On The Impact Of Environmental Protection Tax On Environmental Performance Of Companies In China's Steel Industry

In recent years,with the rapid development of China's economy,as the increasing degradation of the consequences of environment,there is increasing recognition of the importance of protecting the environment.Enterprises are the main body of pollutant emissions.So the primary task of reducing pollutant emissions is to reduce the pollutant emissions of enterprises.In the market-oriented economy,economic ways are the effective measures to regulate the pollution discharge behavior of enterprises.Since reform and opening up,China has mainly adopted the method of charging pollutant discharge fees to enterprises to regulate the pollution of economic development to the environment.Sewage charges have gone from "exceeding charges" to "total charges",and the collection standards have continued to increase.On January 1,2018,China formally implemented the environmental protection tax,realizing the "translation" of sewage charges to the environmental protection tax and completing the upgrade from "fee" to "tax".Environmental performance is a measure of the company's effort and effect to achieve sustainable development while protecting the environment.In order to study the impact of environmental taxes on the environmental performance of enterprises,this paper first collates the relevant literature at home and abroad,expounds the relevant research status and reviews it.Then,based on theories of environmental performance and stakeholder theory,five hypotheses were proposed.Taking the listed companies in the steel industry of the Shanghai-Shenzhen Stock Exchange from 2011 to 2018 as a research sample,empirical studies have concluded that the impact of environmental protection taxes on environmental performance is complex.In terms of environmental management,there is an insignificant positive correlation between environmental taxes and environmental management.That is to say,the environmental protection tax will not obviously promote enterprises to improve their environmental management methods and improve their environmental management system.However,the environmental protection tax and the current environmental technology innovation are significant at the level of 10%,and they are lagging and heterogeneous.The environmental protection tax and the lagging stage of environmental protection technology innovation are significant at the level of 1%,and the environmental protection tax in developed regions has not significantly promoted the environmental protection technology innovation of enterprises.Finally,based on the test results,this article puts forward relevant suggestions at the government and enterprise levels to improve the environmental performance of steel industry enterprises.From a micro perspective,this study empirically studies the impact of environmental protection tax on the environmental performance of listed companies in the steel industry in China,and tests whether the environmental protection tax policy has improved the environmental performance of enterprises and whether companies have improved management and green management in a timely manner according to national policies It supplements the existing research on the impact of environmental protection tax on enterprises and enriches the existing research on environmental performance of the steel industry.