Research On The Impact Of Environmental Protection Tax On Enterprise Innovation

In the new era,China’s economy has entered a new stage with the theme of green economic development.The environmental problems caused by the rapid economic development can not be ignored.China conforms to the development trend of the times and proposes to change to high-quality economic development.Environmental governance is particularly important in this process.As a heavily polluting enterprise emitting a large number of pollutants,We should explore a new green development path.The achievements of energy conservation and emission reduction and green innovation are related to the success of high-quality economic development.The government should increase the investment in green innovation of enterprises,formulate relevant policies for coordinated development with the environment,and take into account environmental governance while developing the economy.The development of heavy polluting enterprises is the economic cornerstone of China’s current and future economic development.The state needs to formulate corresponding policies and systems to guide the green transformation of heavy polluting enterprises,take innovation as the guidance and improve the green core competitiveness.The promulgation of the environmental protection tax law in 2018 inspired us to gradually guide China’s heavily polluting enterprises to carry out enterprise innovation independently and consciously,take the path of green development,and finally become a new type of environmental protection and green enterprise.We can promote this process from the perspective of tax economy by establishing a perfect green tax system and green reward and punishment system,Improve the pollution problems of heavy polluting enterprises from the source.Firstly,this paper introduces the writing background of the article,combined with the trend of advocating the development of green economy in China,combs the relevant theoretical research of domestic and foreign scholars on environmental protection tax;Secondly,it introduces the development process and the current green tax system from the sewage charge to the current environmental protection tax in China,combs the relevant literature of domestic and foreign scholars on enterprise innovation,and analyzes the current situation and shortcomings of the innovation of heavy polluting enterprises in China,including the problems of low green innovation index and low transformation efficiency of innovation output.Furthermore,using the panel data of A-share heavily polluting companies listed in Shanghai and Shenzhen stock markets from 2012 to 2020,this paper constructs a multiple regression model,makes an empirical analysis of the above assumptions by using the double fixed effect model,and studies the innovation compensation effect of environmental protection tax.Then,this paper makes multiple secondary grouping of the data of heavily polluting enterprises,including the nature of property rights,scale,development years Regional differences are used as the classification standard to explore its heterogeneity,and the following conclusions are drawn:(1)environmental protection tax significantly promotes the enterprise innovation of listed heavy polluting enterprises in China,but it lags behind,that is,it significantly promotes the innovation level of heavy polluting enterprises in the next period.(2)For the second grouping,the environmental protection tax significantly promoted the innovation level of state-owned enterprises in the next period,but did not promote the innovation level of non-state-owned enterprises;Secondly,the environmental protection tax significantly inhibits the innovation of Enterprises above Designated Size in the current period,and significantly promotes their enterprise innovation in the next period,showing the situation of first inhibition and then promotion;Finally,environmental protection tax significantly inhibits the innovation level of enterprises in the current period and the next period below the survival time,and the innovation compensation effect of environmental protection tax only exists in developed areas,but this relationship is not significant in underdeveloped areas.Finally,through endogenous discussion,replacement of explanatory variables and adjustment of operating income of explanatory variables,this paper puts forward the differentiated implementation of environmental protection tax policies,strengthening and standardizing enterprise innovation support policies,improving the efficiency of enterprise innovation output and strengthening macro policy guidance,Suggestions on improving preferential tax policies according to local conditions.