A Study Of The Impact Of Environmental Protection Tax On Enterprise Performance In China

Since the reform and opening up,China’s economic achievements have been in sharp contrast to the increasingly prominent environmental problems,which indicates that China’s economic achievements have been partly achieved at the expense of the environment.The earth itself has been difficult to repair the damaged environment,it is urgent to strengthen the awareness of environmental protection.Such development at the expense of the environment seriously hinders the sustainable development of economy and society.In today’s era with green development as the background,environmental issues have become the key concern of the national strategic level,and the demand for environmentally friendly enterprises is becoming more and more urgent.With the promotion of the change of pollutant discharge fee to tax,the environmental protection tax of our country also comes into being.As an important means for the country to regulate the economy,tax will bring some impact to enterprises while realizing the function of environmental protection.For China,economic development is still the goal we pursue.With the increasing attention paid to environmental issues,how to balance the relationship between the two needs our focus and discussion.At the same time,as the pillar of social development,the impact of environmental protection tax on enterprises has become a key topic of concern in today’s society.This paper studies the impact of sulfur dioxide emission charges on enterprises,from the perspective of micro enterprises,to explore the impact of environmental protection tax on enterprise performance,to investigate the impact mechanism of environmental protection tax on enterprise performance,and to provide the corresponding empirical basis.Based on the sample data of all A-share listed companies in high pollution industries from 2004 to 2017,this paper uses the dual difference method to empirically test the impact of environmental protection tax on the performance of enterprises in high pollution industries by replacing the collection of environmental protection tax with sewage fee reform as a quasi natural experiment,This paper mainly studies the correlation between different market concentration and different enterprise size.Then,the paper introduces the variables of enterprise technological innovation,and analyzes its transmission mechanism and intermediate process by using the intermediary effect model.The main conclusions of this paper are as follows:(1)in the study of the relationship between environmental protection tax and enterprise performance in high pollution industries,it is found that the government’s collection of environmental protection tax will inhibit enterprise performance in the current period,but it is conducive to the improvement of enterprise performance in the long run.(2)Further research finds that compared with the industry enterprises with high market concentration,the environmental protection tax at the beginning of the period has a more significant inhibitory effect on the performance of the industry enterprises with low market concentration.From the perspective of enterprise scale,the impact of environmental protection tax on the performance of enterprises of different sizes is not the same.Medium sized enterprises are restrained to a certain extent at the beginning of the period,while large and small enterprises are not significantly affected at the beginning of the period.However,the first period in the future still has a negative impact on the performance of large enterprises,while for small enterprises,it will have a significant negative impact in the next two or three periods.(3)Enterprise technological innovation plays a significant mediating role in the impact of environmental protection tax and enterprise performance.