Research On Government Subsidies,R&D And Environmental Performance Of List Company In The New Energy Industry

Under the dual pressures of energy shortage and environmental pollution,the traditional economic growth model of “previous pollution control” is difficult to sustain,and the contradiction between environmental resources and economic growth has become increasingly prominent.Under such a background,it is necessary to accelerate the transformation and upgrading of China's economic structure and vigorously develop the new energy industry.The development and progress of a new industry cannot be separated from the strong support of government subsidies.In recent years,governments at all levels in the country not only allocated large amounts of financial subsidies,but also successively introduced a series of supporting policies to protect the development of new energy industries.Therefore,how to make effective use of government subsidies has become a key issue for the new energy industry.Based on this,this paper discusses the effect of government subsidies and corporate R&D investment on the environmental performance of the listed companies in the new energy industry and its mechanism.This article systematically summarizes relevant domestic and foreign literature,based on the existing research methods and research results,combined with the actual background of our country,selects 348 listed companies in the new energy industry from 2012 to 2016 as an object,and empirically tests the government grants,R&D expenditure,and The correlation between environmental performance.First,the environmental information disclosure of listed companies was manually collected,and the environmental performance variables were scored;then,through the descriptive statistics of the sample,multiple linear regression and Logistic regression,the mediating effect of R&D investment was tested.Conclusion: Government subsidies can promote the improvement of the internal and external environmentalperformance levels,with a significant overall effect;government subsidies received by new energy companies can also have a significant beneficial impact on R&D investment intensity;but in R&D input intensity through government subsidies for corporate environmental performance The mediating effect test found that R&D investment level has a significant partial mediating effect on the external environmental performance of listed companies,while there is a resource squeeze effect on the formulation and implementation of internal environmental protection strategies,and the positive mediating effect is not significant.Finally,according to research findings and research conclusions,the current situation of China's new energy industry is comprehensively formulated,and measures are proposed to strengthen the supervision of government subsidies,regulate the use of government financial subsidies,and promote new energy companies to carry out research and innovation and internal environmental management in order to improve environmental performance.