The Influence of Central Environmental Inspection on the Transformation and Upgrading of Manufacturing Enterprises——Based on the Test of Mediator Effect of Marketization Process

Abstract

Abstract: As a major institutional innovation in the field of environmental governance in China,the Central Environmental Inspection system provides opportunities for manufacturing enterprises to undertake independent transformation though they have to face pressure and challenges.Based on the analysis of the implementation process of the system,this paper,with the help of the annual data about listed manufacturing enterprises from 2012 to 2018,explores the influence of the Central Environmental Inspection on the transformation and upgrading of manufacturing enterprises by using the Multiphase Difference-in-Differences design.The results show that the Central Environmental Inspection promotes the transformation and upgrading of manufacturing enterprises by promoting the marketization process.At the same time,with more rounds of inspection going on,this system's influence goes deeper into the transformation and upgrading of manufacturing enterprises,especially those large technology-intensive manufacturing enterprises in eastern China,which benefit significantly from the system.Finally,suggestions are given for the above conclusions.

Key words: Central Environmental Inspection, transformation and upgrading of manufacturing enterprises, marketization process, Multiphase Difference-in-Differences design

Zhao Haifeng, Li Shiyuan, Wu Zhaowei. The Influence of Central Environmental Inspection on the Transformation and Upgrading of Manufacturing Enterprises——Based on the Test of Mediator Effect of Marketization Process[J]. Management Review, 2022, 34(6): 3-14.

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