Research On The Relationship Between Environmental Responsibility Performance,Green Technology Innovation And Enterprise Value In Baosteel Based On VAR Model

In May 2018,General Secretary Xi Jinping pointed out in a speech at the National Congress on Ecological and Environmental Protection that green waters and green mountains are mountains of gold and silver,carrying out the concept of innovation,coordination,green,opening up,and shared development.Speed up the formation of resource conservation and environmental protection of the spatial pattern,industrial structure,mode of production,lifestyle,leaving time and space for natural ecology to recuperate and recuperate.As the main resource,energy consumption and polluter,the enterprise has the responsibility for environmental protection,and should improve the environmental management concept.On the other hand,under the normal state of China's economy driven by innovation,enterprises should grasp the economic growth.New motivation,increase R&D investment,through green technology innovation to improve the competitiveness of enterprises,to create greater value for enterprises.At present,the relationship between environmental responsibility performance,green technology innovation and enterprise value has not formed a unanimous conclusion in the academic circles,and environmental responsibility performance and green technology innovation are part of the enterprise investment.This constitutes the subject of the study.In this paper,the present research status of environmental responsibility performance,green technology innovation and enterprise value relationship is summarized in detail.On this basis,the concept of environmental responsibility performance,green technology innovation and enterprise value is clearly defined.Then,stakeholders and technological innovation are made.The sustainable development is the theoretical foundation,and the relationship between the variables is analyzed.and then,for Baosteel briefly introduced,and set up an index system to evaluate its environmental responsibility and green technology innovation level,select the appropriate indicators to measure the value of the enterprise.After that,the paper analyzes the environmental responsibility,green technology innovation and enterprise value of Baosteel.Finally,the VAR model is constructed and the EViews software is used to carry out impulse response analysis and variance decomposition.According to the research results,suggestions are made from the enterprise level and the government level respectively.The results show that: environmental responsibility performance and green technological innovation have some lag in promoting enterprise value,while enterprise value provides conditions for the development of environmental responsibility and green technological innovation.There is a positive interaction between environmental responsibility performance and green technology innovation.Therefore,the implementation of environmental responsibility and green technology innovation are the integrated strategy.Enterprises should not only attach importance to environmental management,but also pay attention to green technology innovation.