Research On The Effect Of Enterprise Ownership On Environmental Regulation

Over the past 40 years of reform and opening-up,China’s sustained and rapid economic growth has attracted worldwide attention,creating a late-starting country’s industrialization miracle,and after becoming the world’s second largest economy in2010,gdp per capita exceeded US$10,000 in 2019.However,the extensive economic growth model,which has long been highly dependent on the resource environment,has caused serious pollution of the environment,which has posed a serious threat to the sustainable development of the economy and the improvement of people’s quality of life.The 2014 Central Economic Work Conference concluded that from the point of view of resource and environmental constraints,the carrying capacity of the environment has now reached or is close to the upper limit.The Third Plenary Session of the 18 th Central Committee of the Communist Party of China proposed that in the construction of ecological civilization,a systematic and complete system of ecological civilization must be established and the ecological environment must be protected by the system.The economic essence of environmental problems is the market failure caused by the externality of economic main economic activities,and environmental regulation is the supply of government system to solve the externality of environmental pollution by regulating the economic activities of enterprises.As an important part of social regulation,the study of environmental regulation theory belongs to a relatively new field in regulatory economics.Enterprises are the main source of environmental pollution,different ownership nature of enterprises because of their own ownership characteristics,its own size,the relationship between the government,political status and other factors will affect the environmental regulatory bodies to supervise it.Unlike mature market economies,China is in a period of economic transition and has a large state-owned enterprise.Despite several rounds of reform,state-owned enterprises have not yet fully become the real market subject,have a natural political connection to the government.China’s private enterprises from scratch,from small to large,from weak to strong development process,in the process of becoming bigger and stronger,some enterprises began to gradually actively establish relations with the government.In this context,this paper attempts to systematically clarify the intrinsic mechanism of the effect of enterprise ownership on environmental regulation effect.Try to answer three questions:(1)Does the nature of ownership and how does it affect the effects of environmental regulation?(2)Does enterprises of different ownership nature influence the effect of environmental regulation through their preference for different environmental regulation policy tools?(3)Does the political association of enterprisehave have an regulatory effect in the effect of the influence of enterprise ownership on environmental regulation?The main innovations of this paper are:(1)From the perspective of enterprise ownership of micro-main enterprises to study the differences in the ownership of state-owned enterprises and private enterprises in the face of government environmental regulation behavior in the face of the government environmental regulation,thus affecting the effect of environmental regulation,From the perspective of the influence of state-owned enterprises and private enterprises on different types of environmental regulation policy tools,the mechanism of the effect of the ownership on environmental regulation is studied.(2)To study the political association as the adjustment variable of the influence of enterprises on environmental regulation,and to compare and analyze the adjustment effect of the political association in the study of the influence of environmental regulation in the enterprise ownership.(3)Using the three-stage DEA model to evaluate and compare the environmental regulation effect of enterprises with different ownership nature,the empirical analysis uses the entropy method to determine the index weight.(4)Try to construct the relationship analysis framework between enterprises and environmental regulatory institutions by drawing on the theory of principal-agent and general equilibrium analysis,and analyze the game between environmental regulation and state-owned enterprises and environmental regulation and private enterprises respectively.Based on the core research topic of the effect of enterprise ownership on the effect of environmental regulation,the paper systematically studies it by using various analytical methods,and gets the following main conclusions: The nature of enterprise ownership has a significant impact on the effect of environmental regulation,the heterogeneity of enterprise ownership will make enterprises have different strategic behaviorwhen when faced with environmental regulation,different ownership nature enterprises have different preferences for different environmental regulation policy tools,state-owned enterprises prefer command-control policy tools,private enterprises prefer market-incentive policy tools,state-owned enterprises and private enterprises have lower environmental regulation efficiency,state-owned enterprises are higher than private enterprises under the same environmental regulation conditions.State-owned enterprises can make the comprehensive use of environmental regulation policy has better results,state-owned enterprises can make command-controlled environmental regulation policy has better effect.Private enterprises can make the market incentive environmental regulation policy have better effect,and the political association of enterprises has the regulating effect in the influence of environmental regulation in the nature of enterprise ownership.This paper focuses on the following seven aspects:First,the introduction.This paper mainly introduces the background of the study and the significance of the research,the possible innovation points and shortcomings,briefly introduces the research content and methods of the thesis,and gives the research framework diagram of this paper.Second,the literature review section.Environmental regulation is part of social regulation,with the advancement of industrialization leading to more and more serious environmental problems,scholars of environmental regulation sources,environmental regulation policy tools,environmental regulation performance,environmental regulation on enterprises,The nature of enterprise ownership in environmental regulation and the political association of environmental regulation effect on several aspects of a series of research and exploration,this paper combs and summarizes the relevant literature,and briefly comments on it,summarizes the characteristics of the existing research and needs to be further expanded in depth and shortcomings.Third,the theoretical analysis part of the study.This chapter first expounds the related theories of externality theory,entrustment-agent theory and environmental regulation theory,constructs the analysis framework of the relationship between environmental regulation institutions and regulated enterprises,and then analyzes the game between state-owned enterprises and environmental regulation sand sands and between private enterprises and environmental regulation.Finally,the economic analysis of the impact of enterprises of different ownership nature on environmental regulation is carried out,and the empirical test carried out in the following paper is supported by theory.Fourth,the evaluation of environmental regulation efficiency of enterprises with different ownership nature.This chapter first builds the production function of adding environmental resources as input vector stakes of production input factor and output vector containing non-expected output.Select input variables,output variables and environmental variables using the three-stage DEA model to analyze the 2015-2017 panel data of 100 manufacturing listed companies in the Shanghai and Shenzhen stock markets,and evaluate and compare the environmental regulation efficiency of state-owned enterprises and private enterprises.Fifth,the empirical analysis of the effect of enterprise ownership on the effect of environmental regulation.Selecting proxy variables to construct the environmental regulation implementation index of enterprises,analyzing the effect of state-owned enterprises and private enterprises on the effect of environmental regulation,and proposing research assumptions,and constructing dynamic panel measurement models,Using the system GMM estimation method,the efficiency of environmental regulation is tested empirically by different ownership companies in Shanghai and Shenzhen listed companies and different types of environmental regulation tools.Sixth,the empirical test of the regulatory effect of political association on the effect of ownership on environmental regulation.On the basis of the fifth part,the context variables of enterprise political association are added to verify the regulating effect of enterprise political association in the influence of environmental regulation in the nature of enterprise ownership from an empirical point of view.First of all,the mechanism of enterprise political association on the effect of state-owned enterprises and private enterprises on environmental regulation is analyzed theoretically,then the measurement model is established,the regression analysis is carried out by using the virtual variable least square-by-sum method(fixed effect LSDV),and the adjustment effect of political association on the nature of ownership affects environmental regulation effect is studied.Seventh,the conclusions of the study and policy recommendations.According to the summary of this study and based on the conclusion,the corresponding policy suggestions are put forward from the aspects of enterprise ecological and environmental protection concept,enterprise environmental risk management,environmental regulation institution sewenewing ability,environmental regulation policy system and public participation.