The Impact Of Environmental Pollution Liability Insurance On Green Total Factor Productivity Of Enterprises

At present,China has entered a period of high-quality economic development and paid attention to the protection of the ecological environment.Our country’s ecological environment has made great achievements,but the environmental pollution problems of some enterprises are still prominent.As a kind of insurance,environmental pollution liability insurance has the functions of transferring risks and providing economic compensation.It can reduce the costs of enterprises,improve the efficiency,and also enable the victims of pollution to obtain compensation in time,maintain social harmony.Although the government has been committed to promoting the development of green insurance for many years,the coverage rate of environmental liability insurance on the market is still low,due to the lack of relevant insurance awareness and enthusiasm of enterprises.Therefore,based on the data of enterprises from 2010 to 2019,this paper measures the total green factor productivity of enterprises through the SBM-GML model,and disassemble into two parts: the change in green efficiency and the change in green technology progress,and then analyzes the spatiotemporal dynamic change trend and regional differences.In addition,this paper constructs a DID quasi-natural experimental model to analyze the impact of environmental pollution liability insurance policy on green total factor productivity of enterprises,and test the mechanism and path role of financing constraints and technological innovation in it.The results show that the insurance has a significant effect on the improvement of green total factor productivity of enterprises,and the intermediary effect of financing constraints and technological innovation is obvious.Different regions,industries and property rights have different performances.In terms of suggestions,the government should improve the relevant legal system and increase investment to encourage product updates and improve service quality.In addition,the government should increase publicity to promote active participation of enterprises in insurance.It should be noted that policies should be flexibly applied and mandatory insurance implemented in key areas.