| Since the reform and opening up,the achievements of our country’s economic construction and development in the past 40 years have attracted worldwide attention.The gross domestic product(GDP)has risen from 367.87 billion yuan in 1978 to 99.0865 trillion yuan in 2019.However,the extensive development model of "Only GDP First" in my country’s economic construction and development has not only reached the bottleneck,but also brought a series of problems to the environment.For example,the annual growth rate of gross domestic product(GDP)from 2010 to 2019 has dropped from 10.64%to 6.11%,and my country’s environmental performance world ranking has dropped from 116th to 179th.It can be said that this problem has become increasingly prominent.The report of the 19th National Congress of the Communist Party of China reiterated that "we must adhere to quality first,benefit first,and focus on supplyside structural reforms to promote high-quality economic development" and emphasized that"building an ecological civilization is a millennium plan for the sustainable development of the Chinese nation".In addition,the "Environmental Protection Tax Law of the People’s Republic of China" was officially implemented on January 1,2018.The implementation of the law clarified the principle of "who pollutes,who pays" in the form of law.The tax policy will also force companies to focus on pollution control,increase environmental protection research and development,and achieve technological environmental protection upgrades and cleaner production based on energy conservation and emission reduction.As a kind of market-based economic incentives,environmental taxation not only increases corporate costs,but also affects corporate behavior.On the one hand,as the amount of environmental protection taxes continues to increase,the amount of environmental protection investment of enterprises will also increase;on the other hand,environmental protection taxes will effectively force enterprises to transform to environmental protection,that is,when the tax burden of environmental protection taxes increases,the degree of corporate transformation to environmental protection will also increase.In addition,environmental protection taxes have different effects on enterprise innovation and enterprise total factor productivity,namely"incentive effect" and "inhibition effect".According to the "Porter Hypothesis" theory,levying environmental taxes can promote investment in technological innovation.Enterprises try to use technological innovation investment to improve the ability of enterprises to control pollution and the technological content of their products to offset the adverse effects of environmental taxes on business income;"Production and cost theory",environmental taxes increase the cost of enterprises,produce "inhibition effect" on enterprise innovation,and then inhibit the improvement of enterprise total factor productivity.So,under the background of economic transformation and green development in my country,what impact will environmental taxation have on enterprise innovation and the improvement of enterprise total factor productivity?Therefore,this article takes my country’s Shanghai and Shenzhen A-share listed companies in heavy pollution industries as a research sample to conduct an in-depth discussion on the relationship between environmental protection taxes and corporate total factor productivity,and at the same time examine the mediating effect of corporate innovation between the two.In addition,group inspections are conducted based on the intensity of tax administration,the degree of marketization,and the nature of property rights.The purpose is to further examine the differences in research conclusions in different scenarios,with a view to providing microscopic evidence for the economic consequences of environmental taxes,and providing corporate innovation and corporate total factor productivity.Practical paths and suggestions provide a basis for the further implementation of my country’s environmental protection tax and a reference for the construction of a green fiscal and taxation system.This paper divides the research content into three levels based on the technical route of raising questions-analyzing problems-solving problems.First,Chapters 1-3 include the research background,concept definition,literature review and review,and related theoretical foundations,which provide a realistic and theoretical basis for the research of this article;secondly,Chapters 4-6 combine theoretical analysis and empirical testing.The first is based on the competitive hypothesis of environmental tax and the total factor productivity of enterprises,verifying that the environmental tax promotes the improvement of enterprise total factor productivity through environmental protection of processes and green products;the second is to expand the influencing factors and economic consequences of enterprise innovation.Reduce costs and signal transmission,have an impact on business decision-making,and promote the improvement of enterprise total factor productivity;third is to further test the greening effect of environmental protection tax driven by innovation,and combine the intensity of tax collection and management,the degree of marketization and the group inspection of the nature of property rights to further verify The relationship between environmental tax,corporate innovation and corporate total factor productivity;finally,Chapter 7 summarizes the research conclusions,thinking from both macro and micro levels,in order to improve China’s environmental tax system,promote corporate innovation,and explore corporate management development strategies Provide feasible suggestions,and put forward the research limitations and future prospects of this article.The research in this paper is different from the previous single research on innovation behavior.It comprehensively considers the entire process of innovation activities,including innovation financing constraints,innovation input and innovation output,and verifies the mediating effect of corporate innovation between environmental protection taxes and corporate total factor productivity.The pertinence and implementation effect of environmental tax collection,as well as the development momentum and competitiveness of enterprises provide macro and micro empirical evidence.Based on the above research,this paper obtains the following conclusions through empirical testing:(1)Environmental taxes exist in the form of cash outflows from enterprises,which can promote the strengthening of environmental pollution control by enterprises.At the same time,environmental protection of production processes and products will help enterprises to increase their total factor productivity.The above conclusions are in tax collection and management.Strong,high degree of marketization and more prominent in private enterprises.(2)Enterprise innovation tends to change the production process and product environmental protection.Enterprises can reduce original costs and increase revenue through innovation,and at the same time send positive signals to the market,and obtain more internal resources and the favor of external investors.This will help enterprises to improve their total factor productivity,and this improvement is important in tax collection and management.,High degree of marketization and even more significant in state-owned enterprises.(3)In the process of environmental taxation to promote the improvement of enterprise total factor productivity,enterprise innovation plays a part of the mediating effect,that is,environmental protection tax can achieve the goal of promoting enterprise total factor productivity by improving enterprise innovation.Combined with further research,it is found that the intermediary effect of corporate innovation is more significant in strong tax collection and management,high degree of marketization,and private enterprises.The research contributions of this paper are mainly reflected in the following points:First,it has supplemented the research on the total factor productivity of enterprises.Under the background of the coordinated development of China’s economic growth and environmental protection,environmental protection taxes can effectively drive the continuous transformation of enterprise innovation to environmental protection.There are few studies on the impact of environmental protection taxes on the total factor productivity of enterprises.The external impact of environmental taxes is used to study the impact on the total factor productivity of enterprises.This is an important supplement to the research on enterprise total factor productivity.Second,it improves environmental tax research.Research on the externalities of environmental pollution has been carried out around environmental regulations.Most of them stop at the narrow environmental tax(pollutant discharge fee).This article starts from the definition of environmental tax and starts research with the narrow environmental tax and the broad environmental tax.,to a certain extent,provides new empirical evidence for environmental protection tax related research;third,expands the path research on the impact of environmental protection tax on the total factor productivity of enterprises,based on the theory of competitive advantage,resource-based theory,etc.The intermediary effect between the total factor productivity of enterprises,and through further research,combined with the intensity of tax collection and management,the degree of marketization and the nature of property rights,the purpose is to reveal the new path of environmental protection taxes affecting the total factor productivity of enterprises.Enrich the applicable scenarios of the practice path;fourth,the"Environmental Protection Tax Law of the People’s Republic of China"(hereinafter referred to as the "Environmental Protection Tax Law")has been implemented since January 1,2018.This policy has not been systematically tested.The research conclusions of this article are expected It can further improve the "Environmental Protection Tax Law" for regulatory authorities and provide theoretical support for listed companies to understand and use the "Environmental Protection Tax Law" to make scientific decisions. |
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