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Differential effects of voluntary environmental programs and mandatory regulations on corporate green innovation

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Abstract

There is a long-lasting debate on whether environmental regulation fosters or hinders corporate green innovation. To address this debate, this study differentiates two types of regulations: mandatory environmental regulations (MERs) and voluntary environmental programs (VEPs), and explores whether MERs and VEPs, separately and jointly, affects corporate green innovation. This study also investigates the moderating effect of organizational slack on the focal relationship. With the data of top 100 listed companies in China, the results show that MERs significantly negatively affect green innovation, while VEPs significantly positively influence green innovation, and VEPs mitigate the negative impact of MERs on green innovation. Moreover, organizational slack strengthens the positive relationship between VEPs and green innovation, while no significant moderating effect on the MER–green innovation relationship. These findings provide guidance for corporate green innovation under mandatory regulations and voluntary programs.

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Acknowledgements

This work is supported by the National Natural Science Foundation of China (Grant Nos. 71672194), the Major Project for National Natural Science Foundation of China “Theoretical and empirical research on the coordinated development of mineral resources exploitation and ecological environment protection under the new era (No. 71991483)”. The authors thank the Editors and referees for their helpful comments and suggestions.

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  1. School of Business, Central South University, Changsha, China

    Dayuan Li & Fei Tang

  2. School of Business, Hunan First Normal University, Changsha, China

    Lu Zhang

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Li, D., Tang, F. & Zhang, L. Differential effects of voluntary environmental programs and mandatory regulations on corporate green innovation. Nat Hazards 103, 3437–3456 (2020). https://doi.org/10.1007/s11069-020-04137-y

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