The Impact Of Government Subsidies And Green Taxes On Environmental Protection Investment Of Heavily Polluting Enterprises

As our economy develops rapidly and our overall strength keeps improving,environmental pollution problems brought by it also become increasingly important.However,as the main source of environmental pollution,how to improve the awareness of environmental responsibility and increase the investment in environmental governance for heavy polluters is an important issue of current concern.It is a sustainable development model for enterprises to increase investment in environmental protection.However,due to the externality of enterprise investment in environmental protection,enterprises,as the main polluters,can hardly bear the burden of environmental protection mission.Therefore,the guidance and regulation of government policies are undoubtedly of great significance for enterprises’ environmental protection investment.From the perspective of government policy "investment" and "cost",this thesis analyzes the impact of government subsidies and green taxation on environmental protection investment of heavily polluting enterprises in Beijing,Tianjin and Hebei Province,and considers the impact of government subsidies and green taxation on environmental protection investment of enterprises in different regions and with different environmental regulatory intensity,and conducts a sub-sample study.First of all,this thesis analyzes the current research situation at home and abroad,expounds the concepts related to government subsidy,green tax,externality theory,rent-seeking theory and Pigovian tax theory,and analyzes the influence mechanism of government subsidy and green tax on environmental protection investment of heavily polluting enterprises.Secondly,heavy polluting enterprises in Beijing,Tianjin and Hebei from 2010 to2020 are selected as samples to conduct empirical research under the overall sample and test the conduction path of technological level among them.Finally,from the perspective of heterogeneity,it is further verified that under different regions and different environmental regulatory intensity,Impact of government subsidy and green tax on environmental protection investment of heavy polluting enterprises in Beijing,Tianjin and Hebei.The results show that for the heavily polluting enterprises in Beijing,Tianjin and Hebei,the government subsidies significantly promote the environmental protection investment of the heavily polluting enterprises,and the green tax inhibits the environmental protection investment of the enterprises.In terms of the transmission path,government subsidies do not have the intermediary effect of technology level,while green taxation has a partial intermediary effect,which can inhibit enterprises’ investment in environmental protection through the "crowding out effect" of technology level.In the study grouped by region,both government subsidy and green tax can significantly promote the environmental protection investment of heavy polluting enterprises in Beijing and Tianjin,but in the heavy polluting enterprises in Hebei Province,government subsidy and green tax have no significant impact on the environmental protection investment of enterprises.Under different environmental regulatory intensities,government subsidies and green taxes play a greater role in promoting environmental investment in enterprises with low environmental regulation.Therefore,according to the conclusion of the empirical analysis,considering the actual situation in the Beijing-Tianjin-Hebei region,the local government should use government subsidies and green tax policies for heavily polluting enterprises according to the specific conditions,and adjust them to better play the effect of the policies.