Abstract
As a necessary informal system, media attention plays a supervisory role in the implementation of formal systems such as environmental regulations, which is an important force to enhance enterprises' green technology innovation. This paper takes listed companies in heavily polluting industries in China's A-share market as the research object, selects data from 2008 to 2017, and establishes a hierarchical regression model to explore the influence of media attention and environmental regulation on enterprises' green technology innovation. The results show: (1) there is a significant positive correlation between media attention and green technology innovation; (2) command-based and market-based environmental regulations positively regulate the relationship between media attention and green technology innovation for enterprises. This paper argues that media attention plays a role in external supervision and governance, stimulating enterprises' green technology innovation behavior. Therefore, we should actively utilize media attention in corporate environmental governance and gradually strengthen both command-based and market-based environmental regulations.
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