关键词: 水环境治理效率；多主体参与；空间杜宾模型；门槛效应；长江经济带

Abstract: As critical factors in water environment governance, the multi-stakeholder participation of governments, enterprises, and the public exerts significant influence on governance efficiency. In this study, we analyze panel data from 11 provinces and municipalities in the Yangtze River Economic Belt (YREB) from 2012 to 2021. Methodologically, we measure water environment governance efficiency (WEGE) using a super-efficiency SBM - DEA model, construct a distance weight matrix based on total water resources, and employ spatial econometric techniques (spatial Durbin model, SDM) combined with a panel threshold model to quantify the impact of multi-stakeholder participation on WECE. Furthermore, a mediation model is employed to examine the roles of government green innovation incentives and corporate green transition. Key findings include: ①Multi-stakeholder participation significantly enhances WEGE. ②Collaborative interactions among stakeholders improve regional governance outcomes, although the effectiveness varies significantly across the upper, middle, and lower reaches of the Yangtze River. ③Government green innovation incentives and corporate green transition effectively improve WECE through mediation effect. ④Threshold effects emerge when stakeholder engagement reaches critical levels. This research provides theoretical foundations and policy recommendations for optimizing multi-agent governance mechanisms in the Yangtze River Economic Belt, advancing sustainable development of regional water environments.

Key words: water environment governance efficiency; multi-stakeholder participation; spatial Durbin model; threshold effect; Yangtze River Economic Belt