The Emprical Study On The Effect Of China's Environment Policy On Firms' Environmental Innovation Performance

The Seventeenth Congress Report raises protecting the environment and increasing sustainable development capacity to the strategic position of building the resource-and environment-friendly society. How to increase China environmental protection level has become a major issue to the sustainable development. Environmental innovation, due to its typical "double externality" (R&D spillovers and positive externalities), gains the national attention.As to the integration of the study on environmental policy and enterprise environmental innovation performance level, domestic and international studies are rare. Most scholars use the qualitative analysis to study the environmental policy, and they are lack of quantitative research using econometric models, so it is not possible to evaluate the impact of environmental policies on enterprise environment innovation performance accurately. This paper collects 2682 environmental policy of the state and issued by various ministries and commissions (not including that issued by the provinces and municipalities) from 1978 to 2007, and chooses 428 policies that have the strong correlation with enterprise environmental innovation to do quantitative analysis, and quantitatively describes the evolution of China's environmental policy track. At the same time, this paper puts the environmental policy variables into C-D production function so as to explore its effect on enterprise environment innovation performance.This study uses Eviews6.0 to conduct empirical study on the date, and the main findings are as follows:Firstly, since 1982, the overall stiengcy of the policy has brought the improvement of enterprise economic output performance, knowledge output performance and environmental output performance;Secondly, different means of environmental policy have different effect on enterprise economic output performance, knowledge output performance and environmental output performance, and it does not exist the best policy measures; Thirdly, the three levels of environment policy orientation have different promotion on enterprise environmental innovation, and the pollution prevention target is most effective, and the second is energy conservation target, but environmental technology innovation target can not promote the environmental innovation.Finally, combining with the findings, from the perspectives of government and business enterprises, this study puts forward measures and suggestions to improve the the environment policy and the level of environmental innovation.