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Environmental Pollution Liability Insurance and Enterprise Innovation: Promote or Suppress? |
Ning Jinhui,Jin Yu,Zhang Yongbei |
(Accounting School,Tianjin University of Finance & Economics,Tianjin 300222,China) |
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Abstract In the context of green development, we empirically tests the impact of environmental pollution liability insurance on enterprise innovation and its mechanism based on the list of companies insuring environmental pollution liability insurance published by the Ministry of Environmental Protection. The study found that, first of all, insuring environmental pollution liability insurance can promote the improvement of enterprise innovation capability, indicating that environmental pollution liability insurance plays a positive role in corporate innovation governance. Second, the environmental pollution liability insurance enhances corporate innovation by easing the financing constraints. Moreover, the environmental pollution liability insurance has a stronger effect on the innovation level of non-state-owned enterprises. Finally, environmental pollution liability insurance and environmental regulation cannot play an effective synergy. The conclusions of this paper enrich the theoretical research on the factors of enterprise innovation and the economic consequences of environmental pollution liability insurance. At the same time, it has important practical significance for deepening green insurance reform and achieving innovation-driven development.
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Received: 08 May 2019
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