Science Research Management ›› 2022, Vol. 43 ›› Issue (10): 71-80.

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The regulating effect of government price regulation on green technology innovation upgrading of enterprises

Wang Mingyue1, Li Yingming1,2   

  1. 1. Institutes of Science and Development, Chinese Academy of Sciences, Beijing 100190, China;
    2. School of Public Policy and Management, University of Chinese Academy of Sciences, Beijing 100049, China
  • Received:2019-11-14 Revised:2020-02-28 Online:2022-10-20 Published:2022-10-21

Abstract:    To build a beautiful China, a transfer from pursuing the speed of development to the quality of development is needed, and at the same time, we have to realize greenization of the existing production and lifestyle. The construction of market-oriented green technology innovation system proposed in the report of the 19th CPC National Congress is the research background of this paper and also the endogenous driving force to achieve high-quality development. On one hand, the mismatch between the cost and benefit of green technology innovation will reduce the enthusiasm of R&D investment of enterprises and lead to market failure. On the other hand, the allocation efficiency of high innovation elements in government′s market-oriented regulation brings superiority of promoting enterprises′ green technological innovation. In the past management practices in China, most of the green technologies were limited to the environment (ecology) friendly technology, which corresponds to the adoption of administrative orders and environmental regulations to drive enterprise technological innovation. In terms of theoretical research, domestic and foreign scholars have analyzed the connotation of green technological innovation, the factors affecting green technological innovation and the performance of green technological innovation from different perspectives by means of qualitative and quantitative methods. 
   However, there is a close relationship between green process innovation and green product innovation. Previous management practices and theoretical studies have not fully analyzed the inherent mechanism of enterprises′ green technology innovation driven by government′s market regulation; have not deeply explored the impact of government′s market regulation on heterogeneous of green technology innovation and its performance; have not fully identified the transmission path from enterprises′ green technology innovation to economic performance; and have not systematically studied the effectiveness of government′s market regulation on the transmission path. 
    Green technological innovation of enterprises is an effective measure to promote the decoupling of economic development and environmental pollution rapidly, and it is also an important driving force to achieve the goal of comprehensive sustainable development. Different types of green technological innovation are not completely independent, and are in the process of continuous upgrading. Mixing different types of green technological innovation together cannot distinguish its inherent characteristics, but also is not conducive to clarify the relationship between different types of green technological innovation; independent analysis of the impact of different government regulations on green technological innovation is not conducive to analysis of the relationship between the government and the market in the process of promoting green technological innovation, which cannot be answered clearly how to establish a market-oriented green technological innovation system.
    Based on the survey data of 642 industrial enterprises, this paper conducts an empirical study on the relationship between government price regulation and green technology innovation upgrading of enterprises, trying to answer clearly the effect node and intensity of government price regulation in the dynamic evolution of green technology innovation. The results show that the upgrading path of green technological innovation is significant, that is, the development of end-pipe governance technology innovation is conducive to the derivation of green process innovation and green product innovation, and there is also a significant positive correlation between green process innovation and green product innovation. Second, the upgrading of green technological innovation is a partial intermediary relationship, and green technology innovation is an intermediary variable, and the proportion of indirect path is greater than that of direct path, that is, "end-pipe governance technology innovation→green technology innovation→green product innovation" is the main path of the upgrading of green technological innovation. Third, the government price regulation has a positive moderating effect on the upgrading of green technological innovation, but the regulatory nodes only exist in the upgrading process of green process innovation to green products, and the regulatory role of other nodes is not significant. Fourth, the government price regulation has a boundary effect on the relationship between green process innovation and green product innovation. Only when the government price regulation is greater than the critical value (-2.929), it will play a regulatory role, that is, the greater the intensity of government price regulation, the faster the green process innovation upgrades to green product innovation.
     In the process of promoting green technology innovation and innovation upgrading, we should not be too fast, but follow certain laws of economic development and technological innovation. Especially in the stage of high-quality development, we should follow the internal law of green technology innovation and economic development. Secondly, the promotion of green technology innovation and upgrading should be based on the development basis of regions, industries and enterprises. Different assessment indicators should be designed at different stages, and assessment standards should be continuously improved to achieve the orderly upgrading of green technology innovation. Thirdly, with the continuous improvement of production and life green requirements, enterprises should pay attention to green process innovation and green product innovation at the same time, so as to improve the economic performance of enterprises. Enterprises facing resource constraints should give priority to green process innovation, gradually extend to green product innovation in the process of technological innovation, and improve the added value of innovation behavior. Thirdly, in the process of promoting green process innovation and upgrading, the government should make good use of price-based market regulation, that is, the direct price or relative price that affects the derivative products (services) of green technology innovation to promote innovation and upgrading, for example, green process innovation is based on subsidies, tax benefits, loan discounts, R&D funds plus deduction and accelerated depreciation of R&D equipment. Finally, in the management practice of promoting green technology innovation, all regions should constantly summarize the laws, adjust and optimize the regulatory intensity, otherwise it will directly affect the regulatory effect.
     Through the above analysis, we can see more clearly how government′s market regulation promotes enterprises to innovate in green technology continuously. At the same time, it has a certain reference significance for the government to further optimize market regulation tools, and further understand how to build a market-oriented green technological innovation system.

Key words:  price regulation, green technological innovation, innovation upgrading, mediated moderation model