Research On The Influence Of "Fee To Tax" On Environmental Protection Investment Of Heavy Pollution Enterprises

Since the Reform and Opening Up,China has achieved fruitful results in economic construction.But it is undeniable that,at the same time,it is also accompanied by serious pollution and damage to the environment.How to balance economic and environmental benefits has become an important topic related to China’s future development.However,the prominent feature of environmental governance is its positive externality and social benefits.For enterprises,it is meaningless to invest less in environmental protection.But if a large amount of money is invested,it may not bring corresponding economic benefits,so it is difficult for enterprises to have enough motivation to actively invest in environmental protection.In 2018,the Environmental Protection Tax Law of the People’s Republic of China was officially implemented,and the implementation of the "Fee to Tax" for environmental protection means that China has entered a stage of transformation from administrative measures to legal means in environmental supervision.Then,whether this law can promote enterprises,especially the heavy pollution enterprises with the most pollution emissions,to fulfill their environmental protection responsibilities and increase environmental protection investment is very worthy of research and discussion.Firstly,the dissertation explains the research background and significance,and summarizes the existing relevant research at home and abroad.Secondly,it explains and defines the relevant concepts involved in this dissertation,and expounds them based on externality theory,corporate social responsibility theory and sustainable development theory.Thirdly,put forward the research hypothesis and construct the test model.By selecting some A-share listed companies in Shanghai and Shenzhen from 2015 to 2020 as research samples,the dissertation empirically tests the impact of environmental protection "Fee to Tax" on environmental protection investment of enterprises in heavy pollution industries by using Differences-in-Differences.The results show that the implementation of environmental protection tax policy does promote heavy pollution enterprises to invest in environmental protection.Finally,taking company C as an example,the dissertation expounds the changes of its environmental protection investment,the problems encountered by enterprises and the countermeasures taken after the environmental protection tax reform.The research’s conclusion shows that the implementation of environmental protection tax policy does promote heavy pollution enterprises to invest in environmental protection.In addition,the increase of environmental protection investment can reduce pollutant emissions and reduce the environmental protection tax burden of enterprises by means of green upgrading of production technology and improving energy efficiency.The dissertation puts forward the following suggestions:the government should continue to promote the supplement and improvement of the environmental protection tax law,and increase all aspects of support for enterprises’ environmental protection investment and technology upgrading;enterprises should strictly abide by environmental laws and regulations,continue to maintain high investment in environmental protection,and explore new ways to use environmental protection investment.