Research On The Impact Of Government Economic Incentives On Environmental Performance In Listed Companies In Heavy Pollution Industries

In order to actively respond to climate change and ecological environment pollution,strengthen the construction of ecological civilization,and achieve green upgrading and transformation,my country has proposed the ambitious goal of completing the task of carbon peaking by 2030 and carbon neutrality by 2060.At this stage,due to the impact of the new crown epidemic,my country has to bear the pressure of economic downturn while dealing with environmental pollution problems.Government incentives have become an important measure to solve the phenomenon of market failure in environmental governance.For a long time,scholars at home and abroad have carried out rich research on environmental performance,especially the impact mechanism of government regulation on environmental performance has achieved fruitful results.However,there is still a lack of research on the impact mechanism of government incentives on corporate environmental performance.Based on the above realistic background,this thesis studies government subsidies and tax incentives in government economic incentives.Select the data of listed companies in my country’s heavily polluting industries from 2012 to 2019 to construct an econometric model and conduct relevant theoretical analysis and empirical testing.The purpose is to discuss the impact mechanism of different dimensions of government economic incentives on corporate environmental performance,and to deeply analyze the impact path of "government economic incentives-R&D investment-environmental performance".Further,based on the heterogeneity of property rights,this study deeply explores the differences in the impact mechanism of government economic incentives on environmental performance in heavily polluting enterprises with different ownership properties.The empirical research results show that:First,government subsidies and tax incentives are conducive to promoting listed companies in heavily polluting industries to carry out environmental governance activities and improve their corporate environmental performance levels.Second,government subsidies can indirectly promote corporate environmental performance through R&D investment,while tax incentives only have a direct impact on corporate environmental performance.Third,the effect of government subsidies on the environmental performance of state-owned enterprises is more prominent,while the impact of preferential tax policies on the environmental performance of non-state-owned enterprises is more obvious.Fourth,R&D investment can only play a mediating role between government subsidies and environmental performance regardless of the nature of property rights,and this mediating effect is stronger in non-state-owned enterprises.This thesis explores the impact mechanism of government economic incentives on corporate environmental performance,and builds a research path of "government economic incentives-R&D investment-environmental performance",which not only expands the research perspective of environmental performance,but also makes up for the academic community on government economic incentives and environmental performance.The research content of the relationship between the two is insufficient.In addition,this paper analyzes the internal mechanism of government economic incentives and environmental performance from the perspective of enterprise R&D investment,and finds the environmental protection effects of government economic incentives and R&D investment in environmental governance of heavily polluting industries.The research conclusions aim to provide theoretical basis and countermeasures for improving the Chinese government’s economic incentive environmental governance system,improving the environmental performance of listed companies in heavily polluting industries and the performance of environmental R&D innovation.