The Impact Of Environmental Regulation On Green Investment Of Enterprises

The rapid development of China’’s economy is also facing unprecedented ecological pressure.Data show that the ratio of China’s economic growth to environmental losses is 1: 1.5,which means that behind the prosperity of China’s economy,it has paid a huge cost of ecological resources.Enterprises are both the main carrier of economic development and the main source of environmental pollution.Especially for heavy pollution enterprises.As a profit organization,they are more willing to use limited business funds for manufacturing,rather than making more green investment decisions.In this context,the Chinese government has actively formulated relevant environmental laws and regulations to strengthen control over environmental pollution,and put forward the goal of "double carbon".With the deep popularity of "carbon neutrality" and "carbon",the people’s awareness of environmental protection has been continuously improved,and the main body of environmental regulations has continued to be enriched,and the three parties of the government,the market,and the masses are driving together to promote green investment in the enterprise.However,although the scale of green investment in Chinese enterprises has increased,green investment used to directly reduce pollution emissions has continued to decline,and the overall investment scale is low(Yin Qihua,2023).In recent years,domestic and foreign scholars have conducted in-depth research on the relationship between environmental regulations and corporate green investment.However,the scale of environmental regulations in my country has continued to improve,and the scale of corporate green investment still needs to be strengthened.There are few literature discussing.For the existing research on the relationship between the two,the mechanism of the action mechanism of factors such as environmental protection awareness,government subsidies,and environmental disclosure in corporate executive executives,and this article innovatively proposes this perspective of internal control,any green,any green,any green.Investment decision-making is the result of the comprehensive effect of the internal environment of the enterprise in combination with the current factors of the enterprise.Therefore,whether internal control can play an active regulatory role between environmental regulations and corporate green investment deserves further research and discussion.In the context of the "double carbon",this article selects 2010-2018 my country’s A-share heavy pollution enterprises as research samples,which empirical analysis of the relationship between environmental regulation,internal control and corporate green investment.First of all,the back,meaning,methods and innovation points of the research on this article,sort out and review the influencing factors of previous scholars on the influencing factors of enterprises,environmental regulations and corporate green investment and environmental regulation,internal control and corporate green investment The relevant research results and literatures of the three parts;then define the relevant concepts of environmental regulation,corporate green investment and internal control,and propose the theoretical foundations of Potter hypothesia,information asymmetry theory,entrusted agent theory,social responsibility theory and other theoretical foundations.The research assumption of this article.This article divides environmental regulation in accordance with different subjects into administrative orders,environmental regulations,market incentive environmental regulations,and public participation environmental regulations.Use Stata16.0 and Excel to propose research assumptions on the basis of the above theoretical analysis,and thus obtain an empirical test:(1)the impact of administrative order environment regulation on the enterprise green investment;(2)The impact of market incentive environmental regulations on the "U" type of green investment in enterprises;(3)The impact of public participation environmental regulations on the "U" type on enterprises’ green investment.At the same time,this regulatory variable is introduced in internal control,we can see:(4)The relationship between internal control on administrative order environmental regulation,public participation environmental regulation and corporate green investment has a regulatory effect;because the subjects in the real market are often not single,it is often not a single one.Therefore,this article has been further studied,and the relationship between the role of different environmental regulation tools and the green investment between enterprises also inspects,and it also analyzes whether the internal control will regulate this relationship:(5)Public participation environmental regulations can promote the impact of administrative order environmental regulation and market incentive environmental regulation on the green investment of the enterprise,and this process can be promoted by the internal control of the enterprise.Finally,in accordance with the above research results and combined with my country’s environmental reality,this article proposes research suggestions from the two levels of the government and enterprises: On the one hand,the government should reasonably use environmental regulation tools to achieve complementary environmental regulation tools and important combination of environmental regulation.On the other hand,we should further improve different environmental regulatory tools to stimulate enterprises green investment;for enterprises,internal control should be improved,actively increasing enterprise green investment,and creating a good production environment.