Retesting of “Strong Potter Hypothesis” under Fiscal Decentralization: From the Perspectives of Enterprise Environmental Protection Innovation and Non-environmental Protection Innovation

Abstract

Abstract: The “Weak Potter Hypothesis” defined as environmental regulation can lead to corporate technological innovation has been verified by many studies, but the “Strong Potter Hypothesis” defined as enterprise innovation can improve enterprise performance through innovation has rarely been verified by related research. Based on 2007-2015 data of listed companies in China′s manufacturing industry, this paper uses the two stage method of Homamoto to analyze the “Strong Potter Hypothesis”, and discusses whether fiscal decentralization can produce mediating effect. Empirical research shows environmental regulation will promote corporate environmental R&D input, but will reduce corporate non- environmental R&D input, environmental protection R&D investment has no significant impact on enterprise performance and competitiveness, while non-environmental protection R&D investment has a significant positive impact;corporate social responsibility and mandatory environmental regulation drive enterprises to increase environmental protection innovation investment, but fiscal decentralization will weaken this behavior. The conclusions of this study show that the strong Potter hypothesis is not existed in the Chinese listed manufacturing enterprises.

Key words: Strong Potter Hypothesis, firm performance, environmental protection innovation, environmental regulation, fiscal decentralization

CHEN Yu-ke. Retesting of “Strong Potter Hypothesis” under Fiscal Decentralization: From the Perspectives of Enterprise Environmental Protection Innovation and Non-environmental Protection Innovation[J]. 商业研究.

References

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