Environmental Regulation and Sustainable Growth of Enterprise Value: Mediating Effect Analysis Based on Technological Innovation

This research aims to analyze the nonlinear relationship among environmental regulation, technology innovation and enterprise value provide a micro level of view on regulation. Taking 1714 A-share listed companies in China’s manufacturing industry from 2017 2020, panel regression model was conducted explore how regulation influences value. The empirical results show that: (1) total effect is U-shaped that technological enterprises has partial intermediary between value; (2) financial flexibility can significantly mitigate impact regulations study provides micro-level influencing