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| The Impact of Media Coverage on Green Technology Innovation of High-Polluting Enterprises |
| ZHANG Yuming，XING Chao，ZHANG Yu |
| Shandong University, Jinan, China |
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Abstract Based on the stakeholder theory and ecological modernization theory, this study presents an empirical analysis by using data from the listed high-polluting enterprises in Shanghai and Shenzhen stock exchanges from 2012 to 2018. The results show that media coverage, which is measured by negative environmental reports, can significantly improve the green technology innovation performance of high-polluting enterprises, implying the effect of “strengthen” rather than “straiten”. However, this effect can be mitigated by several factors, that is, too strict environmental regulation in macro aspect, too fierce market competition in meso aspect, and too loose internal control in micro aspect will reduce the positive impact of media coverage.
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Received: 27 May 2020
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