Research On The Impact Of Environmental Protection "Fee To Tax" On Enterprise Technological Innovation

The environmental pollution caused by rough economic development has seriously hindered the sustainable development of our country’s economy,and it is inevitable to take a green development path.The problem of environmental pollution has negative external attributes and cannot be effectively solved by market mechanism alone.Environmental protection tax,as a kind of "green tax",is an effective tool to make up for market failures.In2018,my country implemented the “fee to tax” for environmental protection.The main purpose of the reform is to stimulate the technological innovation of enterprises to achieve both environmental protection and industrial upgrading and transformation.The fee-to-tax reform has been implemented for more than three years,and academic circles still have certain disputes about whether and how it can affect the technological innovation of enterprises.This paper studies the impact of environmental protection "fee to tax" on enterprise technological innovation.First,review the existing literature,and examine the mechanism of environmental protection "fee to tax" that affects corporate technological innovation based on the Porter hypothesis and the double dividend hypothesis.Secondly,construct a double difference model,divide A-share companies into experimental group and control group,perform model regression,and draw a general conclusion that the fee-to-tax policy can stimulate corporate technological innovation.Then,the samples are grouped and returned according to individual heterogeneity factors such as industry heterogeneity and property rights heterogeneity.It is believed that the implementation of fee-to-tax reform will promote technological innovation of heavily polluting enterprises,hinder technological innovation of environmental protection enterprises,and promote technological innovation of state-owned enterprises.In the short term,it will not have an impact on the technological innovation of private enterprises.Finally,it puts forward policy recommendations such as implementing a heterogeneous tax system,rationally expanding the scope of environmental protection taxes,and multi-faceted planning of environmental protection tax funds,in order that environmental protection "fees-to-tax" can play a role in stimulating enterprise technological innovation,promote enterprise technological upgrading,and improve environmental quality.