Research On The Impact Of Green Taxation On Toal Factor Productivity Of Manufacturing Enterprises

Based on the background of new development pattern and accelerated greening process,green transformation of enterprises is an important grasp to promote the high-quality development of manufacturing industry.The report of the 20 th National Congress of the Communist Party of China pointed out that "the core of high-quality development of manufacturing industry is total factor productivity",and we must insist on continuously improving total factor productivity with technological innovation and promoting the coordination of green manufacturing and environmental friendliness,so as to realize the high-quality development of manufacturing enterprises.As one of the influential macroeconomic instruments of the government,green taxation is especially effective in guiding domestic green production and consumption,which can promote the economic development towards greening and is of great significance in promoting the high-quality development of China’s manufacturing enterprises.Therefore,it is necessary to make full use of the green taxation policy to deeply explore the potential of the pillar industries of China’s real economy development,comprehensively improve the total factor productivity,promote the economy to realize the effective improvement of quality and reasonable growth of quantity,and finally realize the high-quality development of manufacturing enterprises.Based on the perspective of green taxation,the article explores the mechanism and path of green taxation’s influence on total factor productivity of manufacturing enterprises by combining the data of Shanghai and Shenzhen A-share listed companies with fixed effect and intermediary effect.Firstly,on the basis of clarifying the concepts and theories of green taxation and total factor productivity of enterprises,the mechanism of green taxation on total factor productivity of manufacturing enterprises is introduced,the development history of green taxation system and the basic situation of total factor productivity of manufacturing enterprises in China are summarized through realistic data,and the remaining problems of the current green taxation in practice affect total factor productivity of manufacturing enterprises are proposed.Secondly,in order to verify the relationship between green taxation and total factor productivity of manufacturing enterprises,green taxation is divided into two calibers of green taxation in a narrow sense and green taxation in a broad sense,and data of 120 listed companies from 2015 to 2021 are selected for empirical analysis,starting with real value added(Y),intermediate goods input(M),labor input(L),and capital input(K)as specific indicators,and applying LP In order to ensure the reliability of data estimation,the calculation methods of lagged period and transformed total factor productivity are continued to be selected to support the analysis,and the heterogeneity analysis is conducted by dividing the enterprise samples according to the nature of property rights and regional differences to clarify the impact of green taxes on different The heterogeneity analysis is conducted to clarify the degree of impact of green taxation on different types of manufacturing enterprises.Then,in conjunction with the theoretical part of the previous paper,the amount of R&D expenditure and the number of patents actually obtained by enterprises are selected to measure the technological innovation activities of enterprises,and a mediated transmission model is established to verify whether green taxes affect the total factor productivity level through technological innovation activities.Finally,after the analysis of the empirical data,the following conclusions are drawn:(1)The green taxes of both calibers pass the positive correlation test at 1% significance level,but there is a slight difference in the coefficients,and the coefficient of the broad green tax is higher than that of the narrow green tax,which indicates that the broad green tax has a greater impact on the total factor productivity of manufacturing enterprises.(2)The two calibers of green taxes have different effects on the total factor productivity of manufacturing enterprises due to the nature of property rights,and both show that the total factor productivity of state-owned manufacturing enterprises is greater.The effect of green taxation on the total factor productivity of manufacturing enterprises in the two calibers is different due to regional differences.Third,the effect of green taxation on total factor productivity of manufacturing enterprises will occur through the factor of technological innovation.Based on the empirical results and realistic analysis,the policy suggestions of standardizing and improving the top-level design of green taxation,stimulating the synergistic governance effect of green taxation and promoting the implementation of green taxation compensation mechanism are proposed to enhance the total factor productivity of manufacturing enterprises.