Green Technology Innovation, Carbon Emissions, and High-Quality Development of Manufacturing Firms: Mechanisms and Empirical Evidence

Abstract

High-quality development of enterprises is a critical issue in China’s pursuit of a modern development paradigm. Against this backdrop, green technology innovation plays a vital role in achieving carbon reduction targets and promoting high-quality development. Focusing on the pathways through which green technology innovation drives high-quality development in manufacturing firms, this study constructs an analytical framework of “green technology innovation—carbon emissions—high-quality development” using data from Chinese listed manufacturing companies from 2015 to 2024. Empirical tests are conducted using baseline regression, mediation effect, and threshold models. The results show that green technology innovation significantly promotes high-quality development in manufacturing firms. Carbon emissions play a positive mediating role, accounting for 56.22% of the total effect. Moreover, the impact of green technology innovation on high-quality development exhibits a single-threshold effect, characterized by an insignificant effect in the early stage and a significantly strengthened effect in the later stage. Accordingly, policy recommendations are proposed, including strengthening innovation support and providing differentiated policy provisions.