Research On The Impact Of Environmental Protection Investment And Technological Innovation On Financial Performance Of Heavily Polluting Enterprise

The correlation between corporate environmental behavior,technological innovation and financial performance has become a topic of concern in academic circles.Because many scholars have not unified the judgment indicators of corporate environmental activities,the relevance of these factors is also different.Some scholars pointed out that the company’s active environmental activities make many resources of the company abused,and it is difficult to effectively protect the actual rights and interests of shareholders,which will eventually damage the interests of the whole company;Other scholars pointed out that the company’s active environmental activities will accelerate the enterprise’s scientific and technological innovation strength,accelerate the progress of industrial transformation,optimize the company’s operation results,and increase the real income of the enterprise.In this study,the indicators to determine the company’s environmental activities and technological innovation are determined as the organization’s internal environmental protection expenditure and R &D expenditure,and the research subject is determined as the heavily polluting company.The analysis time is2015-2019.The correlation between the three is interpreted with the help of multiple linear regression and intermediary role.Finally,it is found that:(1)there is an obvious positive correlation between the environmental protection expenditure and technological innovation of Listed Companies in the field of heavy pollution in China;(2)There is a significant positive correlation between environmental protection expenditure and financial performance of Listed Companies in the field of heavy pollution,but this impact will delay;(3)Technological innovation plays an intermediary role in the impact of environmental protection expenditure on financial performance.Finally,this paper selects a case for analysis,takes Anshan Iron and Steel Co.,Ltd.as the case study object,observes the development trend of environmental protection investment,technological innovation and financial performance in recent five years,and interprets the correlation between them.Through the combination of demonstration and cases,the existing problems of Anshan Iron and Steel Co.,Ltd.are clarified.Based on this,this paper puts forward suggestions and corresponding countermeasures from the perspectives of government and enterprises.