A Study Of The Impact Of Environmental Regulation On The Comprehensive Performance Of Coal Firms

Coal is the basic energy source in China,which is an important lifeline for China’s economic and social development,and also one of the heavy pollution industries.In recent years,pollution incidents have occurred frequently,bringing serious negative impact to the normal life of human beings.How to face the problem of pollution control and what measures can be taken to minimize the emission of pollutants has become a concern of the whole society.In order to solve these problems,the government issued a series of rules and regulations to regulate the pollution of the environment,and the coal industry has become a key area for the implementation of environmental regulations because of its rough development method.On the one hand,strict environmental regulation policies make coal enterprises to increase capital investment in environmental management in order to meet the standards,which leads to increased costs and lower economic benefits;on the other hand,environmental regulation forces coal enterprises to green innovation and improve raw material utilization,which helps to develop overall performance.Therefore,clarifying the impact of environmental regulation on the comprehensive performance of coal enterprises plays a key role in achieving sustainable development of coal enterprises.The prerequisite for an accurate exploration of the relationship between the two is an accurate and objective measurement of environmental regulation and integrated performance.In the measurement of environmental regulation,in order to fully reflect the policy characteristics,different classifications should be made according to the strength of regulation;in the measurement of comprehensive performance,in addition to economic indicators such as profitability and operating capacity,environmental and social benefit indicators such as comprehensive utilization rate of coal gangue and payment rate of compensation for mine subsidence,which are in line with the characteristics of coal industry,should be added,so as to reflect the comprehensive performance of enterprises more completely and provide a solid basis for clarifying the relationship between the two.The relationship between the two provides a solid foundation.This paper explores the effect of environmental regulation on the comprehensive performance of coal companies,using listed coal companies as a research sample,in the context of the increasing national emphasis on the regulation of corporate pollution and environmental behavior.The article firstly compares the domestic and international literature on environmental regulation,comprehensive performance and their related relationships,and clarifies the concepts of the main variables and scholars’ results;secondly,it outlines the development history of environmental regulation and the current situation of pollution control in the coal industry,clarifies the necessity of the study,and measures the comprehensive performance of coal enterprises using the mutation level method;again,the comprehensive performance of coal enterprises is used as the explanatory variable,and combined with the multiple regression analysis method.empirically investigate what effects different types of environmental regulation tools have on the comprehensive performance specifically.The results show that:(1)command-and-control environmental regulation has a significant positive effect on the overall performance of coal enterprises.(2)Positive and negative market-incentive environmental regulations have different impacts on the overall performance of coal firms.Positive market-incentive environmental regulations have no significant impact on the overall performance of coal firms;negative market-incentive environmental regulations have a significant positive impact on the overall performance of coal firms.(3)Voluntary environmental regulations have no significant impact on the overall performance of coal enterprises.It can be seen that the effects of different environmental regulations on the overall performance of coal enterprises are not exactly the same.Finally,according to the findings of the study,the corresponding policy recommendations are proposed from both government and enterprise perspectives,which provide some reference for how to strengthen the effect of environmental regulation policy implementation in China.