Research On Corporate Environmental Responsibility Based On Multiple Capital Supply

At present,environmental pollution is becoming more and more serious,posing a huge threat to the health of people’s lives and the sustainable development of society.As the environmental carrying capacity is approaching its limit,the deep-seated contradictions behind my country’s extensive economic growth over the years have become more prominent.It is urgent to transform the traditional economic development model and structure to achieve comprehensive green development.As an important microeconomic entity,heavy-polluting industrial enterprises are also the main source of environmental pollution.Promoting heavy-polluting industrial enterprises to actively fulfill their environmental responsibilities and improve their environmental governance and green management capabilities are an important foundation for achieving the coordination and unity of enterprise development and the ecological environment,and resolving the inherent contradictions between economic growth and environmental protection.Therefore,in the critical period of my country’s economic slowdown and highquality development,this article attempts to study and clarify the pre-influencing factors of corporate environmental responsibility behavior to help accelerate the realization of social and economic green development and improve the ecological environment governance system.Judging from existing research,scholars have carried out a lot of research around the characteristics,motivations and influencing factors of corporate environmental responsibility behaviors,and have formed rich and valuable research results,which provide us with a good opportunity for further digging research problems and conducting research work.The theoretical inspiration,reference and reference.However,few studies have focused on the capital demand and economic basis for the performance of corporate environmental responsibilities,and capital is precisely an important factor that constitutes the internal feedback mechanism of economic growth and environmental pollution under the background of our system.In theory,corporate environmental governance is not only difficult to form a direct inflow of economic benefits,but also consumes a large amount of special funds,and the externalities are strong,and the company lacks the positive will of environmental governance.Therefore,in terms of economic means,in addition to focusing on capital constraints for endof-pollution control,we should also pay attention to and strengthen capital support for first-end pollution prevention and control.Under the current background that Chinese enterprises generally face financing difficulties and expensive financing,to promote the green transformation and upgrading of enterprises,we must consider providing certain external capital support.Therefore,on the basis of environmental economics research and related literature review,combined with the background of China’s system,this article takes heavy polluting industrial enterprises as the research object,discusses the mechanism and consequences of external capital supply on corporate environmental responsibility behavior,and specifically examines economic support or The potential role of compensation measures in environmental governance.Specifically,based on externality theory,institutional theory,contract theory,and resourcebased theory and other related theories,this article starts from the key external capital sources of enterprises,combines the inherent characteristics of corporate environmental governance,and incorporates the government,creditors,and shareholders into the multiple entities of environmental governance The framework examines the effects and mechanism of government subsidies,debt capital supply and equity capital supply on the performance of corporate environmental responsibilities,and further analyzes the differential performance of various capital supplies in different situations along the specific mechanism of action.The study found that the key external capital supply provided by the government,creditors,and shareholders can significantly increase the level of corporate environmental governance investment,but there are certain differences in the mechanism and specific consequences of various capital supplies,and they will be subject to regional environmental regulations to varying degrees.,The influence of external factors such as government intervention ability,financial development level and macroeconomic level,as well as internal factors such as the nature of corporate property rights,risk perception,stock market performance and entrepreneur confidence.This article supplements the existing research on the influencing factors of corporate environmental responsibility behavior,expands the research thinking and logic system of the theoretical framework of environmental economics from the perspective of capital support,and also breaks through the limitations of the current environmental governance subject that is too single.The conclusions of this article not only provide direct evidence for the economic foundation and capital needs of corporate environmental responsibility performance,but also provide reference and ideas for optimizing the top-level design of ecological environmental governance,improving the green efficiency of social resource allocation,and providing enlightenment and basis for formulating corresponding environmental policies.It has great theoretical value and practical significance.