The Study On The Impact Of Environmental Regulation To Enterprise Performance Of Thermal Power

The paper in theory introduces China’s current policy status quo of environmental regulation, including characteristics, type and regulatory tools, summed up the role of different environmental regulation policy tools;Then this paper analysis and discusses the environmental regulation affect the business performance of the mechanism, detailed explanation the affect process of environmental regulation on firm performance directly and indirectly, and comparative analysis the affect of different environmental regulatory system tools to enterprise production costs, technological innovation, the quantity of enterprises enter; In the study design and empirical, Firstly, built three econometric models and the four basic assumptions; Secondly, in terms of data selected using panel data from2001-2010in30provinces in China. Taking into account the level of economic development and environmental regulation have some differences between different regions in China, Therefore, the paper make our country divided into the eastern region, the central region, the western region to examine the impact of environmental regulation to thermal power generation business performance; Finally, in the empirical part, the paper uses econometric models have been constructed, and the use of econometric ways test the impact of environmental regulation to the thermal power business performance of China’s eastern, central and western regions. The results showed that, in the east, the intensity of environmental regulation has a significant role in promoting the technological innovation of the thermal power enterprise, and has a significant inhibitory effect on the number of firms, and indirectly has a positive impact on corporate profitability and productivity; In the central region, the intensity of environmental regulation between the thermal power enterprises’ technological innovation and the number of firms is not significant sexual relationship, but ultimately has a positive impact on corporate profit margins and production rates; In the western region, the intensity of environmental regulation has a promoting to technological innovation of thermal power generation companies, and has a certain inhibitory effect on the number of firms, ultimately indirectly has a positive impact on productivity, but no significant effect on profitability.Based on the results of theoretical research and empirical analysis, and in accordance with specific circumstances of thermal power enterprises in the eastern, central and westernregions, the paper make a few suggestions on how to enhance and improve the quality andlevel of environmental regulation policy, as well as thermal power companies how to improvethe response to environmental regulation capacity.