Goverment Support, Environmental Technology Innovation Investment And Environmental Performance

Mankind has made great economic and social progress, but paid a huge environmental cost. Energy-saving and environmental protection issues is increasingly rapid warming in severe environmental conditions. the whole society on energy conservation and environmental protection issues given unprecedented attention. In the "Eleventh Five-Year Plan" formally proposed planning of energy saving. In 2012, State Department made clear that "second five" energy-saving environmental protection industry output to reach 4.5 trillion yuan. This means that the energy-saving and environmental protection industry as an important force in strategic emerging industries and the adjustment of industrial structure established by the State, has become the new direction of economic growth.Energy saving and environmental protection enterprises are strategic emerging industries, with strong policy-dependent, effective government policy support is directly related to the development of energy-saving and environmental protection enterprises. In this paper, the use of energy-saving and environmental protection in Shanghai and Shenzhen A-share listed companies in the period 2009-2013 as the sample investigated whether government policies to promote energy saving and environmental protection technology enterprise innovation activities, and ultimately improve the environment. First, examine the impact of environmental technology innovation investment in energy saving and environmental performance of listed companies, and then examined whether government support will promote the relationship between environmental technology innovation investment and environmental performance of energy-saving environmental protection enterprises. The different life cycle stages and different type of industry is a significant role in promoting, so as to effectively support the Government to formulate policies to provide a theoretical basis for the different energy-saving environmental protection enterprises.The study found that the relationship between environmental technology innovation investment and environmental performance is a significant positive correlation. Compared with the promotion of human capital investment, in terms of environmental protection funding was more significant. The study also found that the government’s support for energy-saving environmental protection enterprises have a significant positive promotion of the relationship between environmental technology innovation investment and environmental performance, and environmental technology innovation investment of funding and human capital inputs have a significant role in promoting. After grouping tests found to promote the role of government support in the start-up and growth stage energy saving enterprise life cycle is significant, not significant at other stages. For cleaning enterprises, the promotion of government support is more significant for environmental technology innovation investment of funding than in polluting enterprises. In terms of human capital investment is significantly in both groups, but did not differ significantly. This shows that the government policies will be more effective to support clean energy-saving environmental protection enterprises, and the growth and maturity of the effect energy-saving environmental protection enterprises.