Study On The Influence Of Different Environmental Regulation Tools On Enterprise Performance

The rapid development of China's economy is accompanied by more and more serious environmental problems,the relevant state departments have put the environmental governance issues on the agenda.The control of environmental pollution can not only rely on the supervision of the national environmental protection department,but also need the active cooperation of the pollutant discharge enterprises.But the increasingly severe environmental regulation will increase the cost of production of sewage enterprises,this is the main reason why enterprises cannot cooperate well with the environmental protection department.Therefore,if we want to realize the win-win situation of "environment and economy",relevant environmental regulation departments should determine effective environmental regulation methods,this is also the significance of this article.Environmental regulation as a new and important external variable affecting business management behavior,enterprise managers need to make clear how environmental regulation affects enterprise performance and how the key factors play a role in enterprises,and the strength of an enterprise's R & D input affects its ability to adapt to market changes and ultimately affects the financial performance and development of the enterprise,So considering the intermediary role of R & D input,discussing the influence of different types of environmental regulation on enterprise financial performance,having a comparative analysis of the relationship between the types of environmental regulation and the financial performance of the enterprise has important theoretical and practical significance,and it is helpful to provide reference for the relevant government departments to choose and formulate environmental policies.This article is divided into five parts,the first part expounds the background and significance of the topic,the contents and methods of the research are introduced.The second part is literature review and theory,providing theoretical support for this study.The third part analyzes the relationship between the three main variables of environmental regulation,R & D investment and enterprise financial performance,and puts forward relevant hypotheses.The fourth part is an empirical analysis,mainly taking heavy pollution industry as the research object,selecting 251 listed in the Shenzhen and Shanghai Normal A share companies as the research sample,reference to the relevant literature combined with the actual design of the mediating effect of this model,and verifies the effect of market incentive environmental regulation tools and market incentive environmental regulation tools of enterprise performance using Stata12.0 software.The fifth part is the conclusion and prospect of this paper,and puts forward some suggestions according to the empirical results,and points out the shortcomings and research prospects of this article.The results show that the market incentive environmental regulation has a significant negative impact on the short-term financial performance of the enterprise,R & D investment plays a part of intermediary role,which has no significant positive impact on the long-term financial performance of the enterprise.The command-control environment regulation has a significant negative impact on the long-term financial performance,but the intermediary effect of R & D input is not significant.This paper holds that the result accords with the economic significance.The effective combination of different environmental regulation tools is a win-win guarantee for the realization of the "environment and the economy",at the same time,this paper gives relevant policy suggestions from the state,public supervision and enterprise level.