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| Nonlinear Effects of Heterogeneous Environment Decentralization on Green Innovation Efficiency of Enterprises: Considering the Multiple Mediation and the Moderating Effects of Fiscal Decentralization |
| Qian Li,Wang Meixin,Xiao Renqiao |
| (School of Business Administration, Anhui University of Finance & Economics, Bengbu 233030, China) |
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Abstract Green technology innovation is the fundamental way to promote the transformation of regional economic structure, and a reasonable environmental management system is the key to encouraging regional enterprises to carry out green innovation. As the main body of green innovation, enterprises need to bear the dual externalities of innovation activities. It is difficult for them to realize green transformation only by market mechanism，and environmental policy intervention of the local governments is an important driver of enterprises' green transformation. #br#The environmental decentralization system, as the basic guarantee for local governments to independently formulate environmental policies, is expected to strengthen the flexibility of local governments in environmental governance. What impact will the existing environmental decentralization system and the level of decentralization have on the efficiency of green innovation of enterprises? It shall promote the green transformation of economic society by exploring this issue. The allocation of power and responsibility in economic affairs between central and local governments will also affect the decision-making of local governments in environmental management. The existing research on the impact of environmental decentralization on green innovation efficiency of enterprises is insufficient, and scholars have paid more attention to the relationship between environmental decentralization and green development. Most scholars focus on exploring the direct impact of environmental decentralization on green development without reaching generally-accepted consensus.#br#Following the theory of heterogeneous environmental decentralization, this paper uses the panel data of China's inter-provincial industrial enterprises from 2009 to 2020, and employs the dynamic GMM panel model to empirically analyze and test the nonlinear impact of environmental protection personnel decentralization, environmental protection funds decentralization，and environmental protection legislation decentralization on the efficiency of green innovation of enterprises，and explore the mediating effect of multiple factors in green R&D input and R&D output of enterprises , and finally it analyzes the moderating effect of fiscal decentralization. #br#The study finds that firstly both the decentralization of environmental protection personnel and decentralization of environmental protection legislation have an inverted U-shaped impact on the efficiency of enterprise green innovation, while the decentralization of environmental protection funds has an U-shaped impact on the efficiency of enterprise green innovation. There are obvious differences in the level of environmental decentralization in different dimensions among provinces in China. At present, three types of environmental decentralization in most provinces in China have not crossed the inflection point, and the impact of environmental protection personnel and legislative decentralization on the efficiency of green innovation of enterprises is in the promotion stage, while environmental protection funds decentralization has a blocking effect on the efficiency of enterprise green innovation. Secondly the green R&D input and R&D output of enterprises are the main transmission channels through which environmental decentralization plays a role in the green innovation efficiency of enterprises. Among them, the input of green R&D personnel and green R&D funds, and the output of green technology and the green economy show a significant partial or complete mediating role. Thirdly fiscal decentralization positively moderates the inverted U-shaped or U-shaped relationship among environmental protection personnel decentralization, environmental protection funds decentralization and the efficiency of green innovation of enterprises, while negatively moderates the inverted U-shaped relationship between the decentralization of environmental protection legislation and the efficiency of enterprise green innovation.#br#On the basis of the research results, this paper puts forward the following suggestions. Firstly for the different dimensions of environmental decentralization, the government should adopt regional differentiated environmental decentralization policies. Secondly the government should pay attention to the mediating role of green R&D input and R&D output, guide and urge enterprises to increase R&D investment and encourage enterprises to carry out technological innovation through environmental policy means. Thirdly it is essential to match the degree of fiscal decentralization with the division of central and regional environmental management authority, and further give play to the advantageous role of local governments in environmental decentralization governance from the perspective of fiscal decentralization.#br#
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Received: 27 July 2022
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