This study examines the impact of low-carbon city pilot policies on green innovation of enterprises. We find that: (1) The low-carbon city pilot policy significantly promotes green innovation in enterprises, while improving the quantity and quality of green innovation in enterprises. (2) R&D investment plays a mediating role in the relationship between the low-carbon city pilot policy and green innovation. (3) Based on external governance analysis, we find that the promotion effect of low-carbon city pilot policies on green innovation is more significant when media attention is higher.

中文翻译：

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低碳城市试点、外部治理、绿色创新


本研究考察低碳城市试点政策对企业绿色创新的影响。我们发现：（1）低碳城市试点政策显着促进了企业绿色创新，同时提高了企业绿色创新的数量和质量。 (2)研发投入在低碳城市试点政策与绿色创新关系中起中介作用。 （3）基于外部治理分析，我们发现，媒体关注度越高，低碳城市试点政策对绿色创新的促进作用越显着。