Research On The Driving Factors Of Environmental Protection Investment Of Steel Enterprises

The 19 th National Congress makes clear that China will continue to follow the path of sustainable development.Environmental quality is the basis of sustainable development,while environmental investment is the fundamental means to improve environmental quality.In view of the industrial pollution has become the current impact the chief culprit of environmental quality in our country,and the iron and steel enterprises is one of the main sources of industrial pollution,therefore,iron and steel enterprise's environmental protection investment behavior is closely related to will to improve the environmental quality in China.In recent years,as the government has paid close attention to environmental protection,the environmental awareness of Chinese steel enterprises has been increasing.However,the overall level of environmental protection investment is still on the low side,in environmental protection technology research and development,environmental protection equipment upgrade,the production of environmentally friendly products still exist many defects and the insufficiency,must attach great importance to.Based on iron and steel enterprise environmental protection investment driving factors as the research object,research results to guide and promote our country iron and steel enterprises to increase investment in a government formulate supporting policies and environmental protection is of important guiding significance and practical value.Based on the definition of enterprise environmental protection investment,source,structure,influence factors and related basic theory on the basis of the definition and systematic,further analyzes the current development of iron and steel enterprises,environmental protection investment situation and its causes,then using the data of listed companies of iron and steel,building the multiple linear regression model.Through the solution of the model,the concrete factors that influence the environmental investment level of Chinese steel enterprises are analyzed empirically.The results show that the overall level of environmental investment of Chinese steel enterprises is low.Moreover,the intensity of government environmental control and the intensity of media supervision are positively correlated with the scale of environmental investment of steel enterprises.The enterprise's ability of development,solvency and scale of enterprise are negatively correlated with the scale of environmental investment of steel enterprises.The equity structure and profitability have no obvious relationship with the investment scale of steel enterprises.Finally,the paper puts forward some countermeasures to promote the investment of steel enterprises.