Research On The Relationship Between Government Environmental Subsidy And Enterprise Environmental Investment

With the continuous acceleration of China’s economy,China’s environmental problems have become increasingly prominent,and environmental governance has become a major problem for us.As an important part of society,enterprises are the main consumers of resources and energy,as well as the main manufacturers of environmental problems.They have an unshirkable responsibility for environmental protection and have a far-reaching impact on environmental quality,so they should bear environmental responsibility.As a result,increasing environmental protection investment by enterprises has become the general trend.However,it is difficult for enterprises to undertake the mission of environmental protection by themselves,so it needs government regulation and guidance.In this paper,from the perspective of government support,we analyze whether the government environmental protection subsidy can have an impact on enterprise environmental protection investment.Therefore,this paper selects A-share listed companies in 2014-2018 as the research sample,studies and analyzes the impact of government environmental protection subsidies on enterprise environmental protection investment,considers the impact of government environmental protection subsidies on environmental protection investment in enterprises with different property rights,and the role of government environmental protection subsidies on different types of environmental protection investment.The research shows that the government environmental protection subsidy has a significant role in promoting the environmental protection investment of enterprises,which is significant in non-state-owned enterprises,but has no significant impact on state-owned enterprises.Through a more in-depth study of the impact of government environmental protection subsidies on different types of environmental protection investment in enterprises,it is found that the impact of government environmental protection subsidies on promoting capital environmental protection investment in enterprises is more significant,while the impact on cost environmental protection investment is not significant.Based on the above research findings,we can get enlightenment and suggestions: the government should strengthen the enforcement of environmental protection subsidies,enhance the enthusiasm and initiative of enterprises to carry out environmental protection investment;in the aspect of environmental information disclosure,it should be more standardized and unified to provide effective basis for the government to carry out environmental protection subsidies;we should establish a sound evaluation system of government environmental protection subsidies to make its supporting role play a greater role.We should also establish and improve the supervision system of government environmental protection subsidy,so that it can truly be implemented in environmental protection actions.On the other hand,under the support and guidance of the government,enterprises should take the initiative of social responsibility and improve the level of environmental protection investment.