Research On The Influence Of Environmental Regulation On Corporate Environmental Performance

Since the 18 th National Congress of the Communist Party of China,the Party Central Committee has always placed the construction of ecological civilization in a prominent position,and the reform of the ecological civilization system has been comprehensively deepened.China’s ecological environmental protection has undergone a historic,turning point,and overall change,from "green development" being one of the five development concepts,to the "lucid waters and lush mountains are invaluable assets" being inscribed in the Party Constitution,and then the construction of ecological civilization and a beautiful China being enshrined in the Constitution.Due to its industry characteristics,heavily polluting enterprises are subject to multiple supervisions from the government,the media and the public,driving heavy polluting enterprises to formulate and implement environmental strategies in the production and operating activities,and improve environmental performance.Generally speaking,Chinese environmental regulation policies include three types: command-controlled environmental regulation,incentive environmental regulation,and voluntary environmental regulation.In practice,command-controlled environmental regulation dominates,but incentive environmental regulation and voluntary environmental regulation also have an impact on the environmental management behavior of companies.In this paper,the impact of three types of environmental regulation on the environmental performance of heavily polluting enterprises is taken as the main research content.Some data published by 168 A-share heavily polluting listed companies from 2013 to 2017 are selected for regression analysis to determine the relative strength of the three parties.It also points the way for the refinement and improvement of future environmental regulation policies.The results show that the environmental management effect of China’s heavily polluting industries is not good,and the environmental performance is low.At the same time,the implementation of the three environmental regulation is conducive to improving environmental performance of heavily polluting listed companies.Moreover,the command-controlled environmental regulation has the greatest impact on environmental performance of heavily polluting enterprises,the degree of influence of voluntary environmental regulation is second,and the impact of incentive environmental regulation is the least.Based on the problems exposed in the implementation of environmental regulation policies,this paper considers the government,enterprises and the public,and recommends that government agencies improve the environmental laws and regulations,strengthen the government’s environmental responsibility system,improve the environmental incentive system,and expand the public participation in environmental decision-making;heavy polluting enterprises should initiatively transfer the concept of environmental management,find an environmental management model suitable for the enterprise,and actively cooperate with environmental law enforcement;the public should lead by example,establish a correct concept of environmental protection,enrich the knowledge system of environmental protection,increase environmental protection practices,pay attention to environmental information published by enterprises,dare to report environmentally illegal enterprises,and make efforts to promote heavily polluting enterprises to reduce consumption and reduce emissions.