Study On Green Investment Efficiency Of Jingxing Paper In The Context Of Environmental Tax Reform

With the rapid economic development,the environmental situation and resource scarcity in China are becoming increasingly serious.Our government continues to improve environme nt-related regulations and systems and strengthen law enforcement supervision in the expectat ion of effectively solving this problem.the reform of environmental protection tax to replace e mission fees in 2018 has alleviated the problems of lax enforcement of emission fees,insuffici ent rigidity,insufficient influence and deterrence,and difficulty in internalizing the environme ntal costs of enterprises.Faced with the challenge of how to solve environmental pollution,en terprises urgently need to improve the efficiency of green investment.Green investment effici ency directly determines whether it can effectively improve the quality of the environment,gr een investment inefficiency will not only increase the pressure on the environment,but also le ad to a waste of resources and funds.The paper and paper products industry belongs to the 16heavily polluting industries specified by the state,and is a key national monitoring target unde r the environmental protection tax.In this context,paper and paper product enterprises should pay more attention to the protection of the environment while pursuing economic interests.An d most of the current enterprises keep increasing green investment and strengthening pollution control investment,but the effect of control is not satisfactory,which is mainly due to the low efficiency of green investment.Based on this,it is important to study the green investment eff iciency of paper and paper product enterprises,to grasp the current situation of green investm ent efficiency of enterprises,to guide enterprises to find out the problems of green investment,and then to improve it,and to promote the overall coordinated development of economy,envi ronment and society.This thesis firstly compares the research literature on environmental protection tax and gr een investment by domestic and foreign scholars,defines the concepts of both,and takes exter nality theory,Porter’s hypothesis,environmental management accounting theory and efficienc y evaluation theory as the theoretical basis of the thesis.Second,it introduces China’s environ mental protection tax policy,Jingxing Paper and the basic situation of the paper industry in w hich it is located,and further analyzes the current situation of its green investment in terms of the total amount,scale,and structure of green investment.Combined with the above analysis,we summarize the motives of corporate green investment,including both endogenous and exo genous factors.Then,based on environmental disclosure guidelines as well as scholars’resear ch,we establish Jingxing Paper’s green investment efficiency evaluation index system,which is divided into economic efficiency,environmental efficiency,and social efficiency.On input i ndicators,green investment is divided into environmental prevention,pollution treatment and environmental management investment according to economic,environmental and social aspe cts.In terms of output indicators,energy saving and environmental protection subsidies are se lected as economic efficiency output indicators,water resources reuse rate,CO₂emission redu ction and solid waste disposal rate are selected as environmental efficiency output indicators,and the number of environmental information exchanges between enterprises and stakeholder s,the number of employee environmental education and training sessions,and the number of education and training activities related to environmental protection are selected as social effi ciency output indicators.Based on Jingxing Paper’s 2014-2021 annual report,social responsib ility report,and environmental report,the DEA model is applied to evaluate the green investm ent efficiency of Jingxing Paper under the background of environmental tax reform,and the pr oblems existed are summarized with the actual situation of the enterprise,and the correspondi ng suggestions are further put forward,in order to provide reference for the optimization of gr een investment for related enterprises in the same industry.Through the above study,the conclusions are as follows:First,the green investment effic iency of Jingxing Paper under the background of environmental protection tax reform is not st able and is low overall.Compared to before the environmental tax reform,the green investme nt efficiency after the environmental tax reform has generally improved,but the increase is no t significant.Among them,economic efficiency showed a downward trend,and environmenta l efficiency and social efficiency increased slightly.Second,the specific manifestations of the problems of green investment in Jingxing Paper are:unreasonable scale of green investment,unreasonable input-output structure,inadequate corporate environmental management capacit y and incomplete environmental accounting information disclosure.Third,the enterprise shou ld improve the efficiency of green investment by strengthening environmental cost manageme nt,innovating green production technology,improving talent training system and improving e nvironmental information disclosure on the basis of implementing national policies.The value of this thesis is:first,to make some additional contributions to the literature on the impact of environmental protection tax and the motivation and influencing factors of gree n investment at the academic level;second,to guide enterprises to discover the problems of gr een investment,improve their knowledge of the positive impact of green investment efficienc y improvement,and prompt them to enhance their enthusiasm to make green investment and c reate a competitive advantage conducive to their long-term development Third,to provide so me inspiration for other enterprises in the industry to jointly change the concept of green deve lopment and further improve the efficiency of green investment.