Evaluating the Role of Environmental Policy in Driving Green Innovation in the Corporate Sector

Based on the implementation of the NEPL in 2015, this paper uses the DID model to explore the impact of the policy on the GTI of enterprises. The study finds that the NEPL has significantly promoted the GTI of heavy polluting enterprises, and this promotion effect is sustainable. Further analysis shows that enterprise R&D investment plays a significant intermediary role, which can improve the level of GTI of heavy polluting enterprises. In addition, the results of heterogeneity analysis show that the NEPL has a more significant promotion effect on non-state-owned enterprises. These research conclusions provide some enlightenment and suggestions for improving the research on the impact of the NEPL on the GTI of enterprises.