Research On The Policy Effect Of Environmental Protection “Fee To Tax” To Promote Green Innovation Of Enterprises

Since the reform and opening up,China’s overall economy has grown rapidly,but the problem of environmental degradation is becoming more and more serious.The quality of economic development,especially the ecological quality and other elements threaten the sustainability of the development mode.The severe ecological and environmental protection situation has gradually become an obstacle for people to improve their living standards and achieve "common prosperity".Therefore,in recent years,governments at all levels have paid more and more attention to environmental protection.While promising to integrate into the energy conservation and emission reduction family of the international community with a solemn "double carbon" vision,through a series of environmental protection tax policy reforms,finally achieve the long-term goal of green sustainable development.However,whether the implementation of the environmental protection tax policy can continuously promote the green innovation behavior of enterprises,and how the pulling effect is,the academic community has not yet reached a consensus on this issue.Taking the opportunity of the implementation of the environmental protection tax law in 2018 and based on the panel data of China’s A-share listed companies from2015 to 2020,this paper uses the did double difference method to explore the impact of the implementation of the environmental protection "fee to tax" policy on the level of green innovation of enterprises.The study found that the "fee to tax" policy of environmental protection has significantly improved the level of green innovation of enterprises.Through the heterogeneity test,the study further found the following conclusions: firstly,compared with the central and western regions,the "fee to tax" policy of environmental protection plays a more significant role in promoting the green innovation ability of Listed Companies in the eastern region;Secondly,for the research samples,compared with non-state-owned enterprises,the induced response intensity of green innovation activities of state-owned enterprises to the policy is more significant;Thirdly,the inducing effect of the policy on green innovation mainly focuses on green utility model patents rather than green invention patents.It can be seen that the "fee to tax" policy of environmental protection has achieved preliminary results in energy conservation and emission reduction and promoting independent innovation of enterprises,but the government still needs to continue to improve the environmental protection tax system according to different regions,enterprises with different property rights and different patent types,such as optimizing the tax rate structure and increasing tax incentives,so as to promote the green transformation and upgrading of high-energy consumption and heavy pollution industries,Enhance enterprises’ green technology innovation,especially their independent innovation ability,so as to promote high-quality economic development...