The Impact of Green Technological Innovation on the Value of Heavily Polluting Enterprises under the Dual Carbon Goals: Analysis of Regulatory Effects and Threshold Characteristics

Abstract

Against the "dual carbon" goals backdrop, the relationship between green technological innovation and enterprise value in heavily polluting enterprises, an important topic, is moving towards non - linear research. Using data of China's listed companies in heavily polluting industries, this paper constructs a theoretical framework for the two and conducts an empirical analysis via the panel threshold model moderating effect test method. Findings show that green technological innovation positively impacts the value of heavily polluting enterprises with non - linear threshold characteristics, yet short - term cost pressure should be considered. Environmental regulation and financing constraints play important regulatory roles in this relationship, but policy synergy can't be fully ensured. The research offers policy suggestions from policy coordination, technological innovation incentives, and financial support dimensions, providing theoretical basis and practical inspiration for improving the green technology innovation policy system and promoting the value enhancement of green transformation in heavily polluting enterprises. However, industry heterogeneity requires further exploration. 

https://doi.org/10.65281/905187