能耗约束目标对企业绿色技术创新的影响机制——政治关联的调节效应

基于2008—2020年中国上市公司数据，实证分析能耗约束目标对企业绿色技术创新的影响机制，以及在这一影响机制下政治关联的调节作用。结果表明：能耗约束能够有效推动企业绿色技术创新，并且在国有企业中尤为显著。进一步研究发现，能耗约束目标下，国有企业侧重于绿色发明专利研发，对绿色实用新型专利研发的关注较少，民营企业则二者兼顾。此外，在能耗约束目标对企业绿色技术创新的影响机制中，国有企业政治关联发挥显著调节作用，削弱能耗约束目标对企业绿色技术创新的影响，而民营企业政治关联的调节效应不显著。

The Influence Mechanism of Energy Consumption Constraint Target on Green Technology Innovation:The Moderating Effect of Political Connection

China has achieved rapid economic development at the cost of the environment. The extensive mode of economic development characterized by high energy consumption, high pollution and high emissions has led to the increasingly prominent problem of ecological pollution. The high total energy consumption and energy intensity have caused a large number of carbon dioxide emissions, resulting in the greenhouse effect and frequent extreme weather events. Faced with the severe ecological situation, China has incorporated energy consumption constraints into binding indicators since the 11th Five-Year Plan, actively promoted energy conservation, emission reduction and environmental governance, and the strategy of innovation-driven development made by the 18th National Congress of the Communist Party of China has become a scientific guide to deal with the contradiction between economic development and environmental pollution. Market-oriented and enterprise-oriented green technology innovation system has become the strategic guarantee for the transformation to green economy. However, the green technology innovation of enterprises is a complex behavior of multi-factor interaction, and the research on the interaction of energy consumption constraints and corporate political connections on the green technology innovation behavior of enterprises can provide feasible suggestions for the harmonious coexistence of economy and ecology.#br#On the basis of this ground, this study selects the specific categories of environmental regulation as the research object, concretizes the energy consumption constraint target into data and green technology innovation of enterprises one-to-one correspondence, and tests the impact of the energy consumption constraint target on green technology innovation of enterprises and the R & D tendency of enterprises under the coping mechanism by distinguishing the form of enterprise ownership and enterprise patent category. Furthermore this study integrates political connection into the energy consumption constraint target on enterprise green technology innovation in the influence mechanism, and explores the relationship among the three to test if there is a moderating effect of enterprise political connection. #br#In this paper, the data of Chinese listed companies from 2008 to 2020 are selected. The empirical results show that the energy consumption constraint target can effectively promote the green technology innovation of enterprises, and it is particularly significant in state-owned enterprises. Further study finds that with the energy consumption constraint target, state-owned enterprises focus more on the research and development of green invention patents, and pay less attention to the research and development of green utility model patents; while private enterprises pay more attention to both. In addition, in the mechanism of the impact of energy consumption constraint on green technology innovation, the existence of political connections in state-owned enterprises plays a significant role in moderating the impact of energy consumption constraints on green technology innovation, while the moderating effect of political connections in private enterprises is not significant.#br#According to the findings of the study, this study puts forward four suggestions to ensure the healthy and orderly promotion of green technology innovation in enterprises. First, the government should scientifically formulate energy consumption constraint target and give full play to the positive role of energy consumption constraint target in green technological innovation of enterprises. The second is to formulate differentiated incentive policies according to the heterogeneity of enterprises, so as to realize the precise role of policies in green technological innovation. Third, the government should crack down on rent-seeking behavior of enterprises and advocate a fair and just market competition environment. Fourth, the government should guide social green consumption behavior and strengthen the market orientation of green technological innovation.#br#