Could environmental regulation promote the technological innovation of China's emerging marine enterprises? Based on the moderating effect of government grants.

The current emphasis of China's emerging marine industry on scale instead of innovation has formed a "vicious environmental-economic circle". Based on the panel data of China's emerging marine enterprises from 2013 to 2018, the fixed-effects model was used in this study to test the environmental regulation impact on technological innovation of emerging marine enterprises and the moderating effect of government grants on the relationship among technological innovation and environmental regulation of emerging marine enterprises, and a further analysis from the aspect of ownership heterogeneity was conducted. The research results show that there is an important optimistic correlation among technological innovation and environmental regulation of emerging marine enterprises. Government grants negatively affect the relationship among them, and the negative regulatory effect is significant on non-state-owned enterprises.