环境责任保险、绿色创新和中介效应研究

Yu Chen, Yuantao Xie
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摘要

本文首先建立了一个三方博弈模型,涉及三个主要参与者:保险公司、企业和政府。该模型用于分析各方在各种情况下的效用,其中一种情况是鼓励企业内部的绿色创新。根据该模型,当保险公司拒绝承保,而政府对环境责任保险保持中立立场时,企业可能会选择进行绿色创新。绿色创新从根本上说是一种机制,可以降低企业运营过程中产生的环境污染风险。在保险公司拒绝承保的情况下,企业通过绿色创新加强风险管理就变得非常理性,这可以被视为环境责任保险中的一个缓解因素。为了全面考察环境责任保险对企业绿色创新努力的整体影响,我们利用重污染行业的企业层面数据,采用了中介效应模型。本文深入研究了环境责任保险与重污染企业绿色创新能力之间错综复杂的关系,以及融资约束在这两个因素之间的中介影响。分析结果表明,购买环境责任保险可以缓解融资约束,从而提高重污染行业企业的绿色创新能力,并成为这方面的中介因素。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Environmental liability insurance, green innovation, and mediation effect study
This paper begins by establishing a three-party game model involving three key players: the insurer, the firm, and the government. This model is used to analyze the utility of each party in various scenarios, one of which encourages green innovation within the firm. According to this model, when the insurer rejects insurance coverage and the government maintains a neutral stance on environmental liability insurance, the firm may opt to engage in green innovation. Green innovation fundamentally serves as a mechanism to mitigate environmental pollution risks stemming from the firm’s operational processes. In cases where the insurer declines underwriting, it becomes rational for the firm to enhance its risk management through green innovation, which can be viewed as a mitigating factor in the context of environmental liability insurance. To comprehensively examine the overall impact of environmental liability insurance on the green innovation endeavors of firms, we use a mediation effect model utilizing firm-level data from heavily polluting industries. This paper delves into the intricate relationship between environmental liability insurance and the capacity of heavily polluting firms to engage in green innovation, along with the mediating influence of financing constraints between these two factors. The findings of this analysis suggest that the acquisition of environmental liability insurance enhances the green innovation capabilities of firms operating in heavily polluting industries by alleviating financing constraints, serving as a mediating factor in this regard.
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