Many countries are facing environmental issues that affect the natural climate and life of human beings, therefore, governments have developed the strategies and regulations to control the industrial negative effects on the environment which is called environmental regulations (ER). To extend the porter hypothesis, we examined the moderating effect of product market competition (PMC) to find the circumstances that affect the association between ER and FP. We have divided PMC into high and low product market competition (HPMC and LPMC) by following the Herfindahl-Hirschman Index (HHI). The empirical investigation of this study demonstrates the following outcomes: ER indicates a statistically significant and positive relationship with FP. Furthermore, HPMC has great importance for FP, while LPMC has shown a negative relationship with FP. Besides, we tested the moderating effects of HPMC and LPMC on the association between ER and FP. The moderating effects of HPMC have significant and positive effects on the association between ER and FP. On the other side, the moderating effects of LPMC have significant and negative effects on the association between ER and FP. Moreover, this study promotes the importance of ER and PMC for firms. This study is beneficial for owners, investors, policymakers, and governments to form comprehensive and viable ER for reducing environmental negative effects.

许多国家都面临着影响人类自然气候和生命的环境问题，因此，各国政府制定了战略和法规来控制工业对环境的负面影响，这称为环境法规（ER）。为了扩展搬运工假设，我们研究了产品市场竞争（PMC）的调节作用，以发现影响ER和FP之间关联的情况。遵循赫芬达尔·赫希曼指数（HHI），我们已将PMC分为高产品市场竞争和低产品市场竞争（HPMC和LPMC）。这项研究的实证研究表明以下结果：ER表示与FP有统计学显着正相关关系。此外，HPMC对FP非常重要，而LPMC与FP却显示出负面关系。除了，我们测试了HPMC和LPMC对ER和FP之间关联的调节作用。HPMC的调节作用对ER和FP之间的关联具有显着的积极影响。另一方面，LPMC的调节作用对ER和FP之间的关联具有显着和负面的影响。而且，这项研究提高了ER和PMC对企业的重要性。这项研究对于所有者，投资者，政策制定者和政府有利于形成全面可行的ER，以减少对环境的负面影响。LPMC的调节作用对ER和FP之间的关联有显着和负面的影响。而且，这项研究提高了ER和PMC对企业的重要性。这项研究对于所有者，投资者，政策制定者和政府有利于形成全面可行的ER，以减少对环境的负面影响。LPMC的调节作用对ER和FP之间的关联有显着和负面的影响。而且，这项研究提高了ER和PMC对企业的重要性。这项研究对于所有者，投资者，政策制定者和政府有利于形成全面可行的ER，以减少对环境的负面影响。