Environmental Subsidies,Nature Of Property Rights And Enterprise Environmental Performance

The 18th national congress of the communist party of China and the 19th congress came up with these ideas of practicing the concept of green development and build a beautiful ecological home and Protecting the ecological environment is to protect the future.Green development has been gradually turned into an important development strategy in China.As one of the major stakeholders,The social public and government departments take risks for the daily operation of enterprises.They will ask companies to balance their interests.In other words,enterprises should bear the social responsibility of protect the environment and reduce pollution.Because of environmental costs,Companies would rather be punished than increase environmental input.Government departments will allocate subsidies for environmental protection to enterprises to improve their environmental performance.Environmental subsidies are special financial subsidies to protect the environment and reduce pollution.Investment in environmental protection is increasing,But environmental events often happen.The efficiency of environmental subsidies has become a concern.The purpose of this paper is to study whether environmental subsidies can improve enterprise environmental performance.What types of companies are more likely to get environmental subsidies?When state-owned enterprises and non-state-owned enterprises receive green subsidies,who will pay more attention to improving the enterprises environmental performance.The research samples of the paper from Shenzhen and Shanghai stock exchange.We are Stripping out environmental subsidies from government subsidiesd and we are using the ratio of environmental protection subsidy and ending total assets as the proxy variable of environmental subsidies.The discharge fees per unit of revenue is an alternative indicator of enterprise environmental performance.The higher the EP means the worse the environmental performance.The study found that state-owned enterprises are more likely to get environmental subsidies.Environmental subsidies can effectively improve enterprise environmental performance.State-owned enterprises pay more attention to enterprise environmental performance than non-state-owned enterprises.In previous studies,few people distinguish between green subsidies and government subsidies,This paper studies the impact of environmental subsidy on environmental performance of enterprises.This paper studies the difference of environmental performance between state-owned enterprises and non-state-owned enterprises after obtaining environmental subsidy.The research of this paper has important implications for the public and government departments to understand the benefits of environmental subsidies.It has certain significance for the government to better use environmental subsidies to stimulate environmental performance.