Search

Reasonable risk-taking is an important prerequisite for corporate green transformation. How environmental regulation policies affect corporate risk-taking is an issue worthy of discussion under the background of the development of economic and social green transformation. Based on a theoretical analysis of the effects of environmental regulations, this study used the data of China’ s A-share listed companies from 2004 to 2019 to empirically test the impact of environmental regulation policies on corporate risk-taking. The study found that: ① The strengthening of environmental regulations would significantly increase the level of corporate risk-taking. ② The mechanism test found that both the ‘dynamic effect’ of environmental regulations promoting technological progress and market competition efficiency and the ‘pressure effect’ aggravating enterprises’ production costs and the degree of enterprises’ shadow banking activities would lead to a rise in the level of corporate risk-taking. ③ The regional innovation environment and the cost transfer ability of enterprises significantly affected the policy effect of environmental regulations on improving corporate risk-taking. ④ Further re⁃ search showed that environmental regulations promoted corporate risk-taking, reduced the environmental performance of enterprises, and improved the default risk of enterprises, indicating that the negative effect brought by ‘pressure effect’ occupied a dominant position. This study has not only enriched the research on the effects of environmental regulation policies, but also expanded the research horizons of factors affecting corporate risk-taking. [ABSTRACT FROM AUTHOR]

In order to explore the impact of technological innovation on economic performance all regions in China is studied from different environmental regulation. The panel data of 30 provinces from 2007 to 2017 are collected, and variables reflecting environmental regulation and technological innovation are designed. Multivariate linear regression analysis is used to verify how technological innovation affects economic performance before and after environmental regulation is added. The results show that technological innovation has a significant positive impact on economic performance, and technological innovation has still a positive impact on economic performance after addingenvironmental regulation.The eastern region is superior to the central and western regions in terms of environmental regulation policy, technological innovation and economic performance, and in dealing with the relationship among those three. Therefore, on the basis of implementing appropriate environmental regulations, the government encourages technological innovation and increases D expenditure appropriately, which is conducive to improving sales revenue of new products and increasing economic performance. [ABSTRACT FROM AUTHOR]