| In recent years,with my country’s increasing emphasis on environmental protection and the joint efforts of the people across the country,my country’s environmental protection work has achieved certain results.However,in the environmental performance assessment carried out on a globally unified scale,my country is still ranked low,and it is still facing greater challenges in the development of environmental protection and other aspects.Therefore,as an important economic development subject,Chinese enterprises must assume more social and environmental responsibilities,unswervingly implement the concept of green and sustainable development,and increase green investment.Based on the sorting and analysis of existing literature,this paper selects the relevant data of listed companies in the heavily polluting manufacturing industry from 2018 to 2020,and uses empirical methods to explore the relationship between corporate green investment and financial performance.The research results show that: green investment can improve corporate financial performance;Executive compensation incentives and R&D investment have a significant positive moderating effect on the relationship between green investment and financial performance;Financing constraints have a significant negative moderating effect on the relationship;The moderating effect of the number of patent applications and government subsidies on the relationship between the two is not obvious.In addition,this paper further finds that the green investment of state-owned enterprises and large-scale enterprises has a more significant effect on improving their financial performance.On the basis of empirical analysis,this paper also selects BG company in my country’s heavily polluting manufacturing industry as a typical case,as the application of empirical results,and analyzes the relationship between the company’s green investment,financial performance and the four moderator variables.This study hopes to clarify the impact of green investment on its financial performance through empirical analysis and typical case analysis,and to provide useful suggestions for the sustainable and healthy development of enterprises in the future. |
