Research On Green Investment Behavior And Effect Of Enterprises From The Perspective Of Reputation Capital

Green investment is a new form of investment to build a harmonious relationship between man and nature.Its core is to develop a circular and sustainable economy based on environmental protection,and it is an important means to build an environment-friendly and resource-saving society.As the ecological and environmental problems become more and more serious,the concept of social environmental protection has gradually gained popularity,and the market demand has gradually shifted towards the direction of green environmental protection.As the key economic entities in the market,enterprises should pay close attention to the market changes in real time,analyze the market trend,and actively adjust their corporate strategies to adapt to the changes in the environment for green investment.However,corporate green investment is a huge challenge for enterprises to pursue the goal of profit maximization.It is difficult to balance the profit driven capital with the environment,and social sustainability is the fundamental reason that restricts enterprises to make green investment actively.In the theoretical circle,there is no clear conclusion on how to achieve economic,social and ecological benefits for enterprises,and the goal of triple surplus.It is not clear how to participate in green investment and how to achieve the home window through green investment.The Environmental Protection Law of China clearly states that the principle of "Whoever pollutes shall be responsible for the treatment and whoever develops shall be responsible for the protection".Protecting the environment and maintaining the ecology will not only help to realize the triple benefits of environment,society and economy,but also help Chinese enterprises to establish a good social reputation and achieve high-quality and sustainable development.At present,China’s green investment has some problems,such as insufficient investment,low efficiency and unreasonable structure.The government is the main force of green investment.Enterprises to carry out green investment tends to be driven by the pressure of government environmental regulation,so the investment efficiency is low,green investment for enterprises "three benefits" is often only realize environmental and social benefits,enterprise real pursuit of economic efficiency is not obvious,but the enterprise but also for its invest a lot of money and resources,as a result,the enthusiasm of voluntary enterprises to carry out the green investment is low.However,with the continuous strengthening of social awareness of environmental protection,some enterprises have begun to take the initiative to make green investment.However,there is no in-depth analysis on the emergence and causes of this phenomenon.Therefore,from the perspective of reputation capital,this paper selects 3trees Paint Co.Ltd.as the research object,and uses the organizational identity theory,signal transmission theory and stakeholder theory to analyze "how enterprises drive value creation through green investment".Based on the reputation capital model,this paper studies the value realization path of enterprises’ green investment.The results show that the enterprises to develop green investment actively can help shape the green image,won the attention of stakeholders and recognition,its reputation capital accumulation,the reputation of the accumulation of capital for companies by green investment gradually become the core competitiveness of enterprises,attracting potential stakeholder participation and investment,enterprise prompted stakeholders of enterprise organizational identification,provides for the enterprise to continue the green investment.In addition,enterprises’ active green investment also releases the pressure of moral and environmental regulations for enterprises,and provides intrinsic motivation for enterprises to realize the value creation of green investment.