An Empirical Study On The Relationship Between Environmental Responsibility Of Chinese Manufacturing Enterprises And Transnational Operating Performance

The smooth implementation of the "Belt and Road Initiative" has promoted more and more Chinese companies to choose "going out".The scale and speed of Chinese enterprises' transnational operations have been continuously improved.By the end of 2017,Chinese enterprises have already invested 80%of the world's area.The achievements of Chinese companies in exploring overseas markets are obvious to all,and manufacturing plays an important role.It has already gained a place in the international market,but China's manufacturing industry is large and not strong,and with the emergence of environmental problems,its unsustainable development is gradually emerging.China's environmental responsibility regulation for enterprises is far lower than international standards.The environmental responsibility of enterprises is not high and the degree of environmental responsibility is not in place,causing frequent environmental problems.The huge economic losses caused by environmental problems have seriously affected the quality of manufacturing transnational operations,and at the same time seriously damaged the image of Chinese companies in the international market.In this context,this paper raises the following questions:What is the relationship between corporate environmental responsibility and transnational business performance;with the diversification of transnational business entities,whether the differences in the nature of corporate ownership have an impact on the relationship between the two.In order to solve the above problems,this paper firstly uses the normative research method to sort out the theoretical basis of relevant literature,and analyzes the current situation of China's manufacturing transnational operations and the potential environmental risks.Based on the theoretical basis and current situation analysis,the research hypothesis is put forward to construct the panel data model.Then,the 85 samples of the listed companies in the manufacturing industry were selected from the data of 850 in 2008-2017,and the regression analysis was performed using stata14.0,and the endogenous problem of the environmental responsibility of the enterprise was tested by the generalized moment of the system.The empirical research in this paper draws the following conclusions:There is a positive correlation between corporate environmental responsibility and transnational business performance;the difference in the nature of corporate ownership has a regulatory effect on this positive correlation,and this adjustment is more obvious in non-state-owned enterprises;In addition,through the statistical descriptive analysis of the sample,the sample company's environmental responsibility score is low,and the environmental responsibility of the state-owned enterprise is better than that of the non-state-owned enterprise.According to the research conclusions,the relevant countermeasures are proposed for enterprises and the government respectively:enterprises should take the initiative to implement the ISO 14001 management system standard of third-party certification,and use training and other means to strengthen the awareness of environmental responsibility;state-owned enterprises should dilute the government background and consider foreign interests in the international market.The needs of non-state-owned enterprises should correct their understanding of environmental responsibility and make full use of the adjustment of the nature of corporate ownership;the government should improve relevant laws and regulations and management mechanisms and encourage the development of environmental consulting services,and mobilize the public and media to the enterprise supervise.