack effectively improves the enterprises' green technical innovation, while the synergy of government subsidies and absorbed slack negatively affect the enterprises' green technical innovation; and b) ownership concentration positively moderates the relation between green technology innovation and the synergy of government subsidies and unabsorbed slack with a inverted U-shaped curve, while there is no significance in their absorbed slack counterparts. Moreover, the baseline conclusions are applicable to non-state-owned enterprises, while they differ in state-owned enterprises regarding the property heterogeneity: the synergistic effect between government subsidies and absorbed slack has no significance on the green technology innovation of these state-owned enterprises; and the ownership concentration positively moderates the relation between green technology innovation and the synergy of government subsidies and unabsorbed slack with a U-shaped curve. Thus, an integrated framework of public supported resources, internal resources and the ownership concentration is built to optimize the allocation of external and internal resources for enterprises to develop green new technologies and ultimately promote the sustainability of the environment. This paper focuses on the impact of synergy effect between external government subsidies and internal slack on green technology innovation, as well as the moderating role of ownership concentration in this process. Image 1 • Systematically integrates external subsidies, internal slack resources, ownership concentration and green technology innovation. • The synergy between subsidies and slack resources on green technology innovation is moderated by ownership concentration. • Both absorbed slack and unabsorbed slack are readily recombined with subsidies to promote green technology innovation. • The relationship among subsidies, slack resources, equity and green technology innovation is heterogeneous in property. [ABSTRACT FROM AUTHOR]