Impact Of Environmental Protection Tax On Green Technology Innovation Of Heavily Polluting Enterprises

Since the reform and opening up,China has embarked on an extensive development path that has a serious impact on the ecological environment in order to develop the economy.Although the economic aggregate has maintained a high growth successfully,the environmental problems caused by the production and operation of heavily polluting enterprises have gradually become the focus of people’s attention.Based on the enlightenment of green development modes abroad in the past,we realize that promoting green technology innovation through policy means is an important means to break constraints of resources and environment and achieve green development.To this end,on January 1,2018,the “Environmental Protection Tax Law” came into effect,completing the smooth transition from sewage charge to environmental protection tax,which undoubtedly plays a certain role in promoting China’s current economic and social development.As for the impact of environmental protection tax on the green technology innovation of heavily polluting enterprises,this paper carries out a detailed study on it.Based on externality theory,Pigou tax and Porter Hypothesis,by studying the relevant research results of domestic and foreign scholars,using relevant data of Chinese A-share listed companies from 2016 to 2019,and taking the official levy date of environmental protection tax as the time of policy impact,this paper constructs the double difference model to analyze the impact of environmental protection tax on green technology innovation of heavily polluting enterprises.In addition,this paper further deepens the research content,and conducts heterogeneity test by grouping the data of listed companies according to the nature of property rights and the scale of enterprises.The main conclusions of this paper are as follows:First,the introduction of environmental protection tax will markedly promote the level of green technology innovation of heavily polluting enterprises;Second,compared with private heavy polluting enterprises,the levy of environmental protection tax has a more significant effect on promoting green technology innovation of state-owned heavy polluting enterprises;Third,compared with small-scale heavily polluting enterprises,the introduction of environmental protection tax has a more significant stimulating effect on green technology innovation of large-scale heavily polluting enterprises.In order to make the environmental protection tax system play a greater role and cover most of the heavily polluting enterprises as much as possible,this paper believes that it is necessary to further improve the tax system elements of environmental protection tax,formulate environmental protection tax policies in a differentiated manner,and further improve the tax collection and management system for heavily polluting enterprises.