Research On The Impact Of Datang Power Generation’s Environmental Responsibility Performance And Environmental Technology Innovation On Corporate Value Based On VAR Model

With the development of rural revitalization in China,the status and role of ecological civilization construction are becoming more and more important.General Secretary Xi also put forward a series of green development concepts,such as the two-mountain theory.Innovation and green development methods are highly respected,and the strategic position of ecological civilization construction has been more clearly defined,indicating the development direction for the fulfillment of environmental responsibilities and environmental protection technology innovation.Power generation companies,as emitters of smoke,sulfur dioxide,and nitrogen oxide pollutants,have an inescapable responsibility for fulfilling their environmental responsibilities.However,under the current conditions of vigorous innovation,it is not enough for companies to focus on investment in environmental responsibility performance.They must increase investment in environmental protection and technology innovation,so as to enhance their competitiveness in the market and promote corporate value.At present,most companies have made a lot of investment in both environmental responsibility fulfillment and environmental protection technology innovation,and these investments have also had a certain impact on the value of the company.But what is the extent of this influence? What is the duration? What is the relationship between environmental responsibility fulfillment and environmental protection technology innovation? These have not yet been determined,which also forms the purpose of this article.This paper uses the VAR model method to study the impact of Datang Power Generation’s environmental responsibility performance and environmental protection technology innovation on corporate value.First,the literature research method is used to summarize and sort out the current status of the three mechanisms at home and abroad,and then the concepts of the three are defined and the relationship between the three variables is analyzed.Secondly,we will briefly introduce Datang Power Generation.After constructing the indicator system,we will select appropriate indicators to measure these three variables.After that,analyze the three variables of Datang Power Generation.Finally,Eviews software was used to analyze the three variables of the enterprise,and a model was constructed to analyze the dynamic influence mechanism between the variables through impulse response analysis.Through the analysis results of Datang Power,we will provide some suggestions to Datang Power itself.At the same time,we will also combine Datang Power’s research results to make some suggestions to the government.It can be seen from the research results that the performance of environmental responsibilities and environmental protection technology innovation can effectively enhance the value of enterprises.Environmental protection technology innovation has a certain lag in the impact of enterprise value.Environmental protection technology innovation will reduce the value of the enterprise in the medium term due to large capital investment.However,there is a certain promotion effect in the early and late stages;the performance of environmental responsibility can effectively stimulate enterprises to carry out environmental protection technology research and improvement.In order to achieve a certain efficiency in the performance of environmental responsibility,enterprises need to innovate environmental protection technology to improve the level of environmental protection technology innovation.Environmental protection technology innovation will squeeze part of the funds for environmental responsibility performance due to the large initial capital demand,which has a restraining effect.However,with the mature application of technology in the later stage,the green production has been realized,the production efficiency of the enterprise has been improved,and the overall environmental situation of the enterprise has been improved.And the benefit period of R&D results is very long.All in all,the fulfillment of environmental responsibilities and environmental protection technology research and development need to be organically combined and complement each other.In order to enhance their own value,companies must actively perform environmental responsibilities,but also work hard on environmental protection technology research and development,and pay attention to collaborative research and development to share research and development costs.Enhance liquidity of funds.