Research On The Influence Of FDI On Green Total Factor Productivity

At the time of achieving the goal of the first hundred years of struggle,environmental governance in the construction of beautiful China has always been the top priority of current work.China’s fast-growing economy has been recognized at home and abroad by sacrificing the environment and wasting resources.In order to realize the green water,the green mountain can also be the green economy transformation of Jinshan Yinshan.The Ministry of Environmental Protection has specific disclosure requirements for listed companies in China’s heavily polluting industries.Enterprises are obliged to carry out green production and business activities,and the environmental conditions occur in the annual disclosure activities.Relevant information about the impact.How to bring the green growth of the economy to reality,and how to achieve a virtuous cycle of the economy and the environment,the key is to improve the quality of economic growth.Green total factor productivity,as an indicator of the quality of economic growth,deserves our attention and research.In this paper,the deformation coefficient of the first industrial pollution source Pucha is used as the green coefficient of the enterprise,and the green total factor productivity(referred to as GTFP,the same below)of listed companies in the heavy pollution industry is calculated.The area varies.Different from previous scholars’ research,in order to verify the impact of foreign direct investment(FDI,the same below),environmental control and R&D investment and GTFP at the microenterprise level,and the mechanism of environmental control and R&D investment affecting GTFP.This paper proposes three research questions,namely,whether FDI promotes green total factor productivity,whether environmental regulation is a mediator variable affecting GTFP by FDI,whether R&D investment is a mediator variable affecting GTFP by FDI,and whether all three relationships exist.difference.Based on this,a panel model and an intermediary model are established to analyze their impact mechanism.The data of listed companies in the heavily polluting industries that existed between 2008 and 2016 were selected for empirical analysis.The main conclusions are as follows:(1)There is a positive promotion between foreign direct investment and green total factor productivity.There are regional differences between the two.FDI has a significant positive impact on GTFP in both the eastern and central regions.The positive effects of FDI in the western region on GTFP are not significant.The green total factor productivity of sample listed companies will also be affected by asset size,capital intensity,net asset value of total assets,asset-liability ratio and fixed asset turnover.The impact of asset-liability ratio on green total factor productivity is negative.There is a strong positive correlation between scale,capital intensity,profitability,operational capacity,and green total factor productivity of firms.(2)FDI promotes environmental regulation as a whole and in the eastern region,and environmental regulation has a strong positive and positive impact on green total factor productivity.Environmental regulation has a positive partial mediating effect on FDI impact on green total factor productivity in the eastern region as a whole,and the mediating effect of FDI on green total factor productivity in the western region is not significant.(3)Foreign direct investment has always had a negative inhibitory effect on R&D investment,supporting the viewpoint of “inhibition theory”,and R&D investment has always played a positive role in promoting green total factor productivity.R&D investment in foreign direct investment affects the green total factor productivity of enterprises with negative mediation effects.In combination with the research conclusions of this paper,in order to promote the transformation of the green economy and the coordinated development of the beautiful “five in one” of China,the following suggestions are provided: actively guide the direction of foreign capital inflow,actively build a balanced development of the region,strive to enhance the level of environmental governance,and insist on increasing R&D and innovation.