Environmental Regulation, Digital Transformation and Green Technology InnovationA Study based on Empirical Evidence of Chinese Listed Manufacturing Companies

In the context of the deepening strategy of building an industrial power, the impact of environmental regulation on green technological innovation of industrial enterprises has become a hot research topic. Using valid data from A-share industrial listed companies in China from 2007 to 2020 as the research sample, a non-linear model was constructed to conduct empirical research and it is found that the intensity of environmental regulation had a U-shape relationship with green technological innovation, and environmental regulation inhibited green technological innovation in the range of low intensity, but promoted green technological innovation when it reached the range of optimal environmental intensity. Digital transformation had a positive impact on green technological innovation. Digital transformation is an important way to promote the relationship between environmental regulation intensity and green technological innovation, and government environmental regulation drives digital transformation of enterprises, which then acts on green technological innovation. The heterogeneity test finds that the positive impact of environmental regulations on green technological innovation was more significant in the eastern and western regions, industries with high government subsidies and non-state-owned industrial enterprises. In the future, the intensity of environmental regulation should be strengthened moderately, and at the same time, through digital transformation of enterprises, the green technological innovation of enterprises should be promoted continuously, so as to build a green, low-carbon and sustainable economic system.