Abstract
Environmental governance (EG) and green technology innovation (GTI) are important means to promote the construction of ecological civilization of all countries around the world. Past scholars focused on the impact of EG on GTI based on the static perspective usually, but ignored the impact of the dynamic development law of enterprises. This study differentiates, takes enterprise’s life cycle stage as the breakthrough point, and analyzes the dynamic effect of EG on GTI at the first time. Further, considering the important of information interaction among different enterprise in the background of collaborative innovation, this study reveals the evolution trend of enterprise’s knowledge and technology transfer (KTT) in different life cycle stage, and explains the internal mechanism of the dynamic effect mentioned above. The theoretical model finds that for enterprises in different life cycle stage, the impact of EG on GTI depends on abatement cost and innovation compensation effect two aspects. The development of enterprise’s KTT helps to strengthen the incentive effect of EG on GTI, thus causing the differentiated GTI effect among different enterprises under the restrict of EG. The empirical research results based on the micro data of Shanghai and Shenzheng A-share listed firms from 2013 to 2018 in China confirm the theoretical inference. EG has a positive role in promoting GTI, however, compared with the enterprises in growth and mature stage, the positive innovation effect does not hold for the enterprises in recession stage. The statistical results show that the enterprise’s KTT in growth and mature stage is significantly better than that of enterprises in recession. Moreover, the empirical analysis results confirm that enterprise’s KTT have a positive moderating effect on the relationship between EG and GTI. Combined with the above conclusions, this study puts forward several useful management implications for improving the designing of environmental governance system, optimizing the cooperation of GTI and the EG decision-making under the background of collaborative innovation.