The Impact Of Market Incentive Environmental Regulation On Enterprise Green Investment

The construction of ecological civilization is an important part of promoting the policy of "Five in one" in China.Our society is in a critical period for green transformation.High pollution industries have the characteristics of high pollution,high energy consumption and high emission.Under the dual pressure of green development and ecological governance,high pollution enterprises face severe test.Green development is a must for the transformation of high pollution enterprises,and green investment is the foundation for green development.China aims to form an ecological civilization law system by continuously revising environmental protection laws and regulations.Market incentive regulation,as an important method to promote enterprise environmental protection actions,exerts the dual effects of incentives and constraints.Therefore,this paper studies the effect of market incentive regulation on green investment in high pollution enterprises,which is of great significance for promoting economic and environmental development in China.Based on the existing research results,this paper discusses the impact of market incentive regulation on enterprise green investment,further divides companies with different property rights and marketization degrees,and analyzes the heterogeneity of market incentive regulation on enterprise green investment.Firstly,this paper expounds the research background,research purpose,research significance,research content,research method,technical route,characteristics and innovation.Secondly,this paper reviews and sorts out the literature related to environmental regulation and green investment;introduces the core concepts of market incentive regulation,enterprise green investment,high pollution industries,and theory of Porter hypothesis institution and sustainable development,etc,and expounds the impact and assumptions of market incentive regulation on enterprise green investment.Finally,this paper examines the impact of market incentives and regulations on enterprise green investment,and further divides the impact of the property rights and degree of marketization through the data of A-share high pollution listed companies in Shanghai and Shenzhen from2015 to 2019.According to the research results,market incentive regulation promotes green investment for high pollution enterprises.According to the property right classification result,green investment of non-state owned high pollution enterprises is more sensitive to market incentive regulation;according to degree of marketization classification result,the market incentive regulation plays a more significant role in promoting green investment for enterprises with a higher marketization.Based on the above research conclusions,this paper puts forward relevant suggestions and inspirations from three aspects: optimizing environmental governance policies,practicing green investment concepts and accelerating the marketization process.