TITLE:
Analysis of the Influence Mechanisms of Environmental Management System Certification on the Green Innovation of Enterprises: The Exogenous Shock Effect of Environmental Protection Tax
AUTHORS:
Guoping Liao, Shihang Yang
KEYWORDS:
ISO14001, Enterprise Green Innovation, Investment Efficiency, Environmental Tax Implementation, China
JOURNAL NAME:
Modern Economy,
Vol.14 No.5,
May
31,
2023
ABSTRACT: Promoting the green transformation of
enterprises is key to achieving the goal of “double carbon” and promoting sustainable economic
development. Based on 2012-2021 panel data of Chinese
listed companies in Shanghai and Shenzhen, this
study explores how various factors interacting with environmental management system certification (ISO14001
certification) indirectly impact enterprises’
green innovation. The mechanism analysis indicates that enterprises’ management
system certification promotes green innovation by improving investment
efficiency and alleviating financing constraints. Heterogeneity analysis
demonstrates that this promotion effect of environmental management system
certification on enterprise green innovation is primarily reflected in private
and large-scale enterprises. Further analysis demonstrates that the
implementation of the Environmental Protection Tax Law of the People’s Republic of China in 2018 strengthened the system
even further. Compared with state-owned enterprises, this positive effect is
primarily concentrated in non-state-owned enterprises. This study provides
empirical evidence to confirm the beneficial impact of environmental management
system certification and environmental
protection tax on corporate green innovation and provides inspiration
for the promotion of this practice.