Environmental Investment And Enterprise Performance

In response to China's strategic goals of high-quality development,ecological environment construction has been incorporated into the government's important agenda.This series of measures not only emphasizes the urgency of China's environmental protection,but also highlights the key to the development policy of “economic and social sustainable development and environmental protection synergy”.As the largest body of social production,as well as the main consumer of resources and the main producer of environmental issues,enterprises have an unshirkable social responsibility for environmental protection.Whether environmental protection investment can promote corporate performance has always been the focus of debate between the theoretical community and the real industry.Moreover,environmental protection investment,as a strategic decision within the enterprise,is often influenced by the financial status and executive characteristics of the company.In a complex and dynamic external environment,GEM companies are often more vulnerable to bankruptcy threats.At the same time,based on the expansion of business and the advancement of economic globalization,team members often form different factions based on multiple attributes such as nationality,gender,and age.The phenomenon of team differentiation into multiple sub-teams is very common,and different genres are formed within the enterprise.circle.Therefore,based on the internal financial status of the organization and the role of executives.Based on the above analysis,the main contents of this paper are as follows:Firstly,the paper analyzes the variables environmental protection investment,financial performance,bankruptcy threat,and the team fault-lines,and defines the concept,theoretical basis and existing research of related variables.Secondly,based on the basis of literature review,the hypothesis of this paper is proposed.Thirdly,based on the data of 255 GEM listed companies,this paper constructs a multiple linear regression model,which analyzes the correlation between test independent variables,interaction terms and dependent variables.Finally,the empirical results show that:(1)the relationship between environmental protection investment and short-term performance of enterprises is not significant.(2)Environmental protection investment has promoted the improvement of long-term performance of enterprises.(3)The threat of bankruptcy does not regulate the relationship between environmental protection investment and short-term performance of enterprises.(4)The threat of bankruptcy positively regulates the relationship between environmental protection investment and long-term performance of the company.(5)The bankruptcy threat and the team fault-lines regulate the relationship between environmental protection investment and short-term performance of the enterprise.(6)The bankruptcy threat and the team fault-lines have adjusted the relationship between environmental protection investment and long-term performance of the company.