Dynamic Game Analysis of Enterprise Green Technology Innovation Ecosystem under Double Environmental Regulation

Abstract

In the context of China’s “double carbon” target, an urgent problem that remains to be solved is how to drive the construction of an enterprise green innovation ecosystem through effective environmental regulations to alleviate the pressure of energy saving and emission reduction. Based on this, we constructed a tripartite evolutionary game model of enterprises, governments and financial institutions, and used the evolutionary game theory and MATLAB simulation to analyze the evolutionary process of the interaction of the subjects of the green technology innovation of enterprises under the dual environmental regulation. The research finds that: (1) Both formal and informal environmental regulations can promote green technology innovation in enterprises, provided that the enforcement is controlled within an appropriate range; (2) Informal environmental regulations are a weaker driver of green technology innovation in firms than formal environmental regulations; (3) Six types of environmental regulation strategies, namely, the “penalty enterprises mechanism“, “financial support mechanism“, “public supervision mechanism”, “punishes financial institutions mechanism”, “financial subsidy mechanism” and “carbon tax mechanism“, have a decreasing effect on promoting the development of the green technology innovation ecosystem of enterprises; (4) Combining the implementation of a middle-intensity subsidy mechanism, a high-intensity penalty mechanism, a low-intensity public supervision mechanism and a middle-intensity carbon tax mechanism is the optimal strategy combination to encourage collaborative green technology innovation between companies and financial institutions.