公众绿色关注下的环境战略能否促使企业实现实质转型OA

The global commitment to alleviating environmental crises is increasing.As one of the main participants in the market economy,corporate can provide strong assistance for the construction of a low-carbon society and the formation of sustainable markets through substantive corporate green transformation.Consequently,they are gradually becoming the focus of attention from various sectors of society.Existing research generally acknowledges that the substantial green transformation is influenced by external factors such as government and public demands,as well as internal factors like knowledge management.However,current literature has not thoroughly discussed the specific role of public environmental demands in the corporate green transformation,and has paid little attention to the efficacy of corporate environmental attitudes in the process.Therefore,starting from the motivations behind environmental strategies(ES),this paper examines the reactions of corporate when faced with public green concerns,aiming to explore the implicit mechanisms of green transformation at the behavioral level. Based on the sample selection principle,this paper selects balanced panel data of 248 industrial corporate listed on the A-share market in China from 2011 to 2020 for research.By comprehensively considering institutional pressure and economic incentives,it is assumed that the higher the public's green awareness,the more inclined the corporate is to adopt ES to meet the public's green demands.Furthermore,combining the analysis of altruism hypothesis and utilitarianism hypothesis,it is hypothesized that under the public's green attention,ES have a significant positive impact on the level of green technological innovation,and the impact of ES on high-quality green technological innovation is greater than on low-quality green technological innovation. Firstly,this paper discusses whether there is a significant positive impact of ES on the level of green technological innovation under public green concern.On one hand,the paper explores the influence of public green concern on ES,and the results show that in response to public green concern,companies are significantly more likely to adopt ES.On the other hand,the paper analyzes whether ES have a positive effect on the level of green technological innovation.Intuitively,ES adopted by companies can significantly enhance their level of green technological innovation,whether it be in overall technological innovation,high-quality invention innovation,or low-quality practical innovation.Subsequently,the paper incorporates public green concern and ES into the analysis,demonstrating that under public green concern,companies adopting ES indeed significantly promote green transformation.To ensure the robustness of the results,the paper employs instrumental variables,propensity score matching,placebo tests,lagged independent variables,replacement of key variables,and alternative regression methods to examine potential endogenous issues and variable measurement problems,and the results pass various robustness tests. Secondly,the study explores the differences in ES motivations from the perspectives of different pollution levels in industries and varying enforcement efforts in regions.Using pollutant emission intensity as a criterion,the industrial sectors are classified into lightly polluted,moderately polluted,and heavily polluted industries.It is found that under the public's green attention,the ES adopted by lightly and heavily polluted enterprises significantly enhance the level of green technology innovation,while the positive effect of ES of moderately polluted enterprises on green technology innovation is not significant.Furthermore,using the average number of environmental administrative penalty cases from 2011 to 2020 as sample division standard,provinces with enforcement stricter or equal to the average are categorized as strict enforcement provinces,while provinces with enforcement less than the average are categorized as lenient enforcement provinces.The results show that regardless of lenient or strict enforcement efforts,under the public's green attention,ES have a significant positive impact on green transformation,and this positive effect is stronger in regions with strict enforcement. Finally,in the study of safeguard mechanisms,this article found that managers' environmental protection experience,internal control quality,market competition,and social development level can significantly stimulate the positive effect of ES on green technological innovation.This indicates that corporate with managers who have environmental protection experience when formulating ES,genuinely consider the green demands of the public and society;internal control can provide strong organizational support for companies;fierce market competition can induce the drive for corporate green transformation;and a higher level of social development can reinforce the foundation of corporate green development. In summary,under the external pressure of public green concerns,actively implementing environmental strategic layouts is beneficial for corporate to undergo substantial green transformation,and this positive effect exists in all industries.When enforcement becomes stricter,this effect can even be further enhanced.However,this also requires revitalizing the vigor of internal and external factors such as managers' environmental protection experience,internal control quality,market competition,and social development level to provide safeguards for the green transformation process.