Research On The Environmental Effect Of Vertical Integration On Independent Coking Enterprises

The coking industry is a key polluting industry.With the country ’s increasing emphasis on environmental protection and the requirements for energy conservation and emission reduction,environmental protection and industrial policies and environmental protection standards are becoming stricter.And capital expenditure,so green development is the foundation for sustainable development of enterprises.Coking enterprises will generate negative externalities,which will also bring great pressure on social and economic development and the ecological environment.Exploring how independent coking enterprises can better improve their environmental protection is of great significance to enterprise development,social development and ecological environment.This article takes Shanxi Coking as a case company to explore the impact of vertical integration of independent coking enterprises on the environmental protection effect of the company.Shanxi Coking has proposed the acquisition of high-quality upstream companies three times,and finally successfully acquired them in early 2018,extending to the upstream of the industry chain.At the same time,Shanxi Coking Chemical Industry also actively develops the downstream market of the industrial chain and increases the intensity of product deep processing.The company’s development strategy is "peaceful coking,harmonious coking,green coking,century-old coking",so the vertical integration of Shanxi Coking on such a large scale can improve the environmental protection and strengthen green sustainable development.Based on the theory of maximizing corporate value,Coase’s theorem and sustainable development theory,this paper analyzes the problem by combining Porter’s five-force analysis model and internal and external environment.Through case analysis,comparison with comparable companies,and comparison analysis before and after integration,it is concluded that vertical integration can improve the environmental protection effect of independent coking enterprises,but from the perspective of the final environmental protection effect,there are still some problems that need to be improved..In general,vertical integration has a positive effect on the green development of independent coking enterprises.