YU Dengxi    Sunwah International Business School

ABSTRACT

With the deepening of global economic integration, multinational corporations play an increasingly important role in global economic and social development. At the same time, multinational companies make profits at the expense of environment in the production process. In recent decades, we have seen the continuous destruction of the natural environment, global warming, melting glaciers, excessive carbon dioxide emissions and other phenomena, which aggravate the extreme weather and pose a great threat to our present and future.

Today, with the continuous consumption of world resources and increasingly prominent environmental problems, the problems faced by multinational corporations in the development process are no longer simply market competition, but also meet the demands of various stakeholders for environmental protection. Multinational enterprises' capital investment in environmental protection can improve the environmental pollution caused by enterprises in the process of production and operation, realize the increase of environmental benefits, and also bring economic and social benefits to enterprises. R&D and application of green innovation technology will minimize environmental pollution, ensure that products meet the requirements of environmental protection, save resources and energy, make the resource utilization rate the highest and the energy consumption the lowest, and finally achieve the purpose of environmental protection, and at the same time, gain competitive advantages for enterprises.

In this paper, the frontier research on environmental protection investment and green innovation capability is followed, and based on stakeholder theory, resource-based theory, reputation theory and legitimacy theory, the influence of environmental protection investment on green innovation capability of Chinese manufacturing multinational enterprises is further discussed. In order to explore the internal mechanism of this influence, this paper introduces the intermediary variable of corporate social responsibility evaluation, and puts forward the relevant assumptions of this paper. In this paper, the data of 134 Chinese manufacturing multinational enterprises from 2008 to 2019 are selected, and the regression of each model is used to verify the impact of environmental protection investment and corporate social responsibility on green innovation capability, which provides a basis for the choice of corporate social responsibility strategy.

The research contents of this paper include: First, the impact of environmental protection investment on green innovation ability of enterprises. The ability of green

innovation is measured by the amount of green patent application and authorization. The second is the analysis of the impact of environmental protection investment on social responsibility. Thirdly, under the influence of social responsibility as an intermediary variable, the impact of environmental protection investment on the number of green innovation patent applications and authorizations is analyzed, and the internal influence mechanism is attempted to be analyzed. The research results of this paper show that: (1) Environmental protection investment of enterprises positively affects green innovation ability. (2) Environmental protection investment positively affects the evaluation of corporate social responsibility. (3) Under the evaluation of corporate social responsibility, the promotion effect of environmental protection investment on green innovation ability of enterprises will further increase, especially in the application of green innovation.

Environmental protection investment of manufacturing multinational enterprises cannot be superficial. Green innovation research and development is not carried out to obtain legitimacy and satisfy the demands of stakeholders. High-quality, green and innovative products, services, technologies and processes can reduce environmental pollution, save resources, and finally achieve environmental protection and sustainable development of enterprises.

Read the article here:     跨国公司环保投入对绿色创新能力的影响分析_于登玺.pdf